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The Facts About the Debt; No More Empty Promises A Fact – Based Budget

The Facts About the Debt; No More Empty Promises A Fact – Based Budget. Total Spending in FY 2010 = $3.5 Trillion (Outlays in Billions of Dollars). What Drives Our Debt? (Government Spending as Share of Economy). Who Owns Our Debt? Debt Held By Public, 1970-2010.

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The Facts About the Debt; No More Empty Promises A Fact – Based Budget

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  1. The Facts About the Debt;No More Empty PromisesA Fact – Based Budget

  2. Total Spending in FY 2010 = $3.5 Trillion (Outlays in Billions of Dollars)

  3. What Drives Our Debt? (Government Spending as Share of Economy)

  4. Who Owns Our Debt? Debt Held By Public, 1970-2010 Source: U.S. Department of Treasury

  5. The Path to Prosperity • Efficient, Effective and Responsible Government • Strengthening the Social Safety Net • Fulfilling the Mission of Health and Retirement Security for All Americans • Pro-Growth Tax Reform

  6. The Choice on Medicare The Path to Prosperity President’s Plan Current Seniors Future Generations • No Changes Raid Medicare by $500 billion to fund new law • No Disruptions Empower rationing board of bureaucrats to cut Medicare • Preserve and Protect Personalized Medicare; like Members of Congress No plan to save Medicare Allows Medicare to go bankrupt in 2020 Wealthy get less, sick & low income get more support • Guaranteed Medicare plan

  7. Additional Slides

  8. We Are In A Spending-Driven Debt CrisisHistoric/Projected Spending & Revenue As A Percentage Of The Economy Source: Office of Management and Budget Historic Tables, Congressional Budget Office; projections based on the CBO’s Alternative Fiscal Scenario.

  9. Taxpayers Supporting Each Social Security Recipient RECIPIENT WORKERS 1950 16.5 8.6 1960 3.4 2000 2009 3.0 2040 2.1 Source: Social Security Administration, The 2010 Annual Repot of the Board of Trustees; Centers for Disease Control, U.S. Life Tables

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