5 Reasons The Romney-Ryan Economic Plan Would Be A Disaster

Robert Reich breaks down the Romney-Ryan economic plan into 5 measures that all spell disaster for America.

Robert Reich breaks down the Romney-Ryan economic plan into 5 measures that all spell disaster for America.

1. More unemployment through austerity measures.

2. Taking from the poor to give to the rich. Higher federal taxes on lower income taxpayers, slashing medicaid, food stamps, and children's health care in order to give up to a $500k tax cut to millionaires and billionaires.

3. Turns Medicare into vouchers that won't keep up with the rising cost of health care and shifting the burden onto seniors, ending their guaranteed health care, and leaving them at the mercy of private insurers. By contrast, Obama's Affordable Care Act saves money on Medicare by reducing payments to providers such as hospitals and drug companies.

4. Add money to defense spending. The plan would add money to defense spending while cutting spending on education, infrastructure, and basic research and development.

5. Debt: The Romney-Ryan budget doesn't even reduce the federal budget deficit. While adding to military spending, giving tax cuts to the rich, and stifling economic growth by cutting spending too early, the plan would push public debt to over 175% by 2050.

No wonder Mitt Romney doesn't want to talk about his budget until after the election!

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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