erik lundegaard

Paul Ryan's Budget Attacked Left and Right

From the Left:

Look, Ryan hasn’t “crunched the numbers”; he has just scribbled some stuff down, without checking at all to see if it makes sense. He asserts that he can cut taxes without net loss of revenue by closing unspecified loopholes; he asserts that he can cut discretionary spending to levels not seen since Calvin Coolidge, without saying how; he asserts that he can convert Medicare to a voucher system, with much lower spending than now projected, without even a hint of how this is supposed to work. This is just a fantasy, not a serious policy proposal.

--Paul Krugman, Nobel-prize-winning economist, in his post “The Ryan Role,” on the Conscience of a Liberal blog.

From the Right:

The Ryan Plan boils down to a fetish for cutting the top marginal income-tax rate for “job creators” — i.e. the superwealthy — to 25 percent and paying for it with an as-yet-undisclosed plan to broaden the tax base. Of the $1 trillion in so-called tax expenditures that the plan would attack, the vast majority would come from slashing popular tax breaks for employer-provided health insurance, mortgage interest, 401(k) accounts, state and local taxes, charitable giving and the like, not to mention low rates on capital gains and dividends. The crony capitalists of K Street already own more than enough Republican votes to stop that train before it leaves the station.

In short, Mr. Ryan’s plan is devoid of credible math or hard policy choices. And it couldn’t pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nation’s fiscal calamity and no plan to revive capitalist prosperity — just empty sermons.

--David Stockman, former director of Office of Management and Budget under Pres. Reagan, in his Op-Ed, “Paul Ryan's Fairy-Tale Budget Plan,” in The New York Times

Who knew the Right would be more brutal to him?

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Posted at 05:09 PM on Tue. Aug 14, 2012 in category Quote of the Day  


Tim wrote:

Stockman has been really interesting every time I've seen him on TV the last few years. He's one of those old-school Republicans that actually lives in the real world.

Comment posted on Tue. Aug 14, 2012 at 08:13 PM

Deceased Crab Reconquers La-Mulana wrote:

Tut tut! Stockman is so shrill!

Comment posted on Tue. Aug 14, 2012 at 09:33 PM

Reed wrote:

So, it seems like Ryan's budget was like that book report some kid rushed through after not having even read to the end of the book. Then he turned it in to the teacher, knowing it was not truly complete, but hoping for a C anyway. Except in this case, the teacher was a slobby mess of right wing hacks who glanced at the talking points enough to go on TV and say the word “serious” as many times as possible.

Ah, but once someone gets elevated to the big time, this becomes more of a thesis than a book report, and the review board grows in size, expertise, and intelligence. Ryan is going to now have to defend this one, and do so over the course of many months. Interesting to see how this will play out, especially if some on the right are willing to call a spade a spade.

Comment posted on Wed. Aug 15, 2012 at 01:04 AM
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