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The Ryan Journey
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David Brooks says the Paul Ryan Budget proposal is a bold step forward that is badly needed in this debate on health care, even though it has some grave weaknesses which need to be corrected. It is a bold step forward because he says Democrats say they want no middle class tax increases, or are not willing to say what kinds of tax increases they support, and yet they believe the Medicare and Medicaid and Social Security programs are worth preserving. This is'nt based on reality. He cites the weaknesses, beginning with the one discussed in David Leonhardt's column in the New York Times on April 7, 2011. Too many Americans pay too little into Medicare taxes and expect to collect several hundred thousand dollars more in Medicare benefits. The example given in Leonhardt's column is from a study that shows 56 year olds with average earnings pay about $140,000 in dedicated Medicare taxes over a lifetime, and then go on to collect $430,000 in benefits. Middle class and affluent boomers can't get off paying their share like everybody else. Its just the right way for their children and the nation's children. Ryan's plan excludes older people reaching retirement in ten years. The other major weakness is that the cuts are too deep. Things like the Pell grants which Ryan proposes to cut back to 2008 levels need to be preserved, and more money has to go into science, education and research and early childhood education for the U.S. to be competitive with China and India. The Ryan proposal places cuts that would be required so that tax revenues need to be at 18% of GDP. The number where a larger consensus exists is for tax revenues at 20% of GDP (also supported by business and the Wall Street Journal's editorial columns). This would preserve programs that are most productive for the economic future of the U.S. Ryan's proposal lets the hope for reducing costs of medical care rest entirely on future retirees deciding how much medical care (tests, procedures etc) they consume through larger cost sharing. Yet a structure and framework is needed to manage these costs effectively, and some combination of incentives to retirees to control costs and an effective structural framework is needed.
The Republican U.S. Budget proposal made by Paul Ryan in 2012
09/16/2010
Paul Ryan, chairman of the House Budget Committee, has outlined a bold proposal to bring the U.S. budget deficits down from the $1 trillion level of the last 3 years. It would bring changes to Medicare and Medicaid, and reduce the individual and corporate income tax levels from 35% to 25%. Medicare would become a premium support system with the government paying the premium for an array of private insurance plans, and Medicaid would become a block grant system.
Grouped Articles
Budget Shell Games Are Contrary to Law
Wall Street Journal 07/14/2011
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Charlie Rose Talks to Paul Ryan
BusinessWeek 09/16/2010
House GOP Budget Seeks Balance by 2015
Wall Street Journal 04/05/2011
Wall Street Journal 04/05/2011
Ryan's Plan for Medicare Is Huge Bet by GOP
Wall Street Journal 04/05/2011
President Obama's U.S. Budget for fiscal 2012
02/10/2011
Grouped Articles
Budget Shell Games Are Contrary to Law
Wall Street Journal 07/14/2011
Obama's Budget: Something for Everyone to Hate
BusinessWeek 02/10/2011
Obama Budget Said to Trim Deficit by $1.1 Trillion
New York Times 02/12/2011
Budget Plan Marks Start of Long Fight on Spending
Wall Street Journal 02/14/2011
Voters Balk at Cuts Close to Home
Wall Street Journal 02/15/2011
The risk of an American government shutdown: Time to stop play-acting and spit out the tea
Economist 04/02/2011
Martin Feldstein, Sheila Bair and other experts on the Bowles-Simpson Deficit Commission proposals
11/17/2010
Grouped Articles
The Deficit Dilemma and Obama's Budget
Wall Street Journal 11/18/2010
America's budget deficit: Speak softly and carry a big chainsaw
Economist 11/20/2010
Sheila C. Bair - Will the next fiscal crisis start in Washington?
Washington Post 11/26/2010
Debt and Taxes: Will Washington Ever Grow Up?
BusinessWeek 11/17/2010
Martin Feldstein - How to cut the deficit without raising taxes
Washington Post 11/29/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
The two US Deficit Commissions in 2010 and the Deficit from Growing Health Care Costs
01/31/2008
Bowles-Simpson Deficit Commisssion proposals, critics say, did not adequately tackle the health care part of the US Deficit. Rivlin-Domenici Deficit Commission phases out the tax exclusion on employer-subsidized health care insurance. Both fall short in addressing the health care portion of the deficit.
Grouped Articles
New York Times 12/11/2010
In Battle Over Health Law, Math Cuts Both Ways
New York Times 01/07/2011
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 04/05/2011
New York Times 04/07/2011
Second Panel Calls for Cutting Military Spending
New York Times 11/17/2010
Expert opinion on the Paul Ryan Republican deficit reduction plan of 2011-2012
09/16/2010
Grouped Articles
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Charlie Rose Talks to Paul Ryan
BusinessWeek 09/16/2010
Paul Ryan's Reverse Robin Hood Budget
Wall Street Journal 04/19/2011
The Bipartisan March to Fiscal Madness
New York Times 04/23/2011
New York Times 05/27/2011
The impact on Medicare and Medicaid of the 2012 Paul Ryan U.S. Budget Proposal
09/16/2010
Grouped Articles
Charlie Rose Talks to Paul Ryan
BusinessWeek 09/16/2010
Medicare Cost Would Rise for Many Under Ryan Plan
Wall Street Journal 04/06/2011
New Proposal Hits Old Hurdles of Budget Math
Wall Street Journal 04/06/2011
For moderates, no more fence-straddling on the budget - The Washington Post
Washington Post 04/07/2011
In budget fight, conservatives have put themselves in a corner - The Washington Post
Washington Post 04/07/2011
The Budget Battles: The Threat to Medicaid and Medicare
New York Times 04/05/2011
Bowles and Simpson of the President's Deficit Commission defend their plan
11/18/2010
Grouped Articles
Charlie Rose Talks to Erskine Bowles, Alan Simpson
BusinessWeek 11/18/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 03/03/2011
Wall Street Journal 04/05/2011
New York Times 04/07/2011
Raise Taxes, but Not Tax Rates
New York Times 05/04/2011
Republican views on the Bowles-Simpson Deficit Commission proposals
12/03/2010
Grouped Articles
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Wall Street Journal 12/03/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 04/05/2011
New York Times 04/07/2011
Alternative deficit commission report by Rivlin-Domenici
10/21/2010
Grouped Articles
Another Deficit Plan Targets Taxes
Wall Street Journal 11/17/2010
Sheila C. Bair - Will the next fiscal crisis start in Washington?
Washington Post 11/26/2010
Tax-cut deal has liberal Democrats fuming
Washington Post 12/07/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 03/03/2011
To Cut the Deficit, Look to Social Security
New York Times 04/04/2011
Questions raised about the 2012 Paul Ryan Budget Proposal by Bowles, Simpson and other experts
09/16/2010
Grouped Articles
Charlie Rose Talks to Paul Ryan
BusinessWeek 09/16/2010
For moderates, no more fence-straddling on the budget - The Washington Post
Washington Post 04/07/2011
New York Times 04/07/2011
For conflicted Ryan constituent, budget debate about more than his own future - The Washington Post
Washington Post 04/24/2011
Ryan's Plan for Medicare Is Huge Bet by GOP
Wall Street Journal 04/05/2011
A Medicare Plan That Exempts Too Many
New York Times 04/05/2011
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