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So, I was going to do a post on the Republican budget plan as presented in the WSJ by Rep. Paul Ryan (R-WI) until I read a Crooks and Liars post, a Steve Benin post, and a blog entry by Krugman.  I think that linking these entries will mostly suffice. 

I will add that the Republicans (aside from being disconnected from reality and/or betraying Beavis and Butthead-like understandings of that economic reality) seem once again to be banking on the massive ignorance of the American populace.  While I understand that the Republicans do well amongst the “I don’t understand that chart but abortion’s bad” crowd, the level of dangerous stupidity contained in the Republican budget alternative (i.e., spending freeze in the middle of the worst recession in a quarter century) is staggering. 

The Republican budget is basically a rehash of the exact same policies contained in the DeMint amendment–permanently cutting the capital gains tax to 15%, eliminating the estate tax, lowering the corporate tax rate from 35% to 25%, and lowering the top bracket income tax from 35% to 25%.  Again, cutting the capital gains tax was disastrous for 99% of Americans, as the chart below shows.  (Click link if chart size too small)

tax_chart2

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National Debt Clock



On May 3, 2009, the National debt was $11,236,997,227,054. Click here to see the most current figure.

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