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View Diary: Krugman: After the Flimflam (100 comments)

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  •  Ryan's fantasy budgets - not his first (10+ / 0-)

    His first budget proposal - Path to Something-Or-Other - came out with the lower top individual rates (I think it was 27%), but also eliminated entirely corporate, estate and capital gains taxes.  Down to zero.  I actually downloaded and read the thing.

    The CBO scored that budget and found it would take 51 years to break even (2062 I believe it was) and would add nearly 70 trillion to our national debt, essentially quintupling it.  Ryan then came back to the CBO with laughable assumptions that his budget would bring 5% per year GDP growth within two years of enactment and keep that growth rate for the next 75 years! The US hasn't had sustained GDP growth like that since the early 50s (an odd year here and there under Reagan and Clinton). He quoted some think tank, maybe AEI, who immediately backed away from those fantasy/optimistic forecasts.  Even with this, he still wouldn't balance the budget for nearly 20 years.

    Now Ryan (he's my congressman BTW) uses "magic asterisks" and nebulous statements of overall revenue  and spending levels - all with little or no specifics.  And little to no critical review by the national media.

    Flimflam man, indeed.

    •  Paul Ryan isn't writing his plan (3+ / 0-)
      Recommended by:
      salmo, Habitat Vic, Lily O Lady

      It's being written by others while still other people blow smoke up his ass while telling him how brilliant he is.

      Ryan can't speak to the plan's specifics because he doesn't understand them. He lacks the knowledge to understand them, only he doesn't know it.  Ryan believes whatever his handlers tell him, including how brilliant he is. Ryan is a useful fool.

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