budget deficit

Something About the Speaker (Footnote Fury)

House Speaker Paul Ryan (R-WI01) speaks at his primary night press conference, 9 August 2016, in Janesville, Wisconsin. (Photo by Darren Hauck/Getty Images)

“The new Paul Ryan tax cuts make the Bush tax cuts look like socialism.”

Jonathan Chait

Steve Benen frames the issue well enough:

House Speaker Paul Ryan (R-Wis.) has largely pulled off an impressive public-relations gambit in recent years. The Republican leader has recast himself as an anti-poverty crusader, without making any meaningful changes to his far-right agenda, simply by using the word “poverty” a whole lot.

But it’s occasionally worthwhile to look past the rhetoric and focus on the hard data ....

.... Ryan’s tax plan is crafted in such a way as to give 99.6% of the benefits to the wealthiest of the wealthy by 2025. The other 0.4% would be divided up across the other 99% of us.

This is a feature, not a bug, of the House Speaker’s approach to economic policy. Ryan genuinely believes that massive tax breaks for those at the very top will spur economic growth that would, in time, benefit everyone. For the Wisconsin congressman, trickle-down policy, its track record notwithstanding, remains the most responsible course to broad national prosperity.

(more…)

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The Ryan Budget (Murmur Mix)

House Speaker Paul Ryan, R-Wis. meets with reporters on Capitol Hill in Washington, D.C., Wednesday, 16 December 2015. (AP Photo/J. Scott Applewhite)

“When the next Democratic speaker wants to spend $350 billion over ten years to make public colleges tuition-free for undergraduates, the system will turn in knots to make it seem like we’re broke and can’t afford it. But when Speaker Ryan wants $350 billion to help multinational corporations lower their tax burdens, the system will clear the runway as quickly as possible for these vital and necessary investments.”

David T. S. Jonas

Anyone giving even a modicum of attention to the manner in which Congress actually works can understand why the Ryan Budget seems like a fine accomplishment, but it is also, to the one, a “kind of backroom deal that offers real concessions to Democrats and blows up the deficit wasn’t the change insurgent Republicans were looking for when they ousted John Boehner”, Ezra Klein explained; more directly, he continues that in the larger context the lesson is, “No one cares about the deficit―or, at the very least, everyone cares about other priorities more than they care about the deficit.” "If John Boehner made the spending deal Paul Ryan just did, conservatives would’ve called for his head." (Jim Newell, Slate, 16 December 2015) To the other, we might also beg leave to wonder at what Matt Fuller and Jennifer Bendery described as the “massive spending bill that nobody especially likes”. Jim Newell summarizes, “If John Boehner made the spending deal Paul Ryan just did, conservatives would’ve called for his head”.

And there is merit in the idea that nobody is wholly satisfied, but it also says something important that compromise means lowered expectations. Something about competition and partnership goes here.

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Image notes: Top ― House Speaker Paul Ryan, R-Wis. meets with reporters on Capitol Hill in Washington, D.C., Wednesday, 16 December 2015. (AP Photo/J. Scott Applewhite) Left ― Via Jim Newell of Slate: “If John Boehner made the spending deal Paul Ryan just did, conservatives would’ve called for his head.”

French, Lauren. “Ryan: Budget package a true compromise”. Politico. 15 December 2015.

Fuller, Matt and Jennifer Bendery. “Congress Ready To Pass Massive Spending Bill That Nobody Especially Likes”. The Huffington Post. 16 December 2015.

Jonas, David T. S. “Maybe Rush Limbaugh has a point: Paul Ryan just blew up the deficit, and Democrats are letting him”. Salon. 19 December 2015.

Klein, Ezra. “The big new budget deal, explained”. Vox. 18 December 2015.

Newell, Jim. “The Paul Ryan Compromise”. Slate. 16 December 2015.

The Times Editorial Board. “Ryan shows compromises can be reached in the House without brinkmanship”. 17 December 2015.