Pelosi Statement on Congressman Paul Ryan

Contact: Nadeam Elshami/Drew Hammill, 202-226-7616

San Francisco – Democratic Leader Nancy Pelosi released the following statement this morning on Governor Romney’s selection of Congressman Paul Ryan as his running mate:

“There is no question that former Governor Romney now owns the Republican, Ryan budget that puts millionaires ahead of Medicare and the middle class. Congressman Paul Ryan led House Republicans in voting to end the Medicare guarantee, which increases costs on seniors and weakens America's great middle class in order to give tax breaks to millionaires, Big Oil and corporations that ship jobs overseas.

“As Democrats, we will always preserve Medicare, strengthen the middle class and work to reignite the American Dream by building ladders of opportunity for all those who work hard and play by the rules. The choice Americans are facing could not be more clear.”

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Here are the top three things you need to know about the Ryan budget:

1. Ends the Medicare guarantee and shifts costs to seniors.

AARP: “By creating a ‘premium support’ system for future Medicare beneficiaries, the proposal is likely to simply increase costs for beneficiaries while removing Medicare's promise of secure health coverage -- a guarantee that future seniors have contributed to through a lifetime of hard work.”

The Hill: CBO: Policies Would Cut Medicare Benefits

2. Gives those making over $1 million per year an average tax cut of $394,000 [CBPP] while raising taxes on the middle class. [JEC]

3. Destroys 4.1 million American jobs through 2014. [EPI]

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