OP-ED: An Unserious Man - By Paul Krugman
Mitt Romneys choice of Paul Ryan as his running mate led to a wave of pundit accolades. Now, declared writer after writer, were going to have a real debate about the nations fiscal future. This was predictable: never mind the Tea Party, Mr. Ryans true constituency is the commentariat, which years ago decided that he was the Honest, Serious Conservative, whose proposals deserve respect even if you dont like him.
But he isnt and they dont. Ryanomics is and always has been a con game, although to be fair, it has become even more of a con since Mr. Ryan joined the ticket.
Lets talk about whats actually in the Ryan plan, and lets distinguish in particular between actual, specific policy proposals and unsupported assertions. To focus things a bit more, lets talk as most budget discussions do about whats supposed to happen over the next 10 years.
On the tax side, Mr. Ryan proposes big cuts in tax rates on top income brackets and corporations. He has tried to dodge the normal process in which tax proposals are scored by independent auditors, but the nonpartisan Tax Policy Center has done the math, and the revenue loss from these cuts comes to $4.3 trillion over the next decade.
On the spending side, Mr. Ryan proposes huge cuts in Medicaid, turning it over to the states while sharply reducing funding relative to projections under current policy. That saves around $800 billion. He proposes similar harsh cuts in food stamps, saving a further $130 billion or so, plus a grab-bag of other cuts, such as reduced aid to college students. Lets be generous and say that all these cuts would save $1 trillion.
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http://www.nytimes.com/2012/08/20/opinion/krugman-an-unserious-man.html?_r=1