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•Accused President Obama's health care law of funneling money away from Medicare "at the expense of the elderly." In fact, Medicare's chief actuary says the law "substantially improves" the system's finances, and Ryan himself has embraced the same savings.
•Accused Obama of doing "exactly nothing" about recommendations of a bipartisan deficit commission — which Ryan himself helped scuttle.
Sunday, September 2nd 2012 at 10:21PM
DAVID JOHNSON
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•Claimed the American people were "cut out" of stimulus spending. Actually, more than a quarter of all stimulus dollars went for tax relief for workers.
•Faulted Obama for failing to deliver a 2008 campaign promise to keep a Wisconsin plant open. It closed less than a month before Obama took office.
•Blamed Obama for the loss of a AAA credit rating for the U.S. Actually, Standard & Poor's blamed the downgrade on the uncompromising stands of both Republicans and Democrats.
And when he wasn't attacking Obama, Ryan was puffing up the record of his running mate, Mitt Romney, on taxes and unemployment.
Taking money from Medicare?
Ryan continued the campaign's false line of attack that Obama had "funneled" money out of Medicare to pay for the federal health care law "at the expense of the elderly." But that's contradicted by Medicare's chief actuary, in a statement at the end of the most recent report of the system's trustees (our emphasis added):
Medicare Actuary, April 23, 2012: [Obama's] Affordable Care Act makes important changes to the Medicare program and substantially improves its financial outlook …
Medicare's money isn't being taken away. The Affordable Care Act calls for slowing the growth in spending, a move that — if successful — would keep the hospital insurance trust fund solvent for longer than if the reductions didn't happen.
Ryan himself proposed keeping most of these same spending cuts in his most recent "Path to Prosperity" budget. Yet, Ryan criticized Obama's cuts as "the biggest, coldest power play of all" and suggested seniors would suffer as a result.
Ryan, Aug. 29: And the biggest, coldest power play of all in Obamacare came at the expense of the elderly. … [T]hey just took it all away from Medicare, $716 billion funneled out of Medicare by President Obama.
The Affordable Care Act calls for a $716 billion reduction in the future growth of Medicare spending over 10 years, with most of that —about $415 billion— coming from a reduction in the future growth of payments to hospitals through Medicare Part A. And Medicare Part A's trust fund, as we've explained before, is in trouble financially. It's set to be insolvent in 2024, even with these spending cuts. Without them, the trust fund wouldn't be able to fully pay projected benefits in 2016, the Medicare trustees estimate.
Deficit commission
Ryan accused Obama of doing "exactly nothing" about recommendations from a bipartisan presidential commission to reduce the deficit. But Ryan himself was among a minority of commission members whose opposition scuttled the plan and prevented it from being sent automatically to Congress for action.
Ryan: He created a new bipartisan debt commission. They came back with an urgent report. He thanks them, sent them on their way, and then did exactly nothing. Republicans stepped up with good-faith reforms and solutions equal to the problems. How did the president respond? By doing nothing — nothing except to dodge and demagogue the issue.
The National Commission on Fiscal Responsibility and Reform's report proposed deep spending cuts in both domestic and military spending, and an overhaul of the tax code that would have lowered rates but raised revenues — all in an attempt to slow the growth of government by $4 trillion over 10 years.
Many Republicans, including Ryan, opposed the military cuts and new tax revenue, while many Democrats opposed changes to Social Security that included raising the full retirement age.
Sunday, September 2nd 2012 at 10:22PM
DAVID JOHNSON
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