Nobel prize winning economist and NY Times columnist Paul Krugman explains what's wrong with GOP budget czar Paul Ryan's deficit reduction plan, and what's right about President Obama's. He takes on the fallacies of privatization, Rep. Ryan's mathematical errors, and the fact that the GOP plan won't reduce the debt because it calls for $2.9 trillion in tax CUTS.
So lower taxes on the wealthy and corporations, give people a voucher to buy insurance instead of Medicare, turn Medicaid into a system of block grants ... that's the GOP plan.
But don't believe me. Read. Jennifer