The Path to Prosperity
Setting the Record Straight
The President and his party’s leaders have chosen to accelerate our nation toward a debt-fueled economic crisis. Rather than work together to advance solutions that meet America’s defining challenge, many in Washington remain committed to the broken politics of the past. House Republicans have advanced a plan of action that ensures greater opportunities for generations to come. As predicted, the false attacks continue from those unwilling to offer credible solutions of their own.
In response to the same tired attacks, here are the facts on the House Republican Fiscal Year 2013 Budget – The Path to Prosperity:
MYTH:The Path to Prosperity slashes key investments.
FACT: The President’s reckless budget continues to direct hardworking Americans’ tax dollars to special interests, driving the nation ever-closer to a debt-fueled economic crisis. By contrast, The Path to Prosperity advances reforms that modernize the federal government so it can deliver on its critical responsibilities in the 21st century. It delivers real spending discipline by ending the epidemic of crony politics and government overreach that has weakened confidence in the nation's institutions and its economy.
FACT: Independent fact-checkers determined that this claim was the 2011 “Lie of the Year.” The Path to Prosperity stops the raid on Medicare started by the President’s health care law, and repeals his unaccountable board of 15 unelected bureaucrats that the law empowered to cut Medicare in ways that would lead to denied care for seniors. The Path to Prosperity saves Medicare from bankruptcy. It makes no changes for those in or near retirement. For future generations, patient-centered reform will save and strengthen Medicare, offering guaranteed coverage options, including a traditional fee-for-service Medicare option, financed by a premium-support payment that guarantees affordability.
MYTH:The Path to Prosperity dismantles the safety net.
FACT: The President’s policies have resulted in a stagnant economy, hurting opportunities for low-income Americans, and his reckless budget pushes us nearer to a debt crisis that would hurt the poor the first and the worst. By contrast, The Path to Prosperity modernizes government’s benefits for those in need by converting the federal share of spending on assistance programs into block grants to the states – just like the government did with welfare in the late 1990s. Spending on these programs would continue to grow, but states would be freer to tailor programs to meet the needs of their low-income populations.
MYTH:The Path to Prosperity protects tax breaks for the wealthy.
FACT: The President’s budget chases ever-higher spending with ever-higher tax increases. His approach – taking more from hardworking taxpayers through higher rates while adding burdensome complexity to an already broken tax code – stands in opposition to the growing bipartisan consensus for lowering rates and simplifying the code. The Path to Prosperity reforms the tax code to make it simpler, fairer and more globally competitive. It proposes lowering rates to promote growth and rolling back deductions that go overwhelmingly to a relatively small class of mostly higher-income individuals.