Ryan unveils his budget. Photo: Chris Maddaloni / CQ Roll Call
Everything you need to know about House Budget Chairman Paul D. Ryan’s budget blueprint, from its prospects in the Senate to which White House proposals the Wisconsin Republican suggests keeping in place. Spoiler alert: Obamacare wouldn’t be completely discarded.
1. It’s DOA in the Senate and the White House, but you knew that.
2. Ryan’s budget eliminates the deficit in 2023 not because of large new spending cuts relative to his past budgets, but because he’s keeping hundreds of billions of dollars a year in President Barack Obama’s own budget policies in place.
3. Ryan’s claim to a balanced budget rests entirely on the 2010 health care reform law known as Obamacare. Ryan’s budget keeps the tax revenue from Obamacare, as well as its $700-billion-plus Medicare trims and other cuts. Ryan included those Medicare cuts in his previous budget blueprints, but campaigned against them when he joined Mitt Romney’s GOP presidential ticket last year.
4. Ryan’s budget also would not balance without the $600-billion-plus increase in taxes extracted by the president in the fiscal cliff deal.
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