Paul Ryan Initiates the Budget Wars

Paul Ryan Budget

The budget wars are ON with Paul Ryan unveiling the House Republicans budget on Tuesday.

The Republicans’ plan, introduced by Representative Paul Ryan, is very “Paul Ryan” in that it’s similar to previous budgets he’s touted and it’s alarmingly Republican. Full of the same ideas already rejected by voters in November, the budget proposed to cut $4.6 trillion over the next ten years without increasing taxes.

The budget seeks to repeal Obamacare, cut spending on Medicaid, turn Medicare into a voucher system, get rid of the Wall Street regulatory laws, and scrap financing for the high-speed rail network. Not to worry, defense spending will remain essentially untouched.

Ryan’s budget also sets a goal of slashing the top tax rate for the rich to 25 percent from 39.6 percent. Yikes. How will this go over with the Democrats? Spoiler alert: Obama and Ryan very different visions of how to fix government finances.

Senate Democrats plan to offer a rival budget on Wednesday which will be a stark departure from the austerity measures of the Republican plan. More specifically, the Democrats’ budget would create new government initiatives, expand others and seek to generate more tax revenue. But the House Republicans will almost certainly reject whatever is thrown at them. Indeed, both Democrats and Republicans recognize that neither budget is likely to pass both the House and Senate as is. So basically, each party is just presenting its budget priorities in hopes of negotiating some kind of budget compromise.

Considering Paul Ryan’s budget pretty much wipes out some of Obama’s biggest legislative achievements, this is going to be one tough negotiation.

Via: New York Times

Time to lighten the mood with a quick poll. Who’s hotter: The real Paul Ryan or the “random guy” dressed as Paul Ryan?

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