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April 16, 2011
A Clear Choice Between Two Very Different Futures
Topics: Political News and commentariesThis chart ... "A Choice of Two Futures (Debt as a Share of the Economy)" ... makes very clear the the path America takes under the Ryan plan vs. the path President Obama has set our nation on.
One leads to prosperity ... the other to financial insolvency.
From Paul Ryan's April 5 piece in The Wall Street Journal:
[...] The president's recent budget proposal would accelerate America's descent into a debt crisis. It doubles debt held by the public by the end of his first term and triples it by 2021. It imposes $1.5 trillion in new taxes, with spending that never falls below 23% of the economy. His budget permanently enlarges the size of government. It offers no reforms to save government health and retirement programs, and no leadership.The choice is ours ... and we have to make it by election day 2012.Our budget, which we call The Path to Prosperity, is very different. For starters, it cuts $6.2 trillion in spending from the president's budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt. Our proposal brings federal spending to below 20% of gross domestic product (GDP), consistent with the postwar average, and reduces deficits by $4.4 trillion.
You'll find a list of the GOP plan's major components here.
There are more graphs here.
Posted by Richard at April 16, 2011 11:19 AM
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