Rep. Paul Ryan says that his plan to slash government spending and reform the tax code would lead to a renaissance in the American economy. But his numbers just don’t add up.
Ryan’s budget plan promises much more in terms of job growth than it could ever deliver. Ryan, the Wisconsin Republican who’s chairman of the House Budget Committee, says it’s essential that we drastically cut government spending and bring the national debt under control. Otherwise, he says, this once-proud nation will be reduced to the status of Greece or worse. The economy would decline and we’d be faced with “massive tax increases, sudden and disruptive cuts to vital programs, runaway inflation, or all three.”
In other words, in order to prevent “sudden and disruptive cuts to vital programs,” it’s essential that we make sudden and disruptive cuts to vital programs. The cost of such cuts — in human lives — might be justified if the benefits — in economic growth and stability — are high enough.
Are they?
http://www.marketwatch.com/story/rep-paul-ryans-magic-job-creation-2011-04-06?link=MW_story_popular
