Sunday, August 12, 2012
What Does “Gutting” Medicare, Medicaid, and Social Security Really Mean? The Devilish Details
One man’s “cut” is another man’s “gut”.
Americans will have a clear choice: Romney-Ryan plan to gut Social Security/Medicare, or the Dems' balanced approach to deficit reduction.
Tweet by Senator Harry Reid (D-Nevada), Senate Majority Leader
August 12, 2012 - Here are specifics of Paul Ryan’s budget proposal. You decide what devil resides in these details.
1 ' It would balance the budget by 2040, require no new revenues, and reduce federal debt from 68% of GDP to 10% of GDP by 2050.
2. It would end deductions for individuals and create two income tax rates – 10% and 25% - and reduce corporate income tax rates from 35% to 25%.
3. It would cap discretionary spending for 2013 at $1,028 trillion, 19$ billion below that currently designated - 40% of savings would come from entitlement programs; 15% from other domestic programs, with no cuts in the military, which is 20% if the budget.
4. It would repeal health law and transform Medicaid into block grant for states, who could spend the block grant money as they see fit.
5. It would increase age of eligibility for Medicare, cap growth in costs, and have government give fixed amount of money yp each beneficiary for buying private insurance or could state stay on traditional Medicare plan as long as it was compeitive with private plans. It would not apply to current beneficiaries or to those with 10 years of eligibility.
6. It would leave Social Security untouched in 2013 and would rely on bipartisan compromise to fix it in the future.
Tweet: Will Romney-Ryan budget “cut” government spending or “gut” Medicare, and Social Security – that is the question for voters to decide.