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Tuesday, April 05, 2011

GOP's Path to Prosperity: A True, Welcome Change

Congressman Paul Ryan summarized the GOP's budget plan in today's WSJ. Among other things, it would reduce spending on domestic government agencies to below 2008 levels (which of course, are still well above historical norms), reforming welfare, Medicare and Medicaid and reform taxes by reducing top individual and corporate rates to 25%.

The headline number is a savings of $6.2 trillion from the Obama budget over the next 10 years, and that's what the media will cite as a catastrophe. Of course, Obama's budget is so unrealistic that if implemented, the country would be bankrupt long before the decade was over.

Still, all in all it's a good start and one that the GOP should embrace wholeheartedly.