Wednesday, August 15, 2012

Paul Ryan’s Lies

1. National Debt has raised borrowing costs. Actually interest rates are at historic lows. We have a golden opportunity to refinance our debt. Rates are so low that the government can actually make money by borrowing.

2. Spending levels are unsustainable. Spending has actually gone done. We have a deficit because of the Bush tax cuts and a depressed economy. Unemployed people can’t pay taxes.

3. We can cut debt and cut taxes. The math is a fantasy. Cutting taxes in the past has made the deficit worse.

4. Inflation is a threat. Part of our economic problem is that there is too little inflation. Modest inflation encourages spending and reduces the deficit.

5. Social Security is about to go broke. All it needs is a minor tweak and it will be fine for the foreseeable future.

6. Medicare in about to become insolvent. There are some challenges for it in the future as more people age. Again it just needs some adjustments and it will be fine. Furthermore, the ACA actually strengthen Medicare financing.

7. Medicaid spending is unsustainable. Better health care law can reduce the need for high Medicaid spending.

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