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CBO Analyzes Ryan Budget Proposal: 2050 Debt/GDP At 10% Versus 344% In Revised Existing Budget... But How?

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Wed, 04/06/2011 - 00:01 | 1139707 knukles
knukles's picture

Go long popcorn.

Wed, 04/06/2011 - 05:28 | 1140012 StychoKiller
StychoKiller's picture

No changes to Medicare until 2022?  Whew, for a moment there, I thought they were serious!

Wed, 04/06/2011 - 07:30 | 1140083 Kiwi Pete
Kiwi Pete's picture

Scrap your military, CIA & NSA. Presto balanceo!

Wed, 04/06/2011 - 00:00 | 1139710 Dr. Porkchop
Dr. Porkchop's picture

Well my grandfather used to say;

If you can't dazzle them with brilliance, baffle them with bullshit.

Wed, 04/06/2011 - 04:33 | 1139990 Sudden Debt
Sudden Debt's picture

ABRAHAM LINCOLN WAS YOUR GRANDFATHER?!?

 

 

Wed, 04/06/2011 - 00:05 | 1139717 A Nanny Moose
A Nanny Moose's picture

Sovereign default.....Bitchez!

Wed, 04/06/2011 - 00:27 | 1139770 traderjoe
traderjoe's picture

A default of the illegitimate debt is the only solution for people. The TPTB created the Fed and took control of the printing of 'our' money. They created the paradigm of borrowing. Why does a sovereign country borrow its own money?

Austerity is the final chapter of the wealth transfer to the TPTB. It will not 'heal' the economy. Ryan is carrying the water for the bondholders.

Default...

Wed, 04/06/2011 - 01:34 | 1139867 jmc8888
jmc8888's picture

Exactly. Glass-Steagall. Too bad we don't have two congressmen named Fuch and Fraud.

Wed, 04/06/2011 - 07:22 | 1140064 TaxSlave
TaxSlave's picture

Repudiate!

I didn't borrow it.  I'm not paying it back.  Bondholders who expected to get rich by putting me in bondage can go fuck themselves.

Wed, 04/06/2011 - 00:08 | 1139725 glenlloyd
glenlloyd's picture

Well, we knew it was coming, but it really sounds like more complexity.

Personally, I'm not fond of block grants. I've seen the city I live in use block grants for doing untold damage in neighborhoods and converting the medicaid system to block grants could be a windfall if used improperly. Who will monitor the program to verify compliance or appropriate use? I see the potential for more abuse here.

I also see a problem using the CPI-U, I would prefer an unbiased 3rd party generated inflation rate, otherwise we'll have an even more worthless an indicator than we have now.

Wed, 04/06/2011 - 00:20 | 1139750 Yen Cross
Yen Cross's picture

Hey Elmondorf. Appreciate the input. Maybe one of your interns can crack out some decimals on that 2050 26Trillion Figure. 1,000,000   1,000,000,000  1,000,000,000,000x26! Quadrillion 1,000,000,000,000,000 .26 Bitch!

Wed, 04/06/2011 - 00:20 | 1139751 baby_BLYTHE
baby_BLYTHE's picture

Ryan’s description of the plan is disappointing after all the buildup. If he can’t give a summary with numbers of where he and Heritage calculate $6.2 trillion savings, then he is a poor communicator. The rest is just words.

I don’t see $6.2 trillion in this description, so I’m eager to see whatever support exists. I hope he has believable support. How can a Congressman devote his life to this program and dismiss social security proposals by just saying: “This budget forces policy makers to work together to enact common-sense reforms...”?

Wed, 04/06/2011 - 00:24 | 1139755 Yen Cross
Yen Cross's picture

Total revenue column 1 page one. 2050. Why do the old farts use fractions, and hide UST BP yield changes?

Wed, 04/06/2011 - 00:22 | 1139758 web bot
web bot's picture

They're talking 2050? The world as we know it won't exist in 2050...

Wed, 04/06/2011 - 00:23 | 1139760 Yen Cross
Yen Cross's picture

I'll be dead for sure. My family won't though!

Wed, 04/06/2011 - 00:27 | 1139766 Shock and Aweful
Shock and Aweful's picture

Paul Ryan is a complete lying sack of shit....

Anyone who actually believes that this budget he has proposed is even remotely accurate has to be the dumbest motherfucker alive.

You wanna tell me how ANY government agency...or anyone for that matter can forcast 40 years into the future?  Are they assuming we will only be involved in 4 or 5 medium sized wars in that time period?  Or maybe they assuming that there will be a massive pandemic that will kill off half the population or something?  That would save a bunch of money.  This whole 40 year budget effect bullshit is a complete joke and a waste of time to even entertain. 

 

If it is not already obvious...Ryan and his Ilk are nothing buy apologists and hatchet men for the large corporations and banking sector...They are so zealous in their disdain for governement...I am surprised they even wanted to run for office  (doesn't that strike any of you as funny....since Reagan...the GOP has been claiming how much they hate government...and how government is evil.  When we send people like that to Washington...people who think government is a failure...is there any wonder why we get a government that is anything but? 

 

I am being serious too...there was a time when the position of representative and senator (and president for that matter  - you fuck up Obungo) actually made the person in that position give a shit about their constituents....seems today that everything, on both sides is about some abstract policy or ideology and has NOTHING to do with reality or the day to day lives of how people live.

I have a feeling that the next two years are going to be sillier than ever in politics...(don't ask me why I think that...hahaha)

My only question...when in the fuck are the American people going to start DEMANDING something a little more authentic and effective?  We are FULLY asleep at the wheel here...and have no one but ourselves to blame for our nation's current state of affairs.  SHAMEFUL!

Wed, 04/06/2011 - 00:32 | 1139777 baby_BLYTHE
baby_BLYTHE's picture

+++

You nailed it!

As to your final point, Don't start the Revolution without me. I am ready and waiting to take to the streets to Restore America (not in the vain of the fascist Glenn Beck). In the vain of Jeffesron, Hamilton, Franklin, Paine and Washington!

Wed, 04/06/2011 - 00:54 | 1139809 Dr. Porkchop
Dr. Porkchop's picture

The founding fathers were products of the enlightenment who respected philosophy and laws and principles. Who can hold a candle to them now? I wonder if society can muster anyone to fill their shoes.

Wed, 04/06/2011 - 00:58 | 1139818 Yen Cross
Yen Cross's picture

Infinity. It's all starting.

Wed, 04/06/2011 - 06:19 | 1140036 jeff montanye
jeff montanye's picture

hey baby, hope your efforts are not in vain.  

Wed, 04/06/2011 - 06:21 | 1140037 jeff montanye
jeff montanye's picture

hey baby, hope your efforts are not in vain.  

Wed, 04/06/2011 - 11:29 | 1141090 PhotonJohn
PhotonJohn's picture

Amen brother! The founding fathers saw political science as a necessary evil. These people know live, breathe and get advanced degrees in it. Anyone who would strive to be a career politician is not someone you want in DC.

Wed, 04/06/2011 - 01:02 | 1139822 Yen Cross
Yen Cross's picture

Beck is nutty! I have to admit. I'm a different kind of concervative.

Wed, 04/06/2011 - 16:32 | 1142609 baby_BLYTHE
baby_BLYTHE's picture

6 junks, interesting...

What is the big secret about the Founding Fathers? am I missing something?

SRS

Wed, 04/06/2011 - 02:42 | 1139926 Global Hunter
Global Hunter's picture

honest question here, what has Paul Ryan done wrong?  Not many others are talking about spending cuts.

Wed, 04/06/2011 - 04:21 | 1139986 Silva Plata
Silva Plata's picture

Please look at Paul Ryan's donors, it's all insurance and banking. That's who he represents. Don't think for one second he cares about you or America or the national debt. All he cares about is pleasing his Wall Street masters. Plus, he shouldn't be trusted because of that hair.

Wed, 04/06/2011 - 07:41 | 1140096 tarsubil
tarsubil's picture

Rand's budget gets ignored while Ryan's gets praised in the NYT? Something isn't right here folks. Even ponytailed hippies can see it.

Wed, 04/06/2011 - 10:21 | 1140555 MachoMan
MachoMan's picture

Well, the answer to your last question is fairly complex...  Presently, we do have a politically active america.  However, we're only active for a continuation of or additional entitlements...  the counter-argument has yet to gain any traction.  As a result, we get only half-hearted (at best) budget and austerity proposals.

The problem is at what point do 80%+ americans who rely upon governmental aid refuse to ask for more?  I postulate, never...  The only possible way this could happen is when the government is no longer...  which is a difficult endeavor when the vast majority of the population demands entitlements rather than an equal playing field, clawbacks of ill obtained gains, and the possibility (not god given right) to work.  The american people, like all others, will choose the well worn path over the one less traveled.  In other words, even if the government collapses, the populace will still seek to rekindle the entitlement system.

In short, the populace at large will never seek a more bleak (for the risk averse) future.  If it is to occur, it will have to be imposed...  [see generally, the level of general support for the american revolution].

Wed, 04/06/2011 - 00:31 | 1139776 bob_dabolina
bob_dabolina's picture

THE FED DOESN'T WANT TO BE POLITICIZED?

Doesn't the Fed have a dual mandate to have stable prices and maximum employment?

How much more politicized can you get?

Maybe a tri-mandate:

-Maximum employment

-Stable prices

- and abortion.

You gotta' be kidding me.

I'm going to take a Ben Bernanke brb.

Wed, 04/06/2011 - 00:58 | 1139813 Yen Cross
Yen Cross's picture

The Fed is Done. BD. It's done.

Wed, 04/06/2011 - 00:34 | 1139782 savagegoose
savagegoose's picture

2050! how many more wars between now and then, lol kick the can to a date noone alive now will be alive to see.

and here is hoping another katrina like event dont happen in next 40 ish years.  or your numbers could; read WILL, be all fucked up.

Wed, 04/06/2011 - 01:03 | 1139826 Yen Cross
Yen Cross's picture

2030 comes to mind. If we make it through that it should be pretty darn good. I'm looking forward to making a lot of new friends.

Wed, 04/06/2011 - 00:35 | 1139783 nah
nah's picture

abort the jobless babys... but tax their parents first

Wed, 04/06/2011 - 01:13 | 1139840 Yen Cross
Yen Cross's picture

Got the sarc/ Never abandon  babies! They are the future. Ass slap em and teach em how to Race Motocross, Own expensive cars, Houses, travel, Double breasted suits, Fly Jets, Scuba dive, And chew heads off bats.

Wed, 04/06/2011 - 09:40 | 1140433 InconvenientCou...
InconvenientCounterParty's picture

protect life at all cost while it's helpless in the womb. Of course, once in pops out, don't use my tax money to keep it healthy or educate it or feed it.

Wed, 04/06/2011 - 00:38 | 1139786 Misean
Misean's picture

Shit man, if they put the spending cuts in year 39, the budget balances. Man, we are ruled by geniuses.

Wed, 04/06/2011 - 00:46 | 1139796 RockyRacoon
RockyRacoon's picture

Funny how Nomi Prinz was pilloried for saying about the same thing in her article.

http://www.zerohedge.com/article/guest-post-paul-ryans-budget-arithmetic...

Consistency here at the ole ZH seems to be lacking...

At least this article had more purty charts and pitchurs and stuff.

Wed, 04/06/2011 - 01:02 | 1139810 Eureka Springs
Eureka Springs's picture

Double down on the profiteer for health billing model, instead of eliminating 30 percent of costs for an entirely needless corporate insurance model, which is not about care at all. Also refusing to negotiate pharma down to prices small european countries manage to do so well. Our drug using pool of 300 million ought to have the lowest bulk drug prices in the world, not highest.

This is all to familiar pure evil ponzi... and I am sure there will be bipartisan immoral expensivesupport for doing the wrong thing again.

Oh and cut all defense spending by 85 percent, yesterday!

I hate fascists, no matter what they call themselves libertarian, teabagger, republican, democrat, conservative, centrist or liberal. A mandate forcing people to buy corporate insurance, and paying the non-negotiated highest drug prices in the world is just that, fascism.

None of this is new or humane in the least, thus shouldn't be treated as such... it's the same old shit.

Wed, 04/06/2011 - 00:58 | 1139812 Korg
Korg's picture

I can just imagine the German Kaiser in 1900 saying the same thing this asswipe shill is saying.

How'd that work out????

Wed, 04/06/2011 - 01:08 | 1139834 Yen Cross
Yen Cross's picture

I can sit down a dissect any chart. The best make me question them. I always respect them. We respect each other. I did this stupid IQ thing hung over in Cairns Qld. I still hill hit 136 after hanging with the Quantas crew. I'm guessing a trapaziod could have been found after Some Calcium Carbonate on Lipids?

Wed, 04/06/2011 - 01:21 | 1139848 Id fight Gandhi
Id fight Gandhi's picture

Just shut the whole damn thing down. Fuck it.

Nobody wants to take the medicine or cut shit.

Fiscal and monetary policies need to worked on together. Otherwise one fucks the other.

Wed, 04/06/2011 - 01:26 | 1139850 baby_BLYTHE
baby_BLYTHE's picture

I went to a bar near Arizona State University with my friends over Spring Break.

Get ready for this... you cannot make this sh*t up (picture I took with my Andriod)

http://i51.tinypic.com/343mbrn.jpg

Get ready, folks!

We are going into an inflationary Depression! Tyler was right. The dollar is in BIG TROUBLE!

Thankfully I own Gold and Silver, I advise you all take precaution. This shit is f***ing real! It is unbelivable.

Hard times are coming. For everyone!

Wed, 04/06/2011 - 02:17 | 1139905 Yen Cross
Yen Cross's picture

It's right. @ 19 I made a promise to GOD. It's real!

Wed, 04/06/2011 - 02:23 | 1139909 baby_BLYTHE
baby_BLYTHE's picture

WTF are you talking about?

What is Hyper-Inflation? Dollar bills in wheelbarrows, 150 dollar gallon of milk, defaced graffiti currency dangling from the ceiling?

People want to see the end result of massive debt monetization, bailouts and deficits as far as the eye can see? WELL I provided that in the link above^^^ 

Wed, 04/06/2011 - 02:29 | 1139916 Yen Cross
Yen Cross's picture

Hate me Blythe!

Wed, 04/06/2011 - 09:47 | 1140453 InconvenientCou...
InconvenientCounterParty's picture

The one dollar bill could be a collectors item if we don't turn shit around. Then again so could spring break. I would really hate to lose that.

Wed, 04/06/2011 - 02:26 | 1139912 Yen Cross
Yen Cross's picture

Relax Blythe. I'm thinking a short like the old days on euro yen. It's not God. It's been around for awhile.

Wed, 04/06/2011 - 01:23 | 1139851 honestann
honestann's picture

Unless they refuse to raise the debt ceiling, any and every plan is just short-term feel-good talking-point propaganda designed to garner brownie points with TeaParty types.

What we need for a first step is a 2/3 reduction in federal spending, then subsequent 2/3 reductions until the federal government is gone.  The experiment in "central government" is a total failure, and must be recognized as such.

Wed, 04/06/2011 - 01:34 | 1139870 Akrunner907
Akrunner907's picture

Maybe Allan Grayson's prophetic words about the Repub health care should be expanded to the entire federal budget plans, "Die quickly!"

Wed, 04/06/2011 - 01:57 | 1139887 ATG
ATG's picture

Since when did CBO get it right?

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