Watch Obama Renews Push for Buffett Rule on PBS. See more from PBS NewsHour.
Listen to this NPR story about how Mitt Romney has embraced the "Paul Ryan budget." The Paul Ryan budget - named after the Wisconsin Republican Congressman who is credited as the chief author and introduced it to Congress - characterizes current conservative fiscal thinking. In short, it calls for significant cuts to spending while maintaining current tax cuts and extending new tax cuts.
The Obama budget, which characterizes liberal fiscal thinking, calls for a new tax on the super rich - the so-called "Buffett Rule," named after Warren Buffett, the billionaire who has suggested taxing the super rich at higher rates - while cutting less from domestic spending.
After you have an understanding of the practical and ideological differences between the Obama and Romney (Ryan) budget, write a reflection on (1) which budget is a better solution to the current fiscal situation, and (2) how these contrasting budgets will play a role in the 2012 presidential campaign.
Consider some of the following in your response;
- Which budget do you think will be more popular among independents and "swing voters?"
- How do these budgets reflect the ideology of their proponents?
- Where do you see the greatest strengths in each of these budgets (fiscally and politically)?
- Where do you see the greatest weaknesses of each of these budgets?
- Do you see any compromise here? Do either of these plans deal with entitlements and mandatory spending? Which plan is better?
