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Wed Oct 24, 2012, 11:06 AM

Ryan's Plan Would Increase Poverty, Inequality, and the Deficit (Think Progress)

1) RYAN AND ROMNEY’S SUPPLY SIDE POLICIES DON’T REDUCE POVERTY: Romney’s and Ryan’s economic prescription — which an spokesperson described as the Bush program, “just updated” — has failed to pull people out of poverty when its been tried in the past. During the Bush administration, 8.3 million people fell into poverty and child poverty rose by 3 percent. President Clinton’s policies, meanwhile, lifted 8 million people out of poverty. This chart compares the two administrations.

2) THE RYAN BUDGET INCREASES INCOME INEQUALITY: The budget Ryan authored makes a “priority of rewarding wealth over work,” which would increase income inequality. This chart shows that as a country grows more economically unequal, it becomes more likely that a parent’s income will act as a predictor for his or her child’s income.

3) 62 PERCENT OF RYAN’S CUTS COME FROM LOW-INCOME PROGRAMS: According to the Center on Budget and Policy Priorities, Ryan’s budget “would get at least 62 percent of its $5.3 trillion in nondefense budget cuts over ten years (relative to a continuation of current policies) from programs that serve people of limited means.”

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