CONNECT
Romney’s and Ryan’s Economic Plan
NationofChange / Video Feature
Published: Tuesday 28 August 2012
Robert Reich breaks down Romney’s and Ryan’s Economic Plan.
Romney never showed his own economic plan so he got a running mate who had one which he thinks is great. Robert Reich breaks down the five points of the Ryan economic plan: more unemployment, take from poor and give to rich, turn medicare into vouchers, adding money to defenses, won't reduce the budget deficit.
This article was originally posted on Robert Reich's blog.
Get Email Alerts from NationofChange
ABOUT Robert Reich
ROBERT B. REICH, one of the nation’s leading experts on work and the economy, is Chancellor’s Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. Time Magazine has named him one of the ten most effective cabinet secretaries of the last century. He has written thirteen books, including his latest best-seller, “Aftershock: The Next Economy and America’s Future;” “The Work of Nations,” which has been translated into 22 languages; and his newest, an e-book, “Beyond Outrage.” His syndicated columns, television appearances, and public radio commentaries reach millions of people each week. He is also a founding editor of the American Prospect magazine, and Chairman of the citizen’s group Common Cause. His widely-read blog can be found at www.robertreich.org.
Top Stories
By Kiley Kroh
6 comments on "Romney’s and Ryan’s Economic Plan"
Huntsville, AL
August 29, 2012 12:41pm
The romney - ryan budget will bankrupt Medicare by 2016.
Just curious, how much longer are repubs going to kick that dead horse about the President taking money from Medicare? It's not that difficult of a concept to grasp. The savings coming from the ending of defrauding Medicare by the Medicare Advantage program is going to be significant. The savings realized by reducing costs for medical procedures will contribute a significant amount. The reduction in costs of medical procedures comes from the tens of millions more people that will now be insured thanks to the ACA. More insured patients means the medical institutions will no longer have to absorb the costs of treating the un-insured. There are also the added benefits of free screenings for a number of diseases, the closing of the donut hole, and being able to keep your children on your insurance while they attend college all courtesy of the ACA (for you conspiracy theorists, that's what you call Obamacare). The ACA isn't perfect but it's miles ahead of anything the repubs have to offer and it can easily be modified to accommodate whatever the future brings.
The romney - ryan plan turns Medicare into a voucher system that will costs seniors $$Thousands$$ in out-of-pocket expenses. As stated, it will also bankrupt Medicare.
Any repub that claims to have the interest of seniors at heart is lying. Repubs have been trying to kill Medicare from the day the bill was passed. The unfunded Part D plan is just one phase of it. Tell me, what idiot would not give a group, with the purchasing power of Medicare, the ability to negotiate prices? The vouchers will complete the destruction.
Repubs also want to destroy Social Security. Their plan to privatize it will deplete the trust fund by 2025. As it now stands that should happen around 2045. If the cap is raised slightly Social Security will be solvent for the next 75 years, easily getting it past the spike of baby boomers retiring. That also gives us 75 years to work out a plan for long term survival of SS.
Face the facts. The republican crash of 2007 - 2008 took the savings of many Americans and destroyed the retirement accounts of many more. The stock market is too volatile to depend on for long term savings. Social Security has survived many crashes and has taken in much more than it has paid out for all but a small fraction of the time it has existed. It is the only long term insurance people can be absolutely sure of. A privatized Social Security will be vulnerable to the constant bust and boom cycle of the stock market. It is not welfare. It is benefits we all earned by paying into the system. I do not want to see my Social Security dependent on the stock market.
The romney - ryan plan to close loopholes is a Trojan horse. The taxes gained by closing the loopholes will simply be restored to the rich by giving them massive tax cuts. It does no good to close loopholes that will raise revenues by billions when you simply give those billions back in more massive tax cuts. All it does is save the rich folks some paperwork when doing their taxes.
Repubs claim ownership of patriotism. That's false. What they own is nationalism and jingoism. What could be more patriotic than supporting your government by paying your fair share of taxes? How can a party that advocates for shrinking government so it can be drowned in a bath tub claim to be patriotic?
Repubs complain about people living below the poverty level paying no fed income taxes. Where are the complaints for the 47% of folks that make over $250,000 / year paying no taxes? Simple. It's not about taxes. It about the class war the repubs started in the 1980s when they started despoiling the middle class of their wealth.
August 28, 2012 5:21pm
Y'know, Oldhat, you've changed your commenting tactics. You used to just say illogical things in bad English. Now you go to the internet, dig up a few "facts" and pretend they're yours. In education circles, that's called plagiarism. It's illegal. And it's still written in bad English.
August 28, 2012 9:17pm
I don't think Oldhat is eligible to vote. Don't you need a bit of education? It's obvious (s)he has none. Maybe it's a 7 year-old messing around on the computer.
August 28, 2012 5:20pm
It's really simple. Those of us that care, we've paid into the system all our lives. They want to take that away from us, the US citizens that paid into the system, so that they can give the money to all of those that have bought out our political system. America, You Should Be OUTRAGED!
August 28, 2012 10:48am
1]real austerity plan placed into effect in iceland is working places like greece are still talking about it 2 medicare going broke ryan plan go to vouchers for those under 55 this gives them at least 10 yrs to plan for any gap vs bho pan take $700+ billion out of medicare and have old people die [ see blade runner] this will help save social security i do agree with bob no cuts for anyone and no defense increases pull back to USA borders bho plan for doing away with debt is spending which will cause hyper inflation which has been used by other countries
August 28, 2012 9:50am
More Tax Cuts for Billionaires and Millionaires and Less Government Regulations on Business and Industry -- already a PROVEN course for Disaster.