Conservative Economists Criticize ‘Off The Deep End’ Republican Budget

This crazy budget proposal from Paul Ryan and the GOP is already in serious trouble.  It both cuts Medicare and Taxes for the Rich while increasing Defense spending.  That’s just crazy….

Now some of the old line Conservatives are coming out in agreement that it’s not a serious, much less “courageous” proposal….

I’m hoping this is another example of smoke and mirrors where the smoke is starting to clear, the mirror’s are breaking and Toto has pulled back the curtain to reveal the Koch Brothers and their fellow wealthy friends, who now own the GOP, are the wizards behind the curtain….


“It doesn’t address in any serious or courageous way the issue of the near and medium-term deficit,” David Stockman told me in a Thursday phone interview. “I think the biggest problem is revenues. It is simply unrealistic to say that raising revenue isn’t part of the solution. It’s a measure of how far off the deep end Republicans have gone with this religious catechism about taxes.”

Stockman, who directed Ronald Reagan’s Office of Management and Budget, approves of Ryan’s entitlement proposals, but breaks faith over taxes and the GOP’s unwillingness to slash defense spending. And he laughs off the notion that the plan will do anything about unemployment, let alone dramatically reduce it, which Ryan and his plan claim it will. “This isn’t 1980. It’s not morning again in America. it’s late afternoon, or possibly even sunset.”

On this score, Doug Holtz-Eakin — a former McCain and George W. Bush economic adviser — told Huffington Post Ryan’s plan is “implausibly optimistic.”

The libertarian economist Tyler Cowen wrote up a point-by-point critique of the plan. His principle objections are that the plan doesn’t do anything to control health care costs, and cutting Medicaid is neither good policy, nor urgent. Indeed, he notes, “Medicaid should be one of the last parts of the health care budget to cut.” Emphasis in the original.

via Conservative Economists Criticize ‘Off The Deep End’ Republican Budget | TPMDC.

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