“A downgraded America.” Ryan blamed the president for the nation’s credit downgrade in August 2011 after Republicans threatened to allow the government to default on its debt for the first time in history. But the ratings agency explicitly blamed “Republicans saying that they refuse to accept any tax increases as part of a larger deal.”
. Obama “did exactly nothing” on Bowles-Simpson. Ryan said, “He created a bipartisan debt commission. They came back with an urgent report. He thanked them, sent them on their way, and then did exactly nothing.” In fact, Ryan was instrumental in sabotaging the commission, leading the other House Republicans in voting against the plan.
“$716 billion, funneled out of Medicare by President Obama.” Ryan’s favorite lie is a deliberate distortion of Obamacare’s savings from eliminating inefficiencies. Furthermore, Ryan’s own plan for Medicare includes these savings. Romney has vowed to restore these cuts, which would render the trust fund insolvent 8 years ahead of schedule.