Representative Ryan’s balanced budget

Paul Ryan’s 2012 budget proposal would have balanced the budget by 2040. His 2013 budget proposal would have balanced it by 2023, but it wouldn’t have touched Medicare, Social Security, and would have increased defense spending. To balance the rest in 10 years would have required nearly a 50% cut in other discretionary spending such as – Medicaid and children’s health insurance, food stamps, child tax credit, unemployment assistance, veterans benefits, transportation, education, and medical research. This isn’t a knock on Paul Ryan, but just the arithmetic of what painful cuts or tax increases would be required to balance the budget in the next few decades.

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