Tag Archives: National Debt

Commentary

How Obama’s new 2011 budget fails the poorest children in two ways

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First of all, Obama’s budget ensures that future generations will be saddled with debt, paying for the entitlement programs (Social Security and Medicare) of their aging parents and grandparents.

Behold, the evidence of generational theft:

(Click for larger image)

Recall that the Democrats gained control of Congress at the beginning of 2007.

The second way that Obama’s budget hurts the poorest children is by denying them the right to access better schools.

Excerpt:

The president’s proposed FY2011 budget increases funding to the Department of Education by $3.5 billion. But despite this significant increase, his budget effectively cuts the freedom of choice and educational opportunities from the lives of children living in the District of Columbia. What began last year as a low-profile attempt to quietly phase out the D.C. Opportunity Scholarship Program has become a noticeable agenda of denying school choice to District families.

[…]The most recent casualty in the struggle to save the successful voucher program’s future is Holy Redeemer Catholic School. The Pre-K through 8th grade school, which has served the community of Northwest Washington, D.C. since 1955, is closing its doors. The Washington, D.C. Archdiocese’s decision to close or combine four Catholic schools in the area speaks to the difficult situation face by Catholic schools in general and the important role voucher programs play in the schools’ ability to provide a high quality, private school education.

This is in spite of the fact that school choice works.

Excerpt:

A recent report from School Choice Wisconsin presented an analysis of the number of calls made to 911 from schools in Milwaukee, similar to a Heritage analysis from last summer written up in The Washington Post. The Milwaukee School Safety report found that choice schools appeared to be relatively safer than Milwaukee’s traditional public schools:

Taking into account enrollment differences, police calls to [Milwaukee public schools] occur at a notably higher rate than at independent charter schools or at schools in the [Milwaukee parental choice program]. The [Milwaukee Public School] call rate per pupil in 2007 is more than three times that at schools in the [Milwaukee Parental Choice Program].

In addition, a new report out this week from Dr. John Robert Warren of the University of Minnesota analyzed the graduation rates of students attending high schools in Milwaukee, comparing the graduation rate of students participating in the school voucher program with the graduation rate of students who attend traditional public schools in the city. Warren found that during the 2007-08 school year, 77 percent of students in the school voucher program graduated compared to 65 percent in the traditional Milwaukee public school system.

Obama is in the pocket of the teacher unions, and he must ensure that they keep their jobs regardless of failure, so that the teacher unions can continue to contribute union dues into Democrat coffers. He doesn’t care about children – he cares about getting elected. It’s just another way that the irresponsible grown-ups attack the things that children need to succeed: a good education, low taxes, a job, and an intact family.

Videos

Paul Ryan confronts Tim Geithner on Obama’s 1.56 trillion budget deficit

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Rep. Paul Ryan

Seriously. I’m never seen such reckless directness from a politician since Michele Bachmann’s passionate speeches.

CANDOR. AUTHENTICITY. PASSION. KNOWLEDGE.

Contrast Obama’s flowery hopenchange speeches with this straight talk:

Next time, let’s elect someone with substance. Paul Ryan.

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News

Paul Ryan declares war on Obama’s record 1.56 trillion dollar budget deficit

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Rep. Paul Ryan

Conservative Republican Paul Ryan’s response to Obama’s new 2010 budget.

Excerpt:

“For the duration of the Administration’s 10-year budget, the deficit never falls below $700 billion, and never falls below 3.6 percent of GDP – a level the Administration’s own budget director has called ‘unsustainable.’ Debt held by the public doubles over 5 years, triples over 10,   and exceeds 60 percent of GDP as a share of the economy this year – surpassing last year’s 50-year high. Debt continues to rise to consume 77.2 percent of our economy by the end of the budget window. Even the countries of the European Union, hardly exemplars of fiscal rectitude, are required to keep their debt levels below 60 percent of GDP.

“The Administration will attempt to focus attention on a handful of proposals supposedly aimed at tempering the Federal Government’s explosive growth. But these have far more to do with calming Americans’ concerns than with doing anything to address them. His pay-as-you-go proposal has been waived or circumvented and only locks in deficits at their current high levels. His non-binding commission simply punts on the critical budget decisions that Members of Congress got elected to make. Finally, his so-called ‘freeze’ on some discretionary spending follows an 84-percent increase – and has no clear means of enforcement.

These charts accompany Paul Ryan’s statement. (H/T Michelle Malkin)

First, government spending:

Second, debt held by public as % of GDP:

The problems started when the Democrats got control of Congress in late 2006. (The House controls spending) Talking about “spending freezes” on tiny amounts of the budget now has no effect because we are losing a trillion dollars-and-a-half dollars a year now. It’s just politics meant to deceive the people who still believe Obama’s honeyed words.

More details about Obama’s budget are here on the Republican House Budget Committee web site.

What is Paul Ryan’s alternative?

Neil Simpson posted a link to an overview of Paul Ryan’s plan.

Excerpt:

Health Care
•    Provides a refundable tax credit — $2,300 for individuals and $5,700 for families — to purchase coverage in any state, and keep it with them if they move or change jobs.
•    Allows Medicaid recipients to take part in the same variety of options by using the tax credit to purchase high-quality care.

Medicare
•    Establishes and fully funds Medical Savings Accounts for low-income beneficiaries to cover out-of-pocket costs, while continuing to allow all beneficiaries, regardless of income, to set up tax-free MSAs.

Social Security
•    Offers workers under 55 the option of investing over one third of their current Social Security taxes into personal retirement accounts, similar to the Thrift Savings Plan available to federal employees.

Tax Reform
•    Provides taxpayers a choice of how to pay their income taxes – through existing law, or through a highly simplified income tax system that fits on a postcard with just two rates and virtually no special tax deductions, credits or exclusions (except the health care tax credit).
•    Promotes saving by eliminating taxes on interest, capital gains and dividends and eliminates the death tax.

Read the rest, and see if these ideas that promote saving and investing, instead of borrowing and spending, make more sense to you than Obama’s spending millions of taxpayer dollars on turtle tunnels.