Analysis: Paul Ryan Voted to Add $6.8 Trillion to the Federal Debt

Harsha Nahata/Guest blogger for Think Progress

Vice Presidential Candidate Paul Ryan has gained an undeserved reputation as a “fiscal hawk,” touting his “Path to Prosperity” budget as a responsible plan to rein in what he describes as a “path to debt and decline.” But Ryan’s votes in Congress show that he is as guilty as anyone of running up the nation’s debt.

A Center for American Progress Action Fund analysis shows that Ryan voted to add a grand total of $6.8 trillionto the federal debt during his time in Congress, voting for at least 65 bills that either reduced revenue or increased spending.

From 2001 to 2008, Congress passed legislation that increased the national deficit by a total of $4 trillion — the number grows to $6 trillion if you add in the how much those policies have cost through 2011. Ryan voted for 90 percent of these deficit increasing bills.

What did Ryan vote to spend on? Here is a break-down of his votes:

– Beginning with the Bush tax cuts, since 2001 Ryan has voted to add $2.5 trillion worth of tax cuts to the deficit.

– In the last 11 years, Paul Ryan voted for every bill that called for an increase in defense spending. In total, this has added $1.9 trillion to the deficit.

– Paul Ryan also voted to increase non-defense discretionary spending — the very thing he is pushing to cut now. He voted to spend $270 billion on Medicare Part D (all of which was unpaid for). He also added $80 billion to the deficit by voting for an agriculture bill in 2002, and he added another $20 billion in 2003 when he voted for changes to military retirement. Lastly, he voted for increased borrowing authority for flood insurance, adding yet another $17 billion to the deficit.

Plus, Ryan’s plan won’t really balance the budget — at least not for the foreseeable future. The Tax Policy Center calculates that under Ryan’s budget plan, the federal government would only raise revenue totaling 15.8 percent of GDP. This would still make the deficit 4 percent of GDP by 2022.

CBO: Repealing Obamacare would increase deficit by $109 billion

By Eric W. Dolan/Raw Story

Repealing all of President Barack Obama’s health care law would increase the federal budget deficit by about $109 billion from 2013 to 2022, according to the Congressional Budget Office.

House Republicans have voted more than 30 times to repeal the Affordable Care Act, claiming the law will increase the deficit, hurt job growth, and make health care more expensive. But in a letterto House Speaker John Boehner (R-OH) the CBO explained that the latest repeal bill, H.R. 6079, would reduce spending by $890 billion but slash revenues by $1 trillion.

“Deficits would be increased under H.R. 6079 because the net savings from eliminating the insurance coverage provisions would be more than offset by the combination of other spending increases and revenue reductions,” CBO director Douglas W. Elmendorf explained.

H.R. 6079 was passed in the House on July 11, but like the many repeal bills before it, has no chance of surviving the Democratic-led Senate.

Previously, the CBO had estimated that repealing the Affordable Care Act would increase the national budget deficit by $940 billion. But it revised its estimate in the wake of the Supreme Court’s ruling in June, which allowed states to opt out of the law’s Medicaid expansion.

“What we know from today’s CBO report, as well as from similar reports from CBO and the Medicare actuary, is that the new health care law is dramatically increasing health care spending and costs – costs to our economy, costs to taxpayers, and costs to states,” Senate Republican Leader Mitch McConnell (R-KY) said in a statement. “In addition, today’s report also shows that taxes will increase by more than $1 trillion under Obamacare. The House has already acted to repeal this deeply flawed law and the Senate should do the same.”