Posted on 02/07/2010 3:13:03 PM PST by Libloather
Rep. Ryan proposes radical solution to budget problem
By Ezra Klein
Washington Post Staff Writer
Sunday, February 7, 2010
I spent the first part of the week thinking about President Obama's proposal for next year's budget. It's a modest document meant to take current policy and nudge it forward and leftward while beginning the hard work of pushing the deficit downward. It makes its changes at the edge of the state, freezing growth here and expanding programs there.
But I spent the latter part of the week thinking about the proposal from Rep. Paul D. Ryan (R-Wis.) for what our budget should look like 60 years from now. Ryan's budget is a radical document that takes current policy and rolls a live grenade underneath it. Social Security? Ryan's adds private accounts. Medicaid? Ryan privatizes it. Medicare? Same thing. Health care? Ryan repeals the subsidy for employer-provided insurance, replacing it with a tax credit.
The boyish Ryan is a conservative darling and the ranking Republican on the House Budget Committee, but there's nothing conservative about this document. It does not respect, much less preserve, the status quo. But then, that's a point in Ryan's favor. The status quo does not deserve our respect. It is unsustainable. Left unchecked, it will bankrupt our country. On that, Ryan's radicalism is welcome, and all too rare. The size of his proposal is shocking, but it is proportionate to the size of our problem: According to the Congressional Budget Office, which examined a simplified version of his proposal, it would wipe out our projected long-term deficits.
(Excerpt) Read more at washingtonpost.com ...
Private health accounts are a crucial component of Medicare reform. First, they would contain medical inflation to the benefit of all payers - including Medicare - by making millions of consumers more price-sensitive. Second, they would enable tomorrow's seniors to save for their retirement health expenses, including premiums, deductibles and copayments under Medicare and Medigap plans. Finally, health accounts are an investment in Medicare reform. H.R. 2596 would accustom Americans under age 65 to exercising more control over their own health care dollars. This would create an enormous constituency for future Medicare reforms based on choice and competition, rather than rationing and controls.
Thanks, that’s a good point to make but still for people in their working years.
he’s going to be the next Newt and I mean that in only the best way. The House GOP lost their way with with Hastert, delay and boehner.
It would scare some of the seniors, but if seniors had privatized Medicare and S.S. all their working years, Medicare/S.S. would not be headed for bankruptcy today.
I know how to cap all this and end it,you have FR mail.
Oh my goodness .. the left is not going to like that at all.
And the president .. well it ruins all his plans to bankrupt the country .. I can hardly wait to hear what Rush and others have to say about this plan tomorrow.
Welll....it would be nice if they would not basically REQUIRE Medicare after age 66...or whatever it is....
Read the link on post #21.
It is age 65. Yes, many people would like to retain their existing insurance. The percentage of doctors not accepting Medicare patients is around 10% and growing. Nine out of 10 people on Medicare have supplemental private insurance.
It wouldn't do anything. In 2010, apending on social security, medicare, defense, and interest on the national debt will equal 102% of federal revenues. So we are at a point where we can eliminate all federal departments and employees not in these four categories entirely and not balance the budget. We are at the point where someone needs to touch the third rail if we are to survive.
ping!
BUMP for later. If he can get any traction on this I’d be for it but the devils in the details.
Ryan’s plan would be in line with Article 1 Section 8 of the Constitution! How dare he!
the proposal from Rep. Paul D. Ryan (R-Wis.) for what our budget should look like 60 years from now
A freeze and roll back by attrition starts with something doable, now. The hiring freeze was Reagan's first shot, and when the air controllers' union tried to roll him he shut them down. By that means you start to coalesce so that some of these bigger, longer term goals become workable.
Thanks for the ping!
Some will say privatization is also wrong, because the govt. shouldn’t force SS or Medicare on us, even if we privatize.
Do you mean where it says “general Welfare of the United States;”?
The Next Six Bailouts?
http://abcnews.go.com/Business/bailouts-/story?id=9456477&page=1
Was the government’s $3.8 billion infusion of cash into GMAC last week a sign of what’s to come in this new year?
Some experts expect to see billions more in bailouts in 2010 — this despite the fact that all nine original recipients of the government’s Troubled Asset Relief Program (TARP) have repaid the tens of billions in loans they received in 2008 and 2009.
Read more at abcnews.go.com ...
The next six :
Fannie Mae and Freddie Mac
Federal Housing Administration
AIG
Citigroup
States
Pension Benefit Guaranty Corporation
Other unfunded bailouts strategically and/or stupidly omitted by ABC Smooze :
FDIC
Medicare, Medicaid and ObamaCare
Social Security
Civil Servant Pensions
Many more banks when ARM’s hit and the commercial R/E bubble pops
Several trillion in short term debt rolloverswithin the next couple of years
A couple of trillion or so to foreign governments who want to cash out of Treasuries
A few trillion in added interest costs when the U.S. loses its AAA rating and/or when interest rates skyrocket
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.