Sunday, June 19, 2011

The Pawlenty Plan Part 2

First the U.S will spend 3.8 Trillion this year. Let’s say Pawlenty's plan would only cost 380 billion then you add that with 1.6 trillion you have a approximate 2.0 trillion dollar deficit. Even if you reduce the deficit to 1.9 trillion, because of the stimulus you will have to cut spending in half to pay for this plan. Discretionary spending today accounts for 24% of the budget. Meaning Pawlenty will have to kill all government agencies from the education department- to the transportation department, and will have to cut Medicare and Medicaid deep (even more than Paul Ryan is proposing) just to pay for his plan.

With all these spending cuts the economy isn't going to grow at five percent Pawlenty will be lucky if the economy grows at all under this plan, and revenue will not come back as he hopes so there will still be a major deficit.

Some would say at least he is reducing taxes, but he of course is giving it to millionairess who don't need the money. the Top 20% will see the tax bracket reduce by 8.6% and for the wall street guys who are in the top one percent who of course need more money (Pawlenty will reduce there tax bracket by 14.6%). The bottom 20% income Americans will see there tax bracket reduce by 0.2%. That is about $23. I wonder how $23 will  give them enough money to pay for there health considering medicare and health care will be cut to oblivion.

This man would be a great Republican nominee against Obama as he will be an easy opponent. 

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