Paul Ryan on Obama's Speech: 'Excessively Partisan, Dramatically Inaccurate, and Hopelessly Inadequate'
4:16 PM, Apr 13, 2011 • By DANIEL HALPER
House Budget chairman Paul Ryan just released the following statement in response to President Obama's speech on deficit reduction:
Update: Ryan's office highlights "key facts" from Obama's speech:
· Counts unspecified savings over 12 years, not the 10-year window by which serious budget proposals are evaluated.
· Postpones all savings until 2013 – after his reelection campaign.
· Runs away from the Fiscal Commission’s recommendations on Social Security – puts forward no specific ideas or even a process to force action.
· Calls for the appointment of another commission, after mostly omitting from his Fiscal Year 2012 Budget any of proposals submitted by the commission he appointed last year.
· Non-specific framework fails to meet his Fiscal Commission's own deficit-reduction goals.
· Proposes to raise taxes on the American people by more than $1 trillion, devastating our fragile economy and stifling job creation.
· Endorsed the Fiscal Commission’s ideas on taxes, which specifically called for lower tax rates and a broader base, but then called for higher tax rates. Which is it?
· Government health and retirement programs are growing at more than twice the speed of the economy. At the current rate of spending, revenue would have to rise “by more than 50 percent” just to keep debt at its current level, according to the Government Accountability Office. That means tax increases across-the-board, now and in the future.
· Strictly limits the amount of health care seniors can receive within the existing structure of unsustainable government health care programs.
· Gives more power to unelected bureaucrats in Washington to determine what treatments seniors should or shouldn’t get, against a backdrop of costs that continue to rise.
· Conceded that the relentlessly rising cost of health care is the primary reason why the nation is threatened by debt, and implicitly conceded that his health care law failed to solve the problem.
· Eviscerates the only competitive element anywhere in health-care entitlement programs – the competition amongst Part D prescription-drug plans – which allowed the drug benefit to come in 41 percent under budget.