So, now that House Budget Committee Chair Paul Ryan has unveiled his steaming tightly coiled pile of a budget the argument in the media is starting. It is to be strongly hoped that the Traditional Media outlets will look at the facts of this budget.
You know the little problems like the draconian cuts are not going to actual deficit reduction because they are being used to pay for tax breaks for millionaires and billionaires. Just to raise your blood pressure a little this morning, let me give you and example. Under this budget a single person making $75,000 a year (a nice chunk of change) would pay the same tax rates as people who make multiple millions a year.
Another issue that has to be brought up again and again is that this budget would gut the newly minted financial regulations, would gut the EPA, would gut the Social Security Administration (setting up the argument that it is poorly run and needs to be ended all together) as well as ending Medicare and Medicaid as we know them within ten years.
As if all that shite were not enough, there is the fact that like all of the proposals that Rep. Ryan puts forward, the numbers don’t work. He assumes that if we pass his budget in 4 years, just 48 months, the unemployment rate will fall to 4%.
I’d love that to happen, but I have this mental defect, I can’t get behind something that has no basis in reality, or as in this case is actually counter factual. Over the last two years the only thing that has kept the economy afloat was major federal spending. Business is sitting on 1.4 trillion in cash and has shown no sign of wanting to use it to stimulate demand. Rep. Ryan wants to slash hundreds of billions from the budget every year for the next decade. Is there really anyone out there who thinks that the resultant loss of jobs is going to improve the growth rate or the unemployment numbers?
If there was anything to this, then we would have had the boom that Rep. Ryan and the Heritage Foundation both predicted from the original Bush tax cuts. Instead of job growth we lost 600,000 private sector jobs in that time period. I think we have been “trickled down” upon enough to show that it is insane and does not work.
There is one piece of the Republican push that I do agree with; there is no plan from the Democrats, yet. For all its flaws (and lets face it they are legion) the Republicans have put forward an ideological marker for budgets. Everyone can see they want to slash government at the expense of the young, the poor and the elderly. I think it is more than a little bit of political suicide, but this is what you get when the inmates run the asylum as has happened with the modern Republican Party.