The Obama pitch: Don’t ask us for a plan, just reject the GOP’s plan
With Mitt Romney’s selection of Paul Ryan as his running mate, the entire presidential campaign will — or should — boil down to this exchange between Ryan and Treasury Secretary Timothy Geithner during a House hearing on President Obama’s fiscal 2013 budget back in February (text of transcript courtesy of Real Clear Politics):
Ryan: Here’s the point. Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability. Our government is making promises to Americans that it has no way of accounting for them. And so you’re saying yeah, we’re stabilizing it but we’re not fixing it in the long run. That means we’re just going to keep lying to people. We’re going to keep all these empty promises going.
And so what we’re saying is, in order to avert a debt crisis — you’re the Treasury Secretary — if we can’t make good on our bonds in the future, who is going to invest in our country? We do not want to have a debt crisis. And so it comes down to confidence and trajectory. Do we have confidence that we’re getting our fiscal situation under control, that we’re preventing the debt from getting at these catastrophic levels?
If we go back to the preceding chart, number 13, you’re showing that you have no plan to get this debt under control. You’re saying we’ll stabilize it but then it’s just going to shoot back up. So my argument is, that’s Europe. That is bringing us toward a European debt crisis because we’re showing the world, the credit market’s future seniors — people who are organizing their lives around the promises that are being made to them today — that we don’t have a plan to make good on this.
Geithner: Mr. Chairman, as I said, maybe we’re not disagreeing in a sense. I made it absolutely clear that what our budget does is get our deficit down to a sustainable path over the budget window.
Ryan: And then they take back off.
Geithner: Why do they take off again? Why do they do that?
Ryan: Because we have 10,000 people retiring everyday and health-care costs going up.
Geithner: That’s right. We have millions of Americans retiring everyday, and that will drive substantial further rise in the growth of health-care costs. We’re not coming before you to say we have a definitive solution to our long-term problem. What we do know is we don’t like yours.
Read that last part again: “We’re not coming before you to day we have a definitive solution to our long-term problem. What we do know is we don’t like yours.”
In other words, we prefer Nero-esque fiddling to your plan.
In other words, we’d rather stick to promises that can’t be kept than level with the American people and treat them like adults.
When Geithner admits the Obama administration has no “definitive solution,” what he really means is the Obama administration has no solution, no proposal, no plan, at least nothing it wants to talk about publicly, for keeping our fiscal condition from spiraling completely out of control. That’s no exaggeration: Check out the chart to which Ryan referred, which comes from the Obama administration’s own FY13 budget:
Our future under Barack Obama
See, the most Barack Obama is willing to do — in his fourth, count ‘em, fourth budget proposal — is to “stabilize” our debt at the highest level, as a share of the economy, since the end of World War II. In fact, according to his budget, that’s the most Americans can expect for the two presidential terms that would follow his hypothetical second term.
After that, he ostensibly would be willing to let us zoom into the abyss on auto-pilot than propose any sort of meaningful reform to the programs that put us on this path. That’s chiefly Medicare — although, as an Associated Press report notes, we face a shortfall of Social Security funding totaling $134 trillion during the next 75 years, i.e. the period of time that covers the retirement of “just about everyone working today.” To shore that up, AP reports, the federal government would need to “invest $8.6 trillion today, and have it pay returns of 2.9 percent above inflation for the next 75 years, to produce enough money to cover the shortfall.”
We will soon find out if the Obama team has prepared substantive proposals for these issues or was simply betting/hoping Romney wouldn’t have the guts to thrust Ryan — and thus the entitlements question — into this campaign.
– By Kyle Wingfield
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489 comments Add your comment
SlickRick
August 13th, 2012
5:22 pm
Tiberius – Wrong. Wrong. Wrong. Wrong. Wrong. Wrong. Wrong. Wrong. Wrong. Wrong.
And wrong.
Tiberius - pulling the tail of the left AND right
August 13th, 2012
5:25 pm
No one who claims to have read about both sides can realistically ask the question about where is the GOP jobs plan..
Unless they’re lying to us.
getalife
August 13th, 2012
5:25 pm
“No deficit reduction. No budget. No recovery. No plan. No truth. No transparency. No solutions.”
Nothing but lies.
Americans are sick of your lies.
Write the truth or keep your lies to yourself con.
Tiberius - pulling the tail of the left AND right
August 13th, 2012
5:27 pm
Once again Slick Rick, provide specificity in your reply to me. I cannot take you seriously if you don’t.
getalife
August 13th, 2012
5:28 pm
This blog should join the reality based community.
The con knee jerk reaction to lie and attack our President is ridiculous.
Grow up and join the real world.
Beverly Fraud
August 13th, 2012
5:32 pm
Well as long as Ryan starts off his speeches with “Under my plan, Romney would pay less than 1%. And here’s why this is a good plan:” I’m open to hearing anything he has to say.
Are you ok with that opening line Kyle?
JDW
August 13th, 2012
5:35 pm
@Tiberius…”Yeah, let’s return to the artificial dot com bubble days”
Wouldn’t that have been a relief compared to the TAX CUTS WAAAAHOOOO, Osama Who?, lets fight two wars, financial market meltdown Daze of Duhbya?
DannyX
August 13th, 2012
5:37 pm
From USA Today regarding their USA Today/Gallup poll measuring the initial reaction to Romney’s VP candidate Paul Ryan:
“Only Dan Quayle in a 1988 Harris Poll of likely voters was viewed less positively than Ryan, with 52% rating Quayle as a “fair” or “poor” vice presidential choice. The Ryan poll includes all adults, not just registered voters.”
Even Sarah Palin did better than Ryan. Yikes!
No home run for Romney. Foul out to the catcher.
getalife
August 13th, 2012
5:38 pm
The American people want jobs not cuts to their safety net or higher taxes willie robme promises.
willie robme is out of touch with the majority of the American people. ryan is a joke like palin.
The majority rules and the dems will win.
gm
August 13th, 2012
5:38 pm
Gee Kyle how many times during Bush 8 years did you ask him for his plan? oh I forgot Bush had a plan 2 unfunded wars, sending billions to build up Iraq.
You have to be a complete idiot to vote for these to millionaires, Paul wants to do away with SSI and let the private sector run it, but he used it to put his self thru college, another hypocrite, white conservatives middle class can not be this stupid.
The rich bratts will get the idiots of the tea party, rich white males, Obama will get the rest of the voters ””””
td
August 13th, 2012
5:39 pm
“Too many folks still don’t have a sense that tomorrow will be better than today. And so, the question in this election is which way do we go?” President Obama asked at a fundraiser in Chicago on Sunday.
“Do we go forward towards a new vision of an America in which prosperity is shared?” Obama asked.
Prosperity should be shared by the government taking money from the people that worked hard and redistributing it to the people not responsible. Pure freaking socialism.
morerightthanleft
August 13th, 2012
5:40 pm
does anyone realy know the truth anymore…both sides have clouded each other. I dont believe any of them..the current POTUS has lost my trust..he wont becoming back….just like out Tsplost…we dont trust anyone and the president and his media have done the job to divide and conquoer…it wont work…i think if the left will just listen..there can be a common sense approach..the right needs to quit yelling…and listen as well…how old are you people… you blast each other with no proof of any of your points….they all lie….
Up Up and Away
August 13th, 2012
5:42 pm
td
Did you also hit the sport and food blogs?
You might want to hit them all with your infamous Dicky Morris info.
mike
August 13th, 2012
5:43 pm
I think it’s pretty safe to say that no one on this blog has to worry about the $2,000/year tax increase that Romney/Ryan propose. I guess you can’t really blame them for supporting this kind of agenda at the expense of the rest of America.
Dusty
August 13th, 2012
5:43 pm
Goodness, the DNC is really spending money here today. Never saw so many passing on info right off today’s DNC info.sheet.. Some of ‘em been here eight hours so they’ll be leaving soon.
But that “fried twinkies” line is really good. It is just sooo liberal-like….
And should I mention Mr. Remedial aka Logical Song who loves to tell everybody how to make a reeeelly good post? Uh huh
Give that fellow a fried twinkie! He’ s hungry!!
getalife
August 13th, 2012
5:43 pm
Peace and prosperity td.
Yes, now you are talking about the real world.
Jobs not cuts to our safety or raising our taxes so the wealthy can keep theirs.
td
August 13th, 2012
5:44 pm
gm
August 13th, 2012
5:38 pm
“You have to be a complete idiot to vote for these to millionaires, Paul wants to do away with SSI and let the private sector run it,”
1: Ryan received RSDI not SSI. RSDI are survivors benefits for children that whose parent paid into the system for a minimum of 10 years. SSI is for people that do not work and have not paid into the system.
Lil' Barry Bailout - Vote American
August 13th, 2012
5:45 pm
Maybe when President Romney actually proposes raising taxes on someone people you’ll have some credibility, getalife.
getalife
August 13th, 2012
5:45 pm
safety net, Oops.
.
Logical Song
August 13th, 2012
5:45 pm
Dusty… again
Spouting talking point and crying about others and their talking points.
Hope you didn’t drown in the kiddie pool.
td
August 13th, 2012
5:45 pm
Up Up and Away
August 13th, 2012
5:42 pm
td
Did you also hit the sport and food blogs?
You might want to hit them all with your infamous Dicky Morris info.
I see you hit all the blogs as well. The difference is I bet you have changed screen names plenty of times.
Logical Song
August 13th, 2012
5:46 pm
Dusty
kiss up to Kyle and move along
You know how you do it
“They call Romney and you namess, Kyle”
hahahahahahaha
getalife
August 13th, 2012
5:47 pm
He did lil bar, 2000 per year times four.
That is what you will vote for but I have no doubt he could promise to steal everything you own and you cons will vote for that.
JDW
August 13th, 2012
5:47 pm
You gotta love this from Washington Post political reporter Dana Milbank,
“It can only do us good as a nation to have as a role model such a fine physical specimen in high office. Hopefully, Ryan will inspire more Americans to get healthy. That’s important, because if Ryan succeeds in ending Medicare, they won’t be able to afford getting sick.”
Thankfully I think he will be able to get back on his routine somewhere around mid November.
td
August 13th, 2012
5:47 pm
getalife
August 13th, 2012
5:43 pm
How does the government ensure “shared prosperity”?
Lil' Barry Bailout - Vote American
August 13th, 2012
5:48 pm
You have to be a complete idiot to vote for these to millionaires
—————–
You have to be a complete idiot to misspell three-letter words.
And a hypocrite to ignore the fact that Obozo and Biden are both millionaires.
SlickRick
August 13th, 2012
5:48 pm
Tiberius – I cannot take you seriously. Period.
getalife
August 13th, 2012
5:49 pm
td,
Jobs silly.
Ask people want they want.
Jobs.
Lil' Barry Bailout - Vote American
August 13th, 2012
5:49 pm
getalife: He did lil bar, 2000 per year times four.
———————
You shouldn’t have any trouble finding that in his economic proposals and providing a link, in that case.
Didn’t think so.
Liar.
Lil' Barry Bailout - Vote American
August 13th, 2012
5:50 pm
Jobs? There are fewer of them today than when your messiah took office.
Beverly Fraud
August 13th, 2012
5:50 pm
“Prosperity should be shared by the government taking money from the people that worked hard and redistributing it to the people not responsible”
So the firemen, policemen, nurses and others who will have their taxes raised didn’t work hard?
Ok, maybe not as hard as the lobbyist who secured the no-bid contract with the government, but still, they did some work
getalife
August 13th, 2012
5:51 pm
Y’all are so far out of the mainstream you are lost and floundering on distractions.
Good grief, Americans do not know who ryan is.
They want jobs . Good jobs. Join us in the real world.
Dusty
August 13th, 2012
5:52 pm
getalife-less,
I thought you were the one who wanted “respect” for the presidency, even the candidates.
What happened? You decided to join the mob? “willie robme”?…not even clever!
getalife
August 13th, 2012
5:53 pm
Lies lil bar.
w lost 9 million jobs and you can’t even admit this fact.
cons like you and ti should be ignored.
getalife
August 13th, 2012
5:54 pm
Dusty,
He will robme 2000 per year.
The name fits.
Lil' Barry Bailout - Vote American
August 13th, 2012
5:54 pm
Sorry, getalife, but the BLS says there were 140 million jobs when Our President Bush took office, and 142 million the day he left. You and your messiah have problems with basic math.
Liar.
getalife
August 13th, 2012
5:55 pm
He is not President Dusty.
Never will be because he is out of touch with the majority.
getalife
August 13th, 2012
5:58 pm
You lie constantly lil bar.
It is all you do.
You got nothing.
Beverly Fraud
August 13th, 2012
5:58 pm
As long as Ryan is willing to start his speech with “Under my plan, Romney pays less than 1% in taxes. And here’s why this is a good thing for the middle class”
Not saying it’s not good, but let’s just be upfront and honest about how the plan affects your running mate.
Lil' Barry Bailout - Vote American
August 13th, 2012
6:01 pm
Don’t fear facts getalife.
Obozo is lying, and you lap it up.
richard
August 13th, 2012
6:03 pm
Looks like Mitt got his hair dyed today everything is black except the sides. Probably could not get it painted on the bus!!
Dusty
August 13th, 2012
6:04 pm
Logical Song, 5:46
You had a “talking point”? You did?
Well, I like poetry.
Logical Song shot….. a point…. into the air,
But nobody knows what…or where.
But that’s OK….LS is kindov a square!
Logical Song
August 13th, 2012
6:08 pm
Dusty
Stick to your poetry. You weak political commentary is pretty sad and of course shallow.
You are probably wear floaties when come on this blog.
“But Kyle, they call Romney and you names”………..
that was classic
hahahahahahaha
Dusty
August 13th, 2012
6:12 pm
GetalifeLess.
Sorry but the name fits.
MarkV
August 13th, 2012
6:17 pm
Hi Dusty,
I can see you do not have much to say on subject either. No wonder, when Kyle cannot come up with anything better than inventing his own meaning to what Geithner said back in February (!).
Lil' Barry Bailout - Vote American
August 13th, 2012
6:20 pm
Where is Geithner’s plan?
saywhat?
August 13th, 2012
6:22 pm
It looks like from the graph, The Obama administration will have the financial situation stabilized well past 2016, after which Obama will no longer be President.
If I recall correctly, all the wingnuts here are constantly reminding us that Bush is no longer president, despite the fact that it was under his watch that the nation’s economic house was demolished. By their logic, the fact that Bush left office with the house burning to the ground is irrelevant to the fact that Obama is currently overseeing a 1/2 built house (still under construction). They choose to ignore that Obama first had to put out the fire and then gather the construction materials before he could repair historically unprecedented damage.
To be consistent therefore, the wingnuts will have to agree that the Obama plan is absolutely fine, because whatever happens to the country after the minute he leaves office (in 2016 of course)is no longer his fault. Unless of course, that only applies if you are a Republican.
Dusty
August 13th, 2012
6:22 pm
Poor Logical Song…losing it.
Better tell us where you get your “quotations” because they don’t belong to me.
Ho hummm….so many dum dums….so little time…….right here at dinnertime! Good food acomin’!…
SlickRick
August 13th, 2012
6:25 pm
Lil’ Barry – Wrong. More wrong. Always wrong. Wrongest. Never right. Just plain wrong.
Right?
The Artful Dodger (Myth Robme) Is A Ryan Shame
August 13th, 2012
6:26 pm
Catholic Bishops criticized Ryan Plan Budget Cuts.
Holy Batman.