Understanding Paul Ryan's Budget Plan

Understanding Paul Ryan's Budget Plan

Republican vice presidential candidate Paul Ryan's budget is now under scrutiny, especially for its changes to Medicare. Diane and guests explore what's in the plan and how it would reshape federal entitlement programs.

Republican presidential candidate Mitt Romney’s selection of Paul Ryan as his running mate has led to new interest in the Wisconsin congressman’s budget. In its latest form, the Ryan plan changes Medicare from a system of guaranteed payments for seniors to one that uses “premium support” credits. These vouchers may be used to purchase private insurance or to join traditional Medicare. The Ryan budget also cuts Medicaid, keeps the Bush tax cuts and streamlines the federal tax code. Critics say it will end Medicare as we know it. Supporters say reform is necessary to save the program from bankruptcy. Diane and guests discuss the Paul Ryan budget plan and what it means for the future of federal entitlement programs.

Guests

Jared Bernstein

senior fellow at the Center on Budget and Policy Priorities, and former chief economist and economic policy adviser for Vice President Joe Biden.

Mary Agnes Carey

senior correspondent for Kaiser Health News.

Grace-Marie Turner

president of the Galen Institute, a research group focusing on free-market health care reform and tax policy.

Damian Paletta

reporter for The Wall Street Journal.

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