Ezra Klein summarizes.
Besides the weird assumption that we can get to 2.8% unemployment by 2015 from the current 8.8%, the idea that health care costs will rise at only 1% of GDP and so the government will only give Medicare recipients annual vouchers for that amount is idiotic. Health care inflation has been running at roughly 7% for the past several years. Does he seriously believe that medical care costs will magically go down after years of going up? (See The Economist for a more thorough knockdown of that idea.)
There's tons of analysis about this proposal in both the blogosphere and the mainstream media. Read it and then ask yourself whether Ryan's plan makes a lick of budgetary sense. I say no.
Update: The Congressional Budget Office agrees with me: debt would go up, not down as Ryan contends, and seniors would have to pay more for Medicare than they currently do.
Posted by Linkmeister at April 5, 2011 12:04 PM | TrackBackIf they could get coverage at all, since he plans to eliminate the single payer arrangement. Ryan hasn't a single clue.
Posted by: hedera at April 5, 2011 01:51 PMWhether he's got a clue or not, he's pure ideologue in his approach. Lower taxes for the rich and do dynamic scoring which presumes that lower rates raise revenue, etc. The fact that that's been discredited since 1981 makes him no never mind.
Posted by: Linkmeister at April 5, 2011 02:44 PM