Wednesday, April 6, 2011

Republican Budget Chart - A Choice Of Two Futures

Note that the chart is from the CBO, a bipartisan government agency.

Today, Republican Congressman Paul Ryan released his plan for massive budget cuts that would fundamentally alter the spending profile of the U.S. government over the long-term.
The headline number on the cuts: $6.2 trillion over the next 10 years.

In terms of the cut to government spending, Ryan's plan, "Brings government spending to below 20 percent of the economy, a sharp contrast to the President’s budget, in which spending never falls below 23 percent of GDP over the next decade."

We said the cuts were incredible, and they look it. Whether or not a program like this will ever be achieved is unknown, but its proposed impact on debt as a percent of GDP is dramatic.

Read more: here.

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