August 12, 201214 yr We've all heard a lot recently about Rep Ryan's budget proposal and the "bold" initiatives in it and the "hard cuts" that have to be made. For those that have studied it who do you see in the group that will have to bear the brunt of the cuts?
August 12, 201214 yr Medicaid, the federal-state program covering more than 50 million low-income Americans, would be turned over to the states and cut by $750 billion over 10 years, forcing fewer benefits or higher co-payments. President Obama's health insurance expansion, passed in 2010 and upheld by the Supreme Court in June, would be repealed. Other low-income programs, such as food stamps, also would be turned into block grants to the states, with limits on growth. Ryan's selection also sets up a stark debate over tax policy. While Obama has called for raising taxes on people with incomes above $200,000, Ryan's plan calls for reducing the top individual and corporate tax rates to 25% from their current 35% levels. The only other tax rate would be 10%. He would pay for that by wiping out special-interest tax breaks, many of which benefit the middle class - something Romney has vowed to do as well. Neither man has specified what tax breaks he would eliminate. Ryan budget plan would alter popular insurance programs | wbir.com
August 12, 201214 yr He has good points and if he could do what he wanted a lot would be fixed. BUT they are not going to get elected, I have hope, but fixing our problems is not going to be popular or easy.
August 13, 201214 yr He has good points and if he could do what he wanted a lot would be fixed. BUT they are not going to get elected, I have hope, but fixing our problems is not going to be popular or easy. Government entitlement programs have grown to account for 35% of wages, so there are some real tough choices that have to be made or the U.S. will be facing the financial crisis that Europe currently does. The problem is that the political leaders who are willing to tackle these problems will have a hard time getting elected with such a large percentage of voters on these programs.
August 13, 201214 yr Author Any thoughts as to the question posed? Who will be impacted , negatively or positively, by the Ryan plan? Seniors? Middle class? Upper class?
August 13, 201214 yr Any thoughts as to the question posed? Who will be impacted , negatively or positively, by the Ryan plan? Seniors? Middle class? Upper class? Everyone. It's also the only way to get out of the hole that's been dug. That's the problem. All of us collectively want the problem solved but most of us aren't willing to make the sacrifices it will take to solve them.
August 13, 201214 yr Author Everyone. It's also the only way to get out of the hole that's been dug. That's the problem. All of us collectively want the problem solved but most of us aren't willing to make the sacrifices it will take to solve them. Everyone is impacted? All negative? All positive?
August 13, 201214 yr Why are we talking about the Ryan plan? That's what I'm wondering....I must have missed the press release that stated Gov. Romney would be adopting his plan...:idunno:
August 13, 201214 yr Any thoughts as to the question posed? Who will be impacted , negatively or positively, by the Ryan plan? Seniors? Middle class? Upper class? I think that all are going to have to make sacrifices, which I believe his plan tries to accomplish. One would hope that it would least affect the elderly, but there obviously has to be some cuts there for any plan to work.
August 13, 201214 yr That's what I'm wondering....I must have missed the press release that stated Gov. Romney would be adopting his plan...:idunno: Romney stated on 60 Minutes that he would be using his own budget plan.
August 13, 201214 yr The Ryan plan impacts everyone negatively( in terms of tax breaks and entitlement programs) but the outcome will be positive for the country as a whole.
August 13, 201214 yr We've all heard a lot recently about Rep Ryan's budget proposal and the "bold" initiatives in it and the "hard cuts" that have to be made. For those that have studied it who do you see in the group that will have to bear the brunt of the cuts? Any actual real cuts in spending would affect the middle and bottom.
August 13, 201214 yr Government entitlement programs have grown to account for 35% of wages, so there are some real tough choices that have to be made or the U.S. will be facing the financial crisis that Europe currently does. The problem is that the political leaders who are willing to tackle these problems will have a hard time getting elected with such a large percentage of voters on these programs. I saw a quote recently that said, "The problem with the nation is the number of people who work for a living are outnumbered by the number of people who vote for a living." Your last sentence seems to prove this point.
August 13, 201214 yr Remember the budget line item that will become a tsunami in 2 or 3 years..... Social Security? Medicare? Military? No. Interest on the debt. And guess how many jobs that will create. See the yellow line. When you buy a house with your income - it creates jobs. When you buy a car - it creates jobs. Even when you send your kid to (overly expensive) college - it creates jobs. But interest on debt does not create jobs. Maybe a few in the financial institution but not mainstream manufacturing, sales, service jobs. And this is where we are headed. The Fed and Chinese will want their money. And they will be first in line.
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