Jonathan Chait and Greg Sargent both weigh in on the absurd Republican claim that they?ll produce a plan to balance the budget in 10 years, without a penny in additional revenue. Chait points out that the Ryan plan, even if you accepted all its magic asterisks, still didn?t produce a balanced budget until 2040. Sargent, armed with numbers from the Center on Budget and Policy Priorities, points out that if the GOP were to honor its promises not to cut military spending or benefits for those over 55, you?d have to impose savage cuts on everything else.
What all this comes down to is a collision between GOP deficit scare tactics and the reality of what the federal government does. The government really is an insurance company with an army; if you demand rapid deficit reduction without raising taxes or cutting military spending, you have to cut deeply into programs that the public values.
Republicans have, for the most part, managed until recently to skate over this reality, simultaneously calling for lower spending in the abstract while posing as the defenders of seniors against Obama?s Medicare cuts.They?ve been aided in this by pundits and reporters unwilling to seem ?unbalanced? by pointing out the realities. But they?ve now run out of room, and are facing a crisis of arithmetic.
Source: http://krugman.blogs.nytimes.com/2013/01/24/an-insurance-company-with-an-army-3/
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