1. Sets a $1 trillion deficit for 2012.
2. Continues deficit spending for 30 years.
3. Promises hundreds of billions of dollars from “closing tax loopholes” without specifying a single loophole.
4. Leaves middle class taxes the same, but reduces the tax rate for millionaires to 25%, the lowest tax rate since the Hoover administration.
5. Privatizes Medicare (via a voucher system) for people under 55.
6. Sends federal money to the states to fund Medicaid — without holding the states accountable for how they spend federal dollars.
7. One-sixth of Ryan’s deficit reduction comes from ending the wars in Iraq and Afghanistan.
8. 20% of deficit reduction comes from repeal of the new healthcare law, which the CBO says will save $1.2 billion over the next two decades.
9. Developed without any bi-partisan input. Although Ryan is chairman of the House Budget Committee, he excluded all Democrats while developing this plan.
I hope other people can add to this list.
