Ryan’s Plan Pushes Debt Limit UP ~ 9 Trillion

Well, if anyone thought the GOP was pushing to NOT raise the debt ceiling you would be both wrong and naive. As I pointed out below, Paul Ryan had already stipulated this way back in January. Apparently Senator Schumer’s office thought they were being prescient earlier this week by intimating that just last week the GOP had only recently gone down this road. Schumer needs to do some fact checking, or perhaps stop in here for real enlightenment!

I have some numbers to compare to my estimate of 2.5 to 5.0 trillion as mentioned the other day. My assumption then was an amount of increase for the next budget year, assuming that would be the end of it for the foreseeable future… Below are the Ryan numbers right out of the proposed legislation he ran around Wisconsin advertising..

My admonition regarding taking him seriously as a bold fiscal conservative stands. I see no long term commitment or overt strategy whatsoever to re-forming (reducing) the size of government at the federal level.

Here is a portion of the actual text. You can look at the whole plastic bananna budget proposal here. Please note that I have added in parenthesis the annual increase.. All told, Ryan’s plan increases the debt limit just shy of 9 trillion dollars in 10 years..

CONCURRENT RESOLUTION
Establishing the budget for the United States Government
for fiscal year 2012 and setting forth appropriate budgetary
levels for fiscal years 2013 through 2021.

(5) DEBT SUBJECT TO LIMIT.—Pursuant to
23 section 301(a)(5) of the Congressional Budget Act
24 of 1974, the appropriate levels of the public debt are
25 as follows:

1 Fiscal year 2012: $16,204,000,000,000….(+ 1.9 trillion
2 Fiscal year 2013: $17,177,000,000,000….(+ .973 trillion
3 Fiscal year 2014: $17,955,000,000,000….(+ .778 trillion
4 Fiscal year 2015: $18,704,000,000,000….(+ .749 trillion
5 Fiscal year 2016: $19,513,000,000,000….(+ .809 trillion
6 Fiscal year 2017: $20,257,000,000,000….(+ .744 trillion
7 Fiscal year 2018: $20,981,000,000,000….(+. 724 trillion
8 Fiscal year 2019: $21,711,000,000,000….(+ .730 trillion
9 Fiscal year 2020: $22,416,000,000,000….(+ .705 trillion
10 Fiscal year 2021: $23,105,000,000,000…(+ .689 trillion

In all fairness to Rep Ryan, I understand why this is in here. He is doing this so as to inoculate himself and the GOP from hysterical criticism for not compromising towards the Democrat’s overt statist position. However, and this is the troubling part for me, Mr. Ryan also caved in on the whole bailout bash not all that long ago.

This has become his unfortunate trademark now, he talks a fiscally conservative, free market, line (, even pushing copies of Atlas Shrugged to his staff) , but clearly isn’t crafting legislation in concert with either. Compromise toward what he ought to (and I suspect he does) understand is evil is not leadership, it is foolish.

Our direct, demonstrable, personal interests, apart from any collectivist notions of “national interest,” are not advanced by going down this path. In fact, it is a clear and present detriment towards the attainment of long run, rational individual values. Moreover, this is all enforced at the proverbial point of a gun; and that is evil.

Advertisements
Posted in Uncategorized. Comments Off on Ryan’s Plan Pushes Debt Limit UP ~ 9 Trillion
%d bloggers like this: