Democrat Spending Policies Insure Future Default of the US Economy

"In 2013, federal spending approached $3.5 trillion and the deficit dropped to 'only' $642 billion. Some are using this small improvement in the nation’s fiscal situation to avoid further budget tightening. But as the figures and graphics in this report show, this is the wrong conclusion to draw. Following four years of trillion-dollar deficits, the national debt will still reach nearly $17 trillion and exceed 100 percent of gross domestic product (GDP) at the end of the year. Publicly held debt (the debt borrowed in credit markets, excluding Social Security’s trust fund, for example), is alarmingly high at three-quarters of GDP. Without further spending cuts, it is on track to rise to a level last seen after World War II."

"Deficits fell in 2013 because President Obama and Congress raised taxes on all Americans, the economy saw slight improvement which helped to bring in more revenue, and spending cuts from sequestration and spending caps under the Budget Control Act of 2011 took effect."

"The nation should not take this short-term and modest deficit improvement as a signal to grow complacent about reining in exploding spending. Though deficits will decline for a few more years, existing spending cuts and tax increases will not prevent them from rising soon, and within a decade exceeding $1 trillion once again. Driving this is federal spending which, despite sequestration cuts, will grow 69 percent by 2023."

"The nation’s long-term spending trajectory remains on a fiscal collision course. Total spending has exploded by 40 percent since 2002, even after inflation. Some programs have grown far in excess of that. Defense, however, has been slashed. Social Security, Medicare, Medicaid, and Obamacare are so large and growing that they are on track to overwhelm the federal budget. While the Budget Control Act of 2011 and sequestration are modestly restraining the discretionary budget, mandatory spending—including entitlements—continues growing nearly unabated. Without any changes, mandatory spending, including net interest, will consume three-fourths of the budget in just one decade."

"Obamacare will add $1.8 trillion to federal health care spending by 2023. By 2015, health care spending will overtake Social Security as the largest budget item, including Obamacare’s coverage expansion provisions: a massive expansion of Medicaid and subsidies for the new health insurance exchanges."

"While mandatory spending is growing out of control and needs reform, there are also plenty of places to cut in the rest of the budget. For example, the Internal Revenue Service spent $4.1 million on a lavish conference in 2010 for 2,609 of its employees in Anaheim, California. Expenses included $50,000 for line-dancing and 'Star Trek' parody videos, $135,350 for outside speakers, $64,000 in conference 'swag' for the employees, plus free meals, cocktails, and hotel suite upgrades."

"Beyond waste, the federal government is too big. Energy spending increased over 2,000 percent since 2002—after adjusting for inflation. Today there are roughly 80 means-tested anti-poverty programs." (Editor's Note: In addition to the ballooning of energy spending and during the recent shutdown, 93% of the EPA was deemed non-essential).

"Washington must stop kicking the can down the road, or we could soon find ourselves teetering on the edge of a Greece-style meltdown. Instead, lawmakers should eliminate waste, duplication, and inappropriate spending; privatize functions better left to the private sector; and leave areas best managed on a more local level to states and localities. And they should make important changes to the entitlement programs so that they become more affordable and benefits help those with the greatest needs."

"It is not too late to solve the impending spending and debt crisis, but the clock is ticking."

Please see here for all of the graphs and the fiscal breakdown (no pun intended).

Ryan: New House Republican budget includes ObamaCare repeal

"Wisconsin Rep. Paul Ryan, chairman of the House Budget Committee, said Sunday that his new budget includes the repeal of President Obama’s health-care reform law known as ObamaCare."

"Ryan told 'Fox News Sunday' that the new proposal will make enough cuts to balance the federal budget in 10 years, compared to his previous one that tried to achieve that goal in 25 years."

"'We think we owe the American people a balanced budget,' the Republican congressman said."

The rest of the article is here.

Usually, congressional consideration of the federal budget begins once the President of the United States submits a budget request. The budget request includes funding requests for all federal executive departments and independent agencies.

As required by the Budget and Accounting Act of 1921, President Obama was supposed to submit a budget request to Congress no earlier than the first Monday in January, and no later than the first Monday in February. To date, President Obama has failed to follow the law and submit a budget to Congress. In fact, Obama has missed the budget deadline more than any president since the 1920s.

Failing to follow the law (again) is simply another political move by President Obama, as President Obama likely does not want to have his budget taken as an opening offer in the coming fight over raising the nation's $16.4 trillion debt ceiling.

Yes, Paul Ryan Spoke the Truth About Obama's Fiscal Record at the Republican Convention

"Progressive bloggers and TV personalities are up in arms about Paul Ryan’s speech at the Republican National Convention last night. Several of their accusations revolve around Paul Ryan’s own fiscal record, and his description of President Obama’s. I asked my liberal friends on Twitter to send me an itemized list of Ryan’s alleged lies, and they kindly obliged. So far, Ryan appears to have the better of the argument."

"Charge #1: Paul Ryan accused Obama of cutting Medicare by $716 billion, but Ryan’s own budget preserved those cuts.

"It’s true that Ryan’s budgets in 2011 and 2012 preserved Obamacare’s cuts to Medicare. However, there is a huge difference between cutting Medicare by $716 billion to fund $1.9 trillion in new health spending, as Obamacare did, and cutting Medicare by $716 billion to shore up the solvency of the Medicare program itself, as the Ryan budget sought to do." Ryan is correct.

"Charge #2: Paul Ryan criticized Obama for ignoring the recommendations of the Simpson-Bowles deficit commission. But Ryan voted against those recommendations himself.

"It’s true that Paul Ryan voted against the Simpson-Bowles recommendations. He did so because Simpson-Bowles raised taxes while doing little to nothing about health-care spending, the biggest driver of growing deficits. However, by rejecting Simpson-Bowles, Ryan felt morally obligated to put forth his own plan, and did so—several times, in the form of his Path to Prosperity and his 2011 and 2012 House budget resolutions."

"By contrast, President Obama scuttled a bipartisan Congressional deal to achieve long-term fiscal reform. A few months ago, President Obama sent a budget to Congress for fiscal year 2013, that did not bother to attempt to balance the budget, and was defeated unanimously in both houses, failing to even get a single Democratic vote." Ryan was correct.

The rest of the article is here. Oh yes. I almost forgot. When did the Janesville GM Plant close?

The Janesville GM Plant was closed in 2009 - during Obama's administration.

A detailed article is here.

Miami University Grad Selected as Romney Running Mate

Editor's Note: Paul Ryan is the real deal. While I was busy competing gymnastics and never met him personally, Paul Ryan was in a couple of my political science classes. As a classmate of Ryan's at Miami University, I can attest to you that he is a solid conservative and has been challenging the left for over 20 years. Romney and Ryan will be bringing bold and fesh ideas to the national debate. Do we want to avert the impending financial crisis or follow the Obama plan - trillions and trillions of debt.

Miami University is a coeducational public research university located in Oxford, Ohio, United States. Founded in 1809, it is the 10th oldest public university in the United States. In its 2012 edition, U.S. News & World Report ranked the university 3rd for best undergraduate teaching at national universities.

Now we can add Paul Ryan in Miami's accolades.