Obama’s Economic Path Compared to Ryan’s Path to Prosperity

August 17, 2012
By

 

Differences between the President’s Path and Ryan’s Path to Prosperity:

The President’s Budget

The Path To Prosperity
Size of Government

Size of government never falls below 23 percent of the economy, making it more difficult for long-term, private sector job and economic growth

Brings size of government to 20 percent of economy by 2015, allowing the economy to grow and create jobs

Spending

Net increase of $1.5 trillion

Cuts spending by $5 trillion relative to President’s budget

Debt

Debt skyrockets in the years ahead by adding $11 trillion to the national debt over the next decade. Puts the debt cost at $200,000 per household

By reducing debt drivers, this budget reduces gross debt by over $3.5 trillion relative to President’s budget; Works to pay off the debt over time

Deficit

Never balances the budget and fails to fulfill promise to cut the deficit in half by proposing a record fourth straight trillion-dollar deficit plan

Puts budget on path to balance by reducing deficits by over $3 trillion relative to President’s budget

Taxes

Inhibits economic growth by adding new hurdles for hardworking taxpayers; Imposes a $1.9 trillion tax increase

Reforms tax code to make it simple and fair; Prevents President’s dangerous tax increases; Lowers everybody’s tax rates and closes special interest loopholes.

Health Care

Empowers board of 15 unelected bureaucrats to cut Medicare in ways that restricts access and can deny care to current seniors.

Repeals President’s health care law; Advances bipartisan solutions that put patients in control and limits the heavy hand of bureaucrats; Ensures a strengthened Medicare program for future generations and no changes for current seniors

National Defense

Slashes defense spending by nearly $500 billion; Puts troops at risk by dangerously ignoring debt drivers and making them pay for Washington’s fiscal mismanagement

Prioritizes national security by preventing dangerous, indiscriminate cuts to the defense budget; Identifies strategy-driven savings, while funding defense at levels that keep America safe

 

WSJ, March 20, 2012

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