Rep Paul Ryan, Chairman of the House Budget Committee, presented the House Republican budget recommendations this week.  The Republicans put a lot of effort into the lead up to the big announcement with Ryan and other house leaders tweeting away and creating internet videos.  Ryan hit the TV news circuit over the past few days to get out the message.

The big news is that Ryan has proposed to save over $6T against current projections over the next 10 years while President Obama's proposal will save around $3T.   Ryan claims his plan will reduce the US government debt as a percentage of the US economy.  Ryan proposes two lower tax brackets (10 and 25 percent) for individuals with a reduction in "tax breaks".  Unfortunately,  the reduction in "tax breaks" is currently undefined.  Ryan has proposed some form of public input into the process of defining what "tax breaks" get cut.  Ryan also proposes to significantly reduce government spending on a variety of programs including some entitlements.

I like Paul Ryan.  He has been one of the very few political leaders willing to have a rational discussion about solving the US debt crisis with real changes to US government spending.  But his plan doesn't balance the budget, it doesn't keep the national debt from continuing to grow and doesn't fundamentally solve the problems that must be addressed.  And he was roundly criticized for his plan by liberal progressives that can stand the thought of reductions in US government entitlement spending.

The US Senate hasn't passed a budget in about three years and it appears there will be no action on a budget this year because of the November elections.  Senator Harry Reid, is likely the most irresponsible political leader in Washington as he willfully violates the law by refusing to permit budget debate in the Senate.  Reid has no problem advocating unnecessary spending in his home sate and building up the US debt pile to the moon.  After Ryan's budget passes the House of Representatives it will sit in the Senate with no action taken.

While the Congress accomplishes nothing, President Obama continues to advocate programs that don't make fiscal sense and fail to act on policy changes that are needed to point the county in the right direction from a fiscal perspective.  The recommendations of Obama's Bowles-Simpson Commission haven't been acted upon.  The failure of President Obama to fundamentally endorse the Bowles-Simpson Commission's recommendations will be remembered by historians as one of the greatest failures of political leadership in the history of the United States.

Our national debt is now in excess of $15T.  The deficit this year will exceed $1T. Most US citizens are takers, not givers, in one form or another from the US government and many are advocating for more handouts. It is likely we will hit the current US federal debt limit around the end of 2012.   The absurdity of the US government fiscal management and budget process continues. 

TPM

Tonight Mitt Romney won the Illinois primary.  During his victory speech tonight and during Rick Santorum's speech, both men placed emphasis on "Economic Freedom" for all American citizens.  Both emphasized that President Obama policies are about advancing big government control over most aspects of the lives of citizens. 

Mitt Romney's was on fire during his speech tonight.  He gave the best speech that I have seen him give.  He delivered several key themes that we should all think hard about. 

''We deserve a president who believes in us, & I believe in the American people.''

"For 25 years, I lived and breathed business... you can't learn that teaching constitutional law"

"The American economy is fueled by freedom."

I might add that our freedom and our economy are fueled by individual initiative and self reliance.  Our government didn't develop the world's largest economy, the US people, individually, in small work groups and large corporations, did.  Over the past few decades our government has expanded its role in our lives.  In the beginning there were some positive benefits, now the government is a major impediment to our collective success.

We must also realize that success and failure are part of life.  We all like to succeed and don't like failing.  However, without failure or fear of failure people don't learn.  People don't make progress if they don't learn.  Collectively we must be allowed to fail and bear the consequences of failure.  We must be allowed to feel the pain and consequences of failure so we can individually and collectively make corrections to our thinking and actions.  Our government is attempting to prevent us individually and collectively from feeling the pain of failure.  While this may be helpful in the short term it doesn't allow us to fully learn the lessons we must learn and make needed corrections in our lives.  We must have the freedom to fail.

Much of Obama's expansion of big government economics is aimed at pain avoidance.  It will not be successful in the long term.  When impacted by a bad personal decision or impacted by the decisions of others, people must be allowed to make the necessary changes to find their way forward in the world economy.   People need to face reality and adapt to changed conditions. 

We must do everything possible to restore our economic freedom and give everyone the opportunity to succeed or fail based on their personal energy and abilities.  If we let big government continue to expand, everyone will fail except for those governing us.

TPM

I recently finished reading Walter Isaacson's new biography of Steve Jobs, Steve Jobs.  Mr. Isaacson did a great job in highlighting the positive and negative aspects of Job's life.  

It is truly amazing that one person could be the driving force behind so many technology and business advancements during a work life that was shortened due to his death from cancer last fall.  At the same time Steve Jobs was in the right place at the right time in terms of becoming associated with other brilliant people that were integral to his success.  From Steve Wozniak, the developer of the Apple II, to the first Macintosh development team to John Lasseter, the brilliant creative force behind Pixar, and many others, including Bill Gates, there were hundreds of other people integral to the success of Steve Jobs as a business executive.  While it was a team effort that lead to success during all phases of Steve Jobs career there is no doubt that Jobs was a fantastic strategic thinker and charismatic leader that relentlessly drove his business teams to success.  He started out his career with nothing but his parents garage as a work place and ended up building the most valuable company in the world in Apple. 

Mr. Isaacson also explores the negative side of Steve Jobs.  There is no doubt that Steve Jobs treated people unfairly at times in his career.  Jobs' intense focus on his business career was done at the expense of his family life.  Steve Jobs personal story outside of his business career is nothing to be admired.  However, it must be understood in order for anyone to get a complete picture of the man.  There are lessons to be learned for all of us.  One needs to read Steve Jobs to get a full appreciation of the kind of person that Steve Jobs was and became as he evolved through his life.

The first computer I purchased for my family was an Apple II GS.  I later bought a high powered Macintosh primarily for use by my children.   I never was a big fan of Apple computers because I used PCs at work and was much more comfortable with them.  I don't have any Apple products in my home at the moment.  But maybe we will purchase a New iPad when they become available.  Apple officially announced the New iPad today.  The legacy of Steve Jobs continues.

TPM