James Pethokoukis performs an apples-to-apples comparison of the competing deficit reduction plans from the Democrats (President Obama’s) and the Republicans (Paul Ryan’s). His results are edifying:
the Obama Framework would only save $3 trillion vs. $6.9 trillion for the Ryan Path over ten years. And nearly 2/3 of Obama’s savings comes from higher taxes (net interest).
Get it? Obama proposes to achieve less than half of what the Ryan plan by increasing taxes.
The problem with the Democrat plan, as we all know, is that giving politicians more money in the hope that they will apply it to the deficit is tantamount to INCREASING spending. The only way to reduce the deficit is to reduce spending.
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