Budget brouhaha: Chairman of presidential deficit commission says Ryan’s budget is better than Obama’s

by editor on May 9, 2011

Next thing you know, the President will send a Navy Seal team after Erskine Bowles.

Bowles, a Democrat who co-chaired the Presidential Deficit Commission and was appointed by Barack Obama, says the President’s budget proposal falls short on several key goals. In fact, he says it’s inferior to Paul Ryan’s plan.

Bowles: It is $4 trillion, however, over 12 years. It is heavily back-end loaded, so when you compare it to the Ryan plan and to the Commission’s plan, which also has $4 trillion in savings, it is probably more like $2.5 trillion. And in fairness, the way it is setup, according to our analysis, it really doesn’t stabilize the debt, and the debt as a percentage of GDP gets up to around 77 percent and it never gets to primary balance, which is about a deficit-to-GDP ratio of around 3 percent.

Other than that, how did you like the play, Mrs. Lincoln?

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6 Comments on "Budget brouhaha: Chairman of presidential deficit commission says Ryan’s budget is better than Obama’s"

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Pittsburgh Z
Guest

There is a time coming soon where our politicians MUST do the right thing…and it will be painful.

But we are all to blame for allowing them to get away with ruining this country’s economy.

KimmyQueen
Guest

I agree. However I dont think politicians will do the right unless their arms get twisted.

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[…] Bowles, former chief of staff to Bill Clinton, spoke of the administration’s debt reduction plan: It is $4 trillion, however, over 12 years. It is […]

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[…] Bowles, former chief of staff to Bill Clinton, spoke of the administration’s debt reduction plan: It is $4 trillion, however, over 12 years. It is […]

deepthinker
Member

Erskine needs to stay away from the parks in DC.

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