Thursday, April 7, 2011
It's time to be really frightened. At last, we see the true stripes of the modern Republican Party. After, giving tax breaks to the rich, busting the unions, and giving tax advantages to big business; they will attack the deficit by reducing benefits for the elderly, the sick, and the poor. Privatizing Social Security and vouchering Medicare will be good for Wall Street and the insurance companies but not for the would-be beneficiaries.
Rep Paul Ryan states that his "Plan for Prosperity" will pay off the debt. That may sound good to some, but we know that it doesn't stand up to simple accounting. As long as the we run a foreign trade deficit, dollars will be going out of the country. Those dollars will come from either the government sector or the private sector. If the government does not run a deficit those dollars shipped abroad will come from the private sector. That is, wealth will be drained from the private sector excluding, of course, Wall Street and the insurance industry. Is that what we mean by "prosperity?"
The Ryan budget is both inhumane and stupid. It further enriches the rich at the expense of the disenfranchised and doesn't pass the simple test of basic accounting.