Saturday, August 11, 2012

Ryan's "Plan" Balances the Budget...Sometime after 2064

Paul Ryan is touted by "conservatives" as the architect of "The Roadmap for America's Future".  This is the supposedly "brave" and "balanced" approach to solve America's debt problem (the bulk of which was accumulated under the Reagan and Bush administrations).  People can argue all day about "privatizing" Social Security, ending Medicare "as we know it", lowering taxes for the wealthy while raising taxes for the middle class and cutting support for the poor.  But what you can't argue about is when Ryan himself says he will balance the budget.

You can view some great charts on Congressman Ryan's website.

The budget is balanced when Federal spending is equal to Federal revenue.

Note that Ryan's target for Federal Government Tax Revenue is 19% of GDP which he hopes to hit somewhere between 2028 and 2032.

Also note that Ryan's projection for Federal Government Spending does not get down to 19% of GDP until around 2064.

This means that the "Roadmap" projects deficits for another 50 years or so.

Just so you know.


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