Tuesday, December 04, 2012

No change for GOP: Relying on the Paul Ryan method

Three-Card Budget Monte

Paul Krugman, NYT

It goes without saying that the Republican "counteroffer" is basically fake. It calls for $800 billion in revenue from closing loopholes, but doesn't specify a single loophole to be closed; it calls for huge spending cuts, but aside from raising the Medicare age and cutting the Social Security inflation adjustment -- moves worth only around $300 billion -- it doesn't specify how these cuts are to be achieved. So it's basically the Paul Ryan method: scribble down some numbers and pretend that you're a budget wonk with a Serious plan.

What I haven't seen pointed out here is the longer arc of GOP strategy. Does anyone recall how the Bush tax cuts were passed? The 2001 cut was passed based on the claim that the government was running an excessive surplus; the 2003 cut on the claim that it would provide an economic boost. Then the surplus went away, and the economy did not, to say the least, perform very well.

(More here.)

1 Comments:

Blogger Tom Koch said...

Funny. I don't recall Krugman criticizing Bowles when he made his proposal a while back,… what has changed?

9:07 AM  

Post a Comment

Links to this post:

Create a Link

<< Home