By Warner Todd Huston ——Bio and Archives--August 11, 2012
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Medicare right now has a $38 trillion dollar unfunded liability, that’s 38 trillion in empty promises to my parent’s generation, our generation, and our kid’s generation. Medicaid is growing at 21% this year. It’s suffocating states’ budgets, it’s adding trillions in obligations that we have no means to pay for. …Since the Congressional Budget Office can’t score your bill because it doesn’t have sufficient detail, but it tracks very similar to the Senate bill, I want to unpack the Senate score a little bit. And if you take a look at these CBO analysis, analysis from your chief actuary, I think it’s very revealing. This bill does not control costs. This bill does not reduce deficits. Instead this bill adds a new health care entitlement at a time when we have no idea how to pay for the entitlements we already have …The Senate Budget Committee chairman said that this is a Ponzi scheme that would make Bernie Madoff proud. …. when you strip out the double counting and what I would call these gimmicks, the full ten-year cost of this bill is a 460 billion dollar deficit. The second ten-year cost of this bill has a 3.4 trillion dollar deficit. And I think probably the most cynical gimmick in this bill is something that we all probably agree on. We don’t think we should cut doctors 21% next year.. we all call this the “doc fix.” Well the doc fix according to your numbers costs 371 billion dollars. It was in the first iteration of all these bills but because it was a big price tag and it made the score look bad and made it look like a deficit that provision was taken out… but ignoring these costs does not remove them from the backs of tax payers. Hiding spending does not reduce spending.Ryan has been a major critic of Obama since the begining. Also in Feb. of 2010, for instance, he quizzed Treasury Secretary Tim Geithner asking him during a House Ways and Means Committee hearing why the Obama administration would propose a budget that they admit is not credible or sustainable? Rep. Ryan was also the man the GOP turned to in order to respond to Obama's 2011 state of the union speech. Ryan slammed the President for his actions saying, "Unfortunately, instead of restoring the fundamentals of economic growth, he engaged in a stimulus spending spree that not only failed to deliver on its promise to create jobs but also plunged us even deeper into debt." Ryan also criticized the President and his party just before the 2012 state of the unions speech stating that Obama had failed to provide leadership on reducing the deficit. Repeatedly Obama has targeted Paul Ryan, singled him out for attack, because Ryan so gets under the president's already thin skin and repeatedly Ryan has risen to the challenge and delivered devastating blows exposing Obama's flimsy knowledge of budgets and his fraudulent claims of “fixing" it. And throughout Ryan's criticism has been fact-based and respectful of the office of the president. This is a good pick for Romney as the President of FreedomWorks, Matt Kibbe, notes. On the morning of the announcement, Kibbe expressed the enthusiasm for the Romney ticket that picking Ryan brings.
That said, Romney made a good choice — a great choice in fact. It was a real indication to grassroots America that the Romney camp is willing to finally engage on the big issues that matter most in this election. It’s not quite enough to say that Obama has failed, we know that. Incumbent presidents should not win reelection with persistent unemployment over 8 percent and a staggering $16 trillion in debt. Clearly Obama needs to be fired. But what are you, the Republicans, actually for?Paul Ryan has already unhinged this President and his Party and has repeatedly been able to slam them in the best possible manner. Ryan fulfills the role of attack dog well and has since before Romney even picked him to be his veep candidate.
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Warner Todd Huston’s thoughtful commentary, sometimes irreverent often historically based, is featured on many websites such as Breitbart.com, among many, many others. He has also written for several history magazines, has appeared on numerous TV and radio shows.
He is also the owner and operator of Publius’ Forum.