17 August 2012
Ryan Budget—Real or Fairy-Tale?
It’s interesting to contrast two conservatives’ takes on the Representative Paul Ryan budget proposal that appeared in the August 16, 2012 Wall Street Journal (Daniel Mitchell’s “What’s Really in the Ryan Budget”) and in the August 13, 2012 New York Times (David Stockman’s “Paul Ryan’s Fairy-Tale Budget Plan”). Cato Institute’s Mitchell praises the Ryan plan as a good starting point to begin reform of federal fiscal policy should Governor Romney win the November election. Former Reagan OMB Director Stockman points out many failures of the Ryan plan to make the hard expenditure cuts (including defense, banking regulation, income-based eligibility for welfare entitlements) as well as its unrealistic call for “tax expenditures” that the “crony capitalists of K Street” would never let a Republican Congress get away with.
Good intentions may be enough to bring “substance” to the Romney/Ryan campaign rhetoric; but real programs (likely including defense cuts, refined regulation of the private sector, and increased tax revenues) will be needed to solve the country’s economic problems
It’s interesting to contrast two conservatives’ takes on the Representative Paul Ryan budget proposal that appeared in the August 16, 2012 Wall Street Journal (Daniel Mitchell’s “What’s Really in the Ryan Budget”) and in the August 13, 2012 New York Times (David Stockman’s “Paul Ryan’s Fairy-Tale Budget Plan”). Cato Institute’s Mitchell praises the Ryan plan as a good starting point to begin reform of federal fiscal policy should Governor Romney win the November election. Former Reagan OMB Director Stockman points out many failures of the Ryan plan to make the hard expenditure cuts (including defense, banking regulation, income-based eligibility for welfare entitlements) as well as its unrealistic call for “tax expenditures” that the “crony capitalists of K Street” would never let a Republican Congress get away with.
Good intentions may be enough to bring “substance” to the Romney/Ryan campaign rhetoric; but real programs (likely including defense cuts, refined regulation of the private sector, and increased tax revenues) will be needed to solve the country’s economic problems
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