From Zerohedge
The Scariest Charts From Paul Ryan's Proposed Budget
A little while ago, Paul Ryan revealed his proposal for a US budget titled "The Path to Prosperity" which is a 91-page waste of time, because if America nearly fired more people than were employed as a result of an $85 billion reduction to the increasing US rate of spending, at least according to math and logic-challenged Maxine Waters, Ryan's suggestion to really gut spending by cutting $4.6 trillion from the deficit over the next decade would be Armageddon incarnate as interpreted by the Obama administration. Which, no matter what one thinks of Ryan's political views, is unfortunate as the fundamental ideas contained in the budget are spot on: America has an unsustainable spending problem which, however, simply can not be resolved, period. After all - why bother: Bernanke will fund US deficit spending until the very end.
So while we present the budget in its entirety for those who need a handy paperback to print out, below we have cropped the key, read scariest charts, from Ryan's budget. They are self-explanatory.
From MNI
US Budget Group: Ryan Plan Is Good 'Starting Point' For Talks
By John Shaw
--CRFB Praises Ryan For Attacking 'Drivers' of Deficit
--But Budget Group Says Ryan Plan Doesn't 'Lend Itself' To Bipartisan Accord
WASHINGTON (MNI) - The Committee for a Responsible Federal Budget, a centrist fiscal group, said Tuesday that House Budget Committee Chairman Paul Ryan's fiscal year 2014 budget plan represents a good "starting point" for bipartisan fiscal talks this year.
In its analysis of the Ryan budget, the budget group said Ryan's plan attacks the "drivers" of future deficit and debt.
Ryan's plan includes "substantial reforms to health programs, especially Medicaid and significant reductions in domestic discretionary spending and other mandatory spending programs," the Committee for a Responsible Federal Budget said.
"It is very encouraging to see an aggressive deficit reduction proposal that addresses the drivers the nation's long-term fiscal challenges, including entitlement programs in order to put the debt on a clear downward path," the budget group said.
It said that Ryan's budget "deserves praise for jump-starting the budget conversation, but this only works if it is the beginning rather than the end of the discussion."
The Committee said Ryan's deep cuts in spending but decision to include no new revenues to cut the deficit "does not lend itself to bipartisan support."
Ryan's budget outlines $4.6 trillion in ten year savings and brings the federal budget into balance by 2023. It calls for tax reform, overhauling Medicare and Medicaid and repealing the Affordable Care Act.
Budget resolutions are congressional blueprints that set broad spending and revenue goals and make deficit estimates. Budget law requires Congress to approve a final budget resolution by April 15.
--MNI Washington Bureau; tel: +1 202-371-2121; email: jshaw@mni-news.com
