Paul Ryan Is A Pretend Fiscal Conservative
Kenneth Schortgen, Jr., writes at Examiner.com, "Ron Paul washes his hands of Keynesian, fiscally irresponsible Republican party":
Congressman Paul's assessment of the Republican party being no different than the Democrats when it comes to government spending and Keynesian economic doctrine is easily exemplified in Mitt Romney's vice-presidential candidate, Paul Ryan. As Chairman of the House budget committee, Ryan backed the raising of the debt ceiling in August of last year, and voted for TARP and the Obama stimulus packages which has increased the national debt by more than $2 trillion. His recent speech on cutting spending is actually just a proposal to cut future increases in spending, and not remove much from the over $1.4 trillion annual deficit.As the Federal Reserve finishes up its annual meeting in Jackson Hole, Wyoming today, Fed Chairman Ben Bernanke has the support of both Republicans and Democrats, no matter the campaign rhetoric. Through their willingness to bail out the banks during the credit crisis of 2008 under then President Bush, to the voting in of the failed Dodd-Frank act which actually lessens restrictions on the financial industry, the proof lies in the desire of both parties to continue to spend money it does not have, and create an ever growing debt than is unsustainable.
As has been noted is that the way the F.E.C. is set up along with the liberal justices (at all levels), the two party system, the rulings against voter ID, etc. the answer is simple.
Either Capt. Trips or an NBC style Revolution or a simple revolution is needed.
Jim P. at August 31, 2012 7:52 PM
Have run into the problem in a couple political discussions, people getting the 3 Pauls mixed up in their heads.
Ron Paul has led the way towards fiscal responsibility,
his son, Rand Paul is a few steps behind him.
the new VP prospect Paul Ryan has taken a half of a baby step in the right direction, after living most of his time deep in the Keyensian side.
Joe J at September 1, 2012 9:31 AM
Amy, the best analysis I've heard on America's financial woes comes from a Canadian named Dr. Ian Lee. You can hear him interviewed here.
In a nutshell, this is his summary of what has occurred over the past 15 years or so:
- During the Bill Clinton years, the federal gov't was taking in about 20% of GDP in taxes and spending about 20% of GDP as well. So things were balanced.
- George W. Bush reduced taxes such that only about 15% of GDP was being collected but 20% of GDP was still being spent. Not good.
- Barack Obama then increased spending quite dramatically but didn't increase taxes. As things now stand, about 15% of GDP is being collected but 25% of GDP is being spent. Even worse.
As a rule of thumb, each 1% of GDP works out to about $100 Billion. So right now, each year America is spending about $1,000 Billion more each year than it's taking in. This is unsustainable.
It seems very clear that Obama has no intention of deviating away from his past history. America WILL BE bankrupt under his leadership. If Romney is elected and Paul Ryan doesn't turn out to be a TRUE fiscal conservative then America will also be bankrupt under their leadership.
Robert W. (Vancouver) at September 1, 2012 9:43 AM
the really sad part about this is that the Republicans are being slammed by the media for Ryan's plan "cutting costs", when in reality, his plan makes the rate of growth of government spending "only" 3% for the next twenty odd years until certain debt to GDP markers are reached, at which point govt can expand to its heart's content again.
spqr2008 at September 4, 2012 12:44 PM
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