Posted by: Rick | Friday, March 23, 2012

My New Hero

Bruce Bartlett is an economic policy guy who used to work for Ronald Reagan, among others. He still calls himself a conservative, but he jumped out of the Republican clown car several years ago, and he now writes blistering columns skewering the imbecilities of his former comrades. Here he is on Paul (“Wonder Boy”) Ryan:

In short, looking only at the tax side of Ryan’s plan, he is anticipating enactment of an extraordinarily ambitious tax reform on top of the most ambitious budget cutting effort ever enacted. He would sharply cut outlays for every major program except Social Security and national defense. Every governmental function one can think of would be virtually abolished except for Medicare, Social Security and defense. A key reason for the severity of these cuts, of course, is that Ryan would cut taxes at the same time he is cutting spending. To achieve balance with lower than projected revenues requires even larger cuts in spending.

I do not believe any of this will ever happen or could ever happen. I think Ryan has an undeserved reputation for seriousness in budget matters. The word “fantasy” would better apply. As Prof. Calvin Johnson of the University of Texas law school told me, the tax side of Ryan’s plan “is floating in the clouds without any connection to earth or reality.” And of course accomplishing what he hopes to do on the spending side is even more fanciful.

In my opinion, the Ryan budget should be seen as nothing more than a PR document for Republicans so they can say they have a plan to balance the budget, cut taxes, and cure the common cold. It may serve that narrow purpose, although many Republicans are saying that it doesn’t go far enough in slashing spending. I wish I could buy some of the stuff these guys are drinking or smoking.

Snap!

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