we are not down in the weeds. the vice-president said the republicans want to gut medicare, by cutting spending. if you take a look at the republican house budget plan, which is the cheapskate of all budget plans out there, today, we are spending $503 billion on medicare. it calls for a spending of $855 billion on medicare, 10 years from now. that s 3% less than president obama proposes. so if spending 3% less is gutting medicare, i just justin acri don t get it. the president himself refuses to engage on the substance. you may not know this your viewers may not know is a statutory responsibility for the president of the united states to present a plan, if the actuaries say, over the next phene 15 years, medicare is going to go belly up, if it is going to fall out of fiscal balance, the president is obligated within 15 days after we release our annual report and if we say this, he giobligated
good morning martha. how are you? martha: i m fine, thanks. how do you think the budget debate is shaping up and the challenge paul ryan has to overcome people s fears about what they re being told he is all about? i thought that was a great response from governor romney yesterday. short, pit think, direct the and flipped the issue back on the president in ways ordinary people can understand. i have the whiteboard, martha. medicare, this is how he is supposed to be extreme? today, this year the budget will spend $503 billion on medicare. under the ryan plan, notion alley endorsed by governor romney, in 10 years we ll be spending 855 dal billion on medicare. that is a 70% increase. that is just 3% less, 3% less than president obama proposes to spend. how can that be extreme? how can that be ending medicare as we know it? how can that be devastating seniors? what it does, the two principle differences
been bailed out twice by both the european union and imf to a total of $303 billion. their debt right now, 153% of the country s gdp. compare that to our own debt ratio which is 100% to gdp. martha: fears we may be headed in the same direction. that is one of the biggest fierce. the situation overseas is not lost on republican presidential mitt romney ching. he said in an interview the same thing could happen here if he is not elected. if i not get reelected or elected rather, we would instead in my view become more and more like europe, with higher deficits. with debt that could put us in a greece or spain, or italy-like circumstance. chronic high unemployment, low wage growth and a military gets slowly but surely hollowed out so it can pay for the various program the government has
20 percent . a huge chunk of administrative costs and sort of in everyone s interest to make the pile large yer larger and meaning more people will sign up and buy tickets. do you regulate it and say it is legal. no. you don t. are they good or bad for the individuals and the economy. and we ll scratch the hype. and at the risk of sounding like fred mertwherein i love lucy. 176 million odds of sharing odd and joining the one percent. states are using to close the budget deficit over 103 billion. and this 20 percent go to wipe out the deficits and not education. it goes to infrastructure and government. are they good or bad. it is reverse robin.
prosperity, a blueprint for american renewal. ryan could cut $5 trillion, relative to the president s budget proposal and $3 trillion reduced from the deficit over ten years. all while forking over $554 billion. that is the number of dollars he would allocate to defense spending in 2013, nearly $30 billion more than president obama s budget proposes, and over the next decade, he would spend on defense, $203 billion, more than the pentagon has asked for. ryan would like our country to be a place where 25% would be the corporate tax rate. down from the current 35%. and 2 is the number of tax brackets for all us private citizens, down from the current 6 brashgts. 25 and 10, that s what tax pa r payers would pay in percentages under the new man. where do the savings come from?