Skip to comments.The Ryan budget proposes lower deficits and less debt than the Obama budget
Posted on 03/20/2012 8:21:59 AM PDT by PhxRising
This is the second in a three part post.
You will see why I am focusing on displaying proposed results rather than proposed changes. I hope that todays post drives home my point about the benefits of apples-to-apples comparisons of results without the distraction of the baseline/increase/decrease squabbling.
The Ryan budget proposes a 5% deficit for FY13, lower than the Presidents proposed 6.1% deficit for that same year. Chairman Ryans proposed deficits are lower than the Presidents proposed deficits in each year of the next ten. The gap widens over time to a maximum of two percentage points in 2021. The Ryan deficits would drop below the 2.1% historic average in 2015 and would remain significantly below the average through the rest of the 10 year budget window. The Presidents budget is above the average in each year of the next 10. At the end of the decade Chairman Ryan proposes a 1.2% deficit compared to the Presidents proposed 3.0%.
Again by focusing on results rather than changes relative to a disputed baseline, the comparison is quite easy:
Under the Ryan budget debt would peak at 77.6% of the economy in 2014. Under the Presidents budget debt would peak at 80.4% of the economy in that same year. The Ryan budget would cause debt to steadily decline to 62.3% of GDP by the end of the decade. Under the Obama budget debt would flatten out by 2018 and end the decade at 76.3% of GDP, 14 percentage points higher than under the Ryan budget. At the end of 10 years debt would be declining relative to the economy under the Ryan budget, while it would be flat under the Presidents budget. For comparison the pre-crisis (1960-2007) average debt/GDP was 36.3%.
(Excerpt) Read more at keithhennessey.com ...
Yeah, here's where you posted the first blog post under "News":
I note also that you have excerpted this Wordpress blog that you have posted under "News".
No doubt you'll post the third part the same way.
I like it.
Foolish exercise in futility.
Measuring the deficit as a percentage of GDP is extremely dishonest!
We spend ~3 Trillion - we “earn” ~2 Trillion, the deficit is
~1 Trillion, ~33% of expenses or ~50% of revenues.
“Over each year of the next decade the Ryan budget would result in lower deficits, less debt, and a better long-term debt trend than the Presidents budget. “
But still, it will increase the debt every year. We need NO deficit.
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