President of the Twilight Zone ; Obama’s rhetoric on the budget deficit is not grounded in reality.
"And, of course, what presidential speech would be complete without a denunciation of Ryan for wanting to “end Medicare as we know it.” The president’s rhetoric raises the specter of seniors being wheeled out of their hospital beds tomorrow morning. But Ryan has not proposed any changes to the program for current recipients. It is true, of course, that Ryan would restructure Medicare for those under age 55 to give recipients a choice between the traditional program and a voucher that would allow them to purchase private insurance. But, his plan, drafted together with Democratic senator Ron Wyden of Oregon, hardly slashed Medicare spending — in 2022, it would spend just $21 billion less than the president’s budget.
"The president manages to leave out his own proposal for Medicare, which is to have an unelected 15-member board further reduce payments to physicians. Even Medicare’s own actuaries warn that those cutbacks could lead to hospital closures and reductions in access to care or the quality of care."
...."In reality, his proposed tax increases fall on families and small businesses earning as little as $250,000 per year. In fact, according to economists Kevin Hassett and Alan Viard, “fully 48% of the net income of sole proprietorships, partnerships, and S corporations” would be subject to the president’s tax hike.” (Emphasis added)
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