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Breaking: Krugman opposes Republican economic plan


Mr. Ryan, as you may recall, has positioned himself as an icon of truth-telling and fiscal responsibility, while offering policy proposals that are neither honest nor responsible. He calls for huge tax cuts, while proposing specific spending cuts that, while inflicting immense hardship on our most vulnerable citizens, would fall far short of making up for the revenue loss. His claims to reduce the deficit therefore rely on assertions that he would make up for the lost revenue by closing loopholes that he refuses to specify, and achieve further huge spending cuts in ways that he also refuses to specify.

But didn't the Congressional Budget Office evaluate Mr. Ryan's plan and conclude that it would indeed reduce the deficit? I'm glad you asked that. You see, the budget office didn't actually evaluate his plan, because there weren't enough details. Instead, it let Mr. Ryan specify paths for future spending and revenue, while noting -- in what sounds to me like a hint of snark -- that "No proposals were specified that would generate that path."

So Mr. Ryan basically told the budget office to assume that his plan would slash the deficit, then claimed the resulting report as vindication of his deficit-slashing claims. Sorry, but that's the policy equivalent of sneaking into a marathon near the finish line, then claiming victory.

-- Krugman

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