Fairytale Budget Plan Summary

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Paul Ryan’s fairytale budget plan is written by David Stockman. Stockman argues in his perspective on Ryan’s future budget plan. Stockman begins his view towards Republicans government. He blames the Republican Party that runs capitalism for the country’s increased debt. If the big government cuts of taxes for the “job creators,” it will have no positive effect on the economic status, but will decline and collapse eventually. As our nation sinks into inflation, Stockman says “today’s natural security is really doubled Eisenhower’s when he left office in 1961.” The Soviet Union era (the nuclear bomb and Sputnik) caused the economy to spend $400 Billion in today’s dollars; Stockman compares that situation to Ryan’s future plan. Similarly Ryan’s…show more content…
Stockman finds these banks “too big to exist.” Ryan believes the taxpayer’s money deposit should be handled by the states not the federal. Stockman disagrees, he finds it to difficult to manage internally and externally; he believes the bank should broken up by a higher authority. He thinks it would be better if Ryan looked back to the times of restoration of “Glass-Steagall, Depression-era legislation that that separated commercial and investment banking.” Stockman brings up the ideal way to reduce or eliminate Social insurance benefits. He strongly believes the government should make changes on the income based eligibility test to reduce or eliminate the need to give Social insurance to millions of people. This would avoid tax increase issue. According to Ryan’s plan, he has not decided on anything to cut from $1.3 trillion per year cost to Social Security and Medicare. Stockman adds that Republicans favor and use money for the cancer research or other popular programs, so why not makes plans to cut the trillions of money going into Social Security? In addition to Ryan’s future plan for Social Security, Ryan has no significant plans to create jobs. Stockman believes America needs national sales tax, Ryan does not support it. The national sales tax or consumption tax comes from the businesses/saddle workers which add efficient value tax to the economy. Towards the
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