Romney – Ryan Budget and the Neediest


Romney-Ryan Budget and the Neediest

It is a myth that the Romney-Ryan budget ignores the poor and neediest. It is most essential to protect the neediest.  The Romney-Ryan budget saves core entitlements long term especially for most needy.  Our economic status mandates such a budget.  Our total debt is now $16 trillion at 105% of GDP, growing 8% per year.  What factors are causing unsustainable debt?

One factor is that many are receiving government benefits that do not really need them.  100 million Americans are now receiving some federal welfare not counting Social Security or Medicare.  Disability benefits are now provided to 11 million.  In 1967 the ratio of able bodied workers to disabled was 41 to 1. Today it is 16 to 1.  This is impossible to pay much longer.  This is fraud and restricts resources for the truly needy. What can we do?

US must reduce government spending in  multiple areas including unnecessary welfare, reform entitlements and tax policy, repeal Dodd-Frank, cut defense, and get out of wars.  A quick step to grow the economy is to allow more natural gas and oil drilling.  This will help in job creation and reduce our trade deficit. Also vote for Mitt Romney who will allow a strong private economy to generate new prosperity for all.  Barack Obama has been implementing a traditional European social welfare policy.  At the May G20 Summit he encouraged Europe to further increase debt spending.  He was rebuffed.  Europeans are finally learning the hard way that such policies lead to substantial decreases in living standards, and even fierce riots.   Choose wisely November 6.

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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2 Responses to Romney – Ryan Budget and the Neediest

    • economics501 says:

      the response from ChristianLiberal (CL) was amusing and civil so I post here. a single cartoon can make few or more points. I comment on 2 in the CL cartoon:
      (1) Leftist bias against corporate profits is consistent. The Left does not appreciate that profits are necessary in order to create jobs that self sustain themselves. Most private sector jobs self sustain themselves and create ancillary jobs. Many public sector jobs just enlarge our debt
      (2) Ryan budget destroying entitlements. No – do nothing and we will have no entitlements. The US economy is perilously close to a US dollar collapse. when that happens the poor will be hurt the most – entitlements may be gone. Go to my home page and click on the Aftershock Economy tag for more details how close the US economy is to collapse. The Ryan budget is an attempt to reform entitlements in order to save them long term.

      Here is a better cartoon that points out 2 of many lies BO has made …

      http://www.investors.com/editorial-cartoons/michael-ramirez/630081

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