about how to accomplish those reductions, but the idea that the republicans want to end medicare as we know it, or that president obama is trying to slash and burn medicare, they re both ridiculous. i think what we have to do is recognize that medicare is underfunded based upon reasonable assumptions, $37 trillion and growing. and that we re ultimately going to have to rationalize our promises and focus on how best to control costs and how to balance compassion and cost. so let s deal with the substance and solutions rather than the spend and the mud slinging. one of the columns today by robert samuelson called the hole in ryaryan s medicare plan, say one of the big problems in the cuts in ryan budget are very severe on the domestic side but he won t deal with taxes. is that a fundamental flaw in the ryan approach? well, there are two aspects of congressman ryaryan s plan t
tonight. indeed he is hello. how different is congressman paul ryan s budget from the president s, rich? both campaigns say they offer two distinct choices and they are not kidding. significant differences on taxes, spending, and the role of government. very broad oversue shows budget committee chairman paul ryan s plan spends about $40 trillion over the next decade. takes in taxes and revenues of 37 trillion and adds more than 3 trillion to the national debt. over 10 years president obama s latest budget spends about 47 trillion, brings in 40 trillion in revenue and increases the national debt by more than 6.5 trillion. republics say that means tax increases and unsustainable government spending. democrats say the details of the ryan plan gut vital government services, shep. shepard: vice president biden got into this debate today, rich. he did. and the vice president welcomed ryan to the campaign trail by knocking the republic economic plan. what is gutsy about giving
know when they re being bsed quite frankly. medicare s underfunded 37 trillion. we subsidize 95% of people who voluntarily sign up for medicare 75% of their premium. that makes no sense cht we need to be honest with people. the american people can handle the truth. they know we need to make tough choices. look, i ve been in 49 states. about ready to go to over 20 more from september 7th through october 9th. about truth do they know the truth? again, i will side it. my favorite from last year, 70% of tea partiers against obama care, stay out of my, live free or die, 70% of its
millionaires and billionaires. let s bring in patricia powell. thank you for joining us. it was april of 2011 when the ryan budget was first introduced. a lot of things from democrats and republicans to define it. now i m going to give that job to you. what is the ryan budget plan? the ryan budget plan is essentially to try and bridge the revenue and the spending and make it much closer. he doesn t fully bridge the gap even over ten years. over next ten years the plan would be he would spend about $40 trillion. we would bring in about $37 trillion, what is really important if you compare that on to the white house plan, the spending gap is about $5.8 trillion more with the white house plan. although they would try to raise taxes. it s a tremendously different plan. it s focused on bringing our
i heard that was, when you said we re lying to people. explain that. our government is right now, according to the general accountability office making $99.4 trillion in promises to today s americans that it has no way of paying for. we re making $37 trillion in promises to people for just medicare alone that we have no way of paying for. what is happening in europe is a bunch of governments and politicians from all political parties who made all the empty promises to voters that they have no way of paying for those promises. so the point i m trying to make, bill, we need to be straight with the country about our real physical problems. tell people the honest situation and come up with solutions to make sure the empty promises are replaced with programs that provide real security that people can actually count on and we re not doing that we re sweeping it under the rug. bill: the budget numbers will blow your mind.