Thursday, April 07, 2011

Paul Ryan's Budget Plan: The Good, The Bad, & The Ugly

More important, Ryan's budget, like his 2010 "Road Map For America's Future" (from which much in the budget is inspired), is a serious attempt to think through the implications of the past decade's wild spending spree, in which federal outlays increased by more than 60 percent in real terms and debt held by the public exploded from 36 percent of GDP in 2007 to its current 62 percent level. Ryan should be commended for refusing to be passive in the face of spending trends that threaten to swamp the nation's economy. Shockingly, the "new normal" for the 21st century has been massive expansions in government spending and reach, first under Bush and now under Obama.

Posted via email from The Blue Pelican

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