(Emphasis mine)
Over 10 years, Ryan envisions cutting $1.7 trillion from domestic discretionary programs, $1.4 trillion by starving the new health care law, $1 trillion from Iraq and Afghanistan, and $771 billion by turning Medicaid into a block-grant program. Between “de-funding” the new health care law and the restructuring of Medicaid, that program would see cuts of $1.4 trillion over the next decade — though the pain of that may be overstated given that the spending for the new health care law hasn’t gone into effect yet. Ryan leaves Social Security alone.
On one level, Ryan’s projected savings aren’t worth the paper they’re printed on. The plan is dead on arrival in the Senate. Even if it weren’t budgets are not binding — and there’s a new one, with new projections, every year. Except, that is, for last year, when House Democrats, for the first time in modern budgeting history, failed to produce one.
From a legislative perspective, the key numbers are these: For fiscal 2012, the government would spend $3.529 trillion and collect $2.533 trillion, for a deficit of $995 billion — or $393 billion less than the projected $1.388 trillion deficit for this year;
and over 10 years, the cumulative debt would be $1.7 trillion less than is currently projected because Ryan’s savings are offset by tax cuts to the tune of $4.2 trillion.more...