GOP Aiming to Cut $4 Trillion

[Toro]

Now THAT is a budget plan.

Republicans will present this week a 2012 budget proposal that would cut more than $4 trillion from federal spending projected over the next decade and transform the Medicare health program for the elderly, a move that will dramatically reshape the budget debate in Washington. ...

The plan would essentially end Medicare, which now pays most of the health-care bills for 48 million elderly and disabled Americans, as a program that directly pays those bills. Mr. Ryan and other conservatives say this is necessary because of the program's soaring costs. Medicare cost $396.5 billion in 2010 and is projected to rise to $502.8 billion in 2016. At that pace, spending on the program would have doubled between 2002 and 2016.

Mr. Ryan's proposal would apply to those currently under the age of 55, and, for those Americans would convert Medicare into a "premium support" system. Participants from that group would choose from an array of private insurance plans when they reach 65 and become eligible, and the government would pay about the first $15,000 in premiums. Those who are poorer or less healthy would receive bigger payments than others. ...

The proposal would also convert Medicaid, the health program for the poor, into a series of block grants to give states more flexibility. And it is expected to suggest significant cuts in Social Security, while proposing fewer details on how to achieve them. ...

Conservative activists who are familiar with the Ryan plan said they expect it to call for a fundamental overhaul of the tax system, with a 25% top rate for both individuals and corporations, compared to the current 35% top rate. It is expected to raise about the same amount of money as the current system, however. Lawmakers already are considering ways to accomplish that by reducing or eliminating some deductions and other tax breaks.

Some conservatives also expected the budget plan to tout a temporary tax change that would let U.S. multinationals bring home as much as $1 trillion in profits at a greatly reduced tax rate. That money currently is parked overseas, beyond the reach of U.S. corporate taxation.

...

GOP Budget Aim: Cut $4 Trillion From Spending - WSJ.com

The Republicans have been acting like pussies for some time, saying they want to cut the deficit but not cut anything that actually matters. This actually matters. Good for them for having some cahones and laying things on the line. This is a conversation America has to have.

 

[ClosedCaption]

"A Massachusetts Republican, on Thursday denounced GOP suggestions to cut social and cultural programs as “irresponsible,” In a Thursday floor speech and in a letter to Senate leaders, Brown said that while cuts “reducing and eliminating needless spending and programs are appropriate … a wholesale reduction in spending, without considering economic, cultural, and social impacts is simply irresponsible."

- Scott Brown

 

[Toro]

"A Massachusetts Republican, on Thursday denounced GOP suggestions to cut social and cultural programs as “irresponsible,” In a Thursday floor speech and in a letter to Senate leaders, Brown said that while cuts “reducing and eliminating needless spending and programs are appropriate … a wholesale reduction in spending, without considering economic, cultural, and social impacts is simply irresponsible."

- Scott Brown

Gotta cut something. Or raise taxes. By a lot, a whole lot. Pick one or the other. Or both. But America is living in a surreal world right now, racking up an enormous amount of debt while covering its eyes and shutting its hears trying to ignore the ramifications of its reckless ways.

We've got to have an adult conversation about taxes and spending. This is part of that conversation.

 

[RetiredGySgt]

"A Massachusetts Republican, on Thursday denounced GOP suggestions to cut social and cultural programs as “irresponsible,” In a Thursday floor speech and in a letter to Senate leaders, Brown said that while cuts “reducing and eliminating needless spending and programs are appropriate … a wholesale reduction in spending, without considering economic, cultural, and social impacts is simply irresponsible."

- Scott Brown

Gotta cut something. Or raise taxes. By a lot, a whole lot. Pick one or the other. Or both. But America is living in a surreal world right now, racking up an enormous amount of debt while covering its eyes and shutting its hears trying to ignore the ramifications of its reckless ways.

We've got to have an adult conversation about taxes and spending. This is part of that conversation.

The real problem is every time the Democrats raise taxes they INCREASE spending along with it. They think money grows on trees.

 

[Anachronism]

Scott Brown wouldn't know what Responsible spending was if I engraved it on a baseball bat and hit him in the forehead with it. He was a member of the Massachusetts legislature when that body voted for the medical insurance plan that is now bleeding this state dry.

 

[gekaap]

The real problem is every time the Democrats raise taxes they INCREASE spending along with it. They think money grows on trees.

And that is more of a problem than the GOP cutting taxes and raising spending, which has been their way for quite some time now.

 

[RachelMadcow]

The Democrat Platform is wealth transfer via force


Nothing more


Destroy the Democrat

Stay Free and wealthy

 

[RachelMadcow]

And baby killing of course

 

[Greenbeard]

Republicans will present this week a 2012 budget proposal that would cut more than $4 trillion from federal spending projected over the next decade...

It'll be interesting to see the proposal because this is a bit unclear. If the Medicare cuts apply only to those currently under the age of 55, presumably that means that no cuts actually occur for at least 10 years (i.e. until that cohort becomes eligible for Medicare benefits at age 65)--so does that "$4 trillion...over the next decade" number refer entirely to Medicaid and Social Security cuts?

 

[ClosedCaption]

"A Massachusetts Republican, on Thursday denounced GOP suggestions to cut social and cultural programs as “irresponsible,” In a Thursday floor speech and in a letter to Senate leaders, Brown said that while cuts “reducing and eliminating needless spending and programs are appropriate … a wholesale reduction in spending, without considering economic, cultural, and social impacts is simply irresponsible."

- Scott Brown

Gotta cut something. Or raise taxes. By a lot, a whole lot. Pick one or the other. Or both. But America is living in a surreal world right now, racking up an enormous amount of debt while covering its eyes and shutting its hears trying to ignore the ramifications of its reckless ways.

We've got to have an adult conversation about taxes and spending. This is part of that conversation.

Republicans arent serious about the debt because you wont find ONE willing to raise taxes 1 PERCENT more than the Bush tax cuts. If they were serious everything would be "on the table" but they would rather bitch and complain about people gaming the system defrauding the government...

Wait, not people finding creative ways to get out of paying taxes, or corps getting REFUNDS after paying zero taxes...The only fraud they dont like is when someone defrauds food stamps, or welfare, or medicade

Do you see the pattern? When money is removed from politics the people (the 98% of everyone else) will get represented.

Period.

 

[Hot Wire]

From a independent,Good ideas over all!cut baby cut!!!

 

[ekrem]

How much people will loose jobs by cutting budget?

22.5 Million people work for US Government.
11.5 million work in manufacturing.
The Government employs more people then the economic-sectors of construction, farming, fishing, forestry, manufacturing, mining and utilities combined.

Stephen Moore: We've Become a Nation of Takers, Not Makers - WSJ.com

 

[ekrem]

"It's our Sputnik moment, we'll become stronger. We'll cut budget and fly to Mars before the Chinese"

 

[M14 Shooter]

Good start - but, just that - a start.
Keep it up, boys.

 

[uscitizen]

Now THAT is a budget plan.

Republicans will present this week a 2012 budget proposal that would cut more than $4 trillion from federal spending projected over the next decade and transform the Medicare health program for the elderly, a move that will dramatically reshape the budget debate in Washington. ...

The plan would essentially end Medicare, which now pays most of the health-care bills for 48 million elderly and disabled Americans, as a program that directly pays those bills. Mr. Ryan and other conservatives say this is necessary because of the program's soaring costs. Medicare cost $396.5 billion in 2010 and is projected to rise to $502.8 billion in 2016. At that pace, spending on the program would have doubled between 2002 and 2016.

Mr. Ryan's proposal would apply to those currently under the age of 55, and, for those Americans would convert Medicare into a "premium support" system. Participants from that group would choose from an array of private insurance plans when they reach 65 and become eligible, and the government would pay about the first $15,000 in premiums. Those who are poorer or less healthy would receive bigger payments than others. ...

The proposal would also convert Medicaid, the health program for the poor, into a series of block grants to give states more flexibility. And it is expected to suggest significant cuts in Social Security, while proposing fewer details on how to achieve them. ...

Conservative activists who are familiar with the Ryan plan said they expect it to call for a fundamental overhaul of the tax system, with a 25% top rate for both individuals and corporations, compared to the current 35% top rate. It is expected to raise about the same amount of money as the current system, however. Lawmakers already are considering ways to accomplish that by reducing or eliminating some deductions and other tax breaks.

Some conservatives also expected the budget plan to tout a temporary tax change that would let U.S. multinationals bring home as much as $1 trillion in profits at a greatly reduced tax rate. That money currently is parked overseas, beyond the reach of U.S. corporate taxation.

...

GOP Budget Aim: Cut $4 Trillion From Spending - WSJ.com

The Republicans have been acting like pussies for some time, saying they want to cut the deficit but not cut anything that actually matters. This actually matters. Good for them for having some cahones and laying things on the line. This is a conversation America has to have.

LMAO. They think the privatization of Medicare will save money?

Damn plenty of fools around I suppose.
It will just route tax money (read Profits) thru anothe level of beaucracy before being paid to the medical industry.

Medicare has a much lower level of administrative costs than private insurance companies do.

 

[uscitizen]

"A Massachusetts Republican, on Thursday denounced GOP suggestions to cut social and cultural programs as “irresponsible,” In a Thursday floor speech and in a letter to Senate leaders, Brown said that while cuts “reducing and eliminating needless spending and programs are appropriate … a wholesale reduction in spending, without considering economic, cultural, and social impacts is simply irresponsible."

- Scott Brown

Gotta cut something. Or raise taxes. By a lot, a whole lot. Pick one or the other. Or both. But America is living in a surreal world right now, racking up an enormous amount of debt while covering its eyes and shutting its hears trying to ignore the ramifications of its reckless ways.

We've got to have an adult conversation about taxes and spending. This is part of that conversation.

The real problem is every time the Democrats raise taxes they INCREASE spending along with it. They think money grows on trees.

Well as we found over the last decade or so cutting taxes and increasing spending does not work too well either.

 

[Old Rocks]

If you are not going to discuss increasing tax revenue, and that does mean increasing taxes, then don't bother to discuss cut in spending. For all you are saying is that you wish to continue the redistribution of wealth from the middle class and the working poor to the very wealthy.

The present debacle was not created by the middle class or the working poor. It was created by those in the very top of the financial sector. By men making tens to hundreds of millions a year. And they still are, while millions of working people are out of work with no medical insurance, and often have lost their homes.

The present blaming of the increase in government debt at all levels on the working people, school teachers, union men and women in what ever industry, while giving huge tax breaks to big business is a prime example of the hypocracy of the GOP/Teabagger Party.

Any new tax structure must not be revenue neutral, it must increase the tax flow into the government coffers at all levels.

Again, if you expect to cut benefits to every body below the magic 2%, at the same time giving those people more tax breaks, all you will do is create an extremely divided nation, a nation that will eventually take actions that the very wealthy will regret. And, probably, the rest of us, after the fact.

 

[xsited1]

GOP Aiming to Cut $4 Trillion

Somebody think of the children!!!!

USAID Chief: House GOP's Budget Cuts Would Kill 70,000 Children

 

[Old Rocks]

We have just about the highest infant mortality of any industrial nation. Cutting medical benefits for the young mothers will only make this worst. Ain't America great?

 

[Avatar4321]

It's a good start. we need this budget balanced and we need to be paying off our debt or we will never have a strong economic recovery.