Paul Ryan’s bold, courageous, grown-up, responsible, adult, serious budget plan is mostly based on bullsh!t. 4% unemployment in 2015? Puh-leeeese! Ryan claims to “save” $1.4 trillion over a decade by repealing the Access to Care Act; but CBO scored the Act as saving $230 billion over that period. And $1.8 trillion – more than the entire net reduction in the deficit, once Ryan has finished with his tax giveaways for the rich – comes from unspecified cuts. The Magic Asterisk flies again!
If folks like the Pete Peterson Foundation want to be taken seriously as proponents of fiscal responsibility, they can’t treat Ryan’s proposal as anything but a joke.
Update Paul Krugman has more details. As commenter Benny Lava notes, unemployement is supposed to be below 3% in 2021. Is there a Pulitzer for bamboozlement?