There is no alternative to its long-term perspective and the squawkers know it.
The American Spectator
…President Obama is following the Bush apostasy by increasing federal spending as a percent of GDP in four years by one third more than President Bush did in eight years. In his 2013 budget, Obama proposes to increase federal spending by $2 trillion a year by 2022, $9 trillion more over the next 10 years as compared to this year’s level of spending over those 10 years.
President Obama’s budget actually proposes to spend $47 trillion over the next 10 years, actually increasing spending above the current CBO baseline, ridiculously heedless of America’s fiscal crisis. Ryan’s budget proposes to cut that by $6.8 trillion. By 2022, Ryan’s budget would be spending nearly a trillion dollars less per year than President Obama’s budget. That reflects the long-term fix in Ryan’s budget.
Here is the bottom line between the two budgets. Ryan returns federal spending to its long-term, historical, postwar average at 20 percent of GDP for the next 20 years. Under the budget proposed by President Obama and the Democrats, federal spending soars to 30 percent of GDP by 2027, 40 percent by 2040, 50 percent by 2060, and 80 percent by 2080. Actually, it is much higher than that, as GDP would collapse under that burden. Add in another 15 percent of GDP for state and local spending, and we are at full blown communism…
…Do we want to restore federal taxes and spending to their long-term, historical, postwar average over the last 70 years, under which America prospered to become the richest and mightiest nation in world history during that time? Or do we want to raise taxes to begin to finance exploding federal spending well above that long term, historical, postwar average, with government spending over the long run eventually reaching 100 percent of GDP?
The entire Republican Party can and should run on the Ryan budget this fall, framing the issue for the American people this way. I have no doubt how that will turn out, restoring the real, original, free and prosperous America, before it is too late…
Read the entire article at The American Spectator.
House Budget Committee Chairman Paul Ryan spoke at the House Republican Leadership press conference on March 27th, 2012. Chairman Ryan, and the House Republicans, refuse to ignore the most predictable economic crisis in America’s history. While the President has a budget that ignores the drivers of our debt, and Senate Democrats have refused to pass a budget for well over 1,000 days, the House budget provides a choice for Americans.