It is currently Fri Apr 18, 2014 2:59 am

All times are UTC - 4 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Representative Ryan Puts the Republicans on the Record
PostPosted: Tue Apr 19, 2011 3:01 pm 
Offline
Site Admin
Site Admin
User avatar

Joined: Sat May 29, 2004 11:46 pm
Posts: 14442
Location: NC
Representative Ryan Puts the Republicans on the Record


For years people have accused the Republican Party of being the servants of the rich and powerful at the expense of the broader public. In the past, they would deny this charge and claim that they just had a different view of how the economy works.

Republican House Budget Committee Chairman Paul Ryan sought to eliminate any confusion on this point. He proposed, and last week the Republican House approved, a budget bill that will transfer tens of trillions (yes, that is "trillions" with a "T") of dollars from ordinary working people to the insurance industry, the pharmaceutical industry and generic rich people from any industry. This money will come in the form of higher payments by seniors in their old age for health insurance and another round of tax breaks for the country's richest people.

The Medicare story is the bigger transfer here. Representative Ryan wants to replace the current Medicare system with a voucher system. The size of the voucher in Ryan's plan is held even with the overall rate of inflation. This means that it will not rise at anywhere near the rate of projected health care cost growth. As a result, a greater portion of the cost of health care will be shifted from the government to retirees.

However, this is the less important part of the story. The main reason that retiree health care costs will increase is that the private sector is less efficient at delivering care than the existing Medicare program. The Congressional Budget Office (CBO) projects that, under the Ryan plan, the increase in the cost of buying Medicare equivalent policies would be more than $30 trillion over Medicare's planning horizon.

This additional waste comes to almost $100,000 for every man, woman, and child in the country. It is approximately equal to six times the size of the projected Social Security shortfall. This waste is a direct transfer from retirees to the insurance industry and the health care industry.

_________________
Image

"Behind every great fortune lies a great crime."
Honore de Balzac

"Democrats work to help people who need help.
That other party, they work for people who don't need help.
That's all there is to it."

~Harry S. Truman


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 4 hours [ DST ]


Who is online

Users browsing this forum: Majestic-12 [Bot] and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
cron
Blue Moon by Trent © 2007
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group