Martin Wolf, in last weekend’s FT, examined Paul Ryan’s budget proposal. He concludes with four terse sentences:
Over the next decade, the Ryan plan is inadequate and incomplete. Over the long run, it is incredible. It may be good politics. It is bad policy.
Martin Wolf, “Paul Ryan’s plan for America is not credible“, Financial Times, 18 August 2012.
News for me was that Paul Ryan, despite his reputation, does not even pretend to be a fiscal conservative. “Even if one did believe in Mr Ryan’s plans, federal debt would rise by $6tn over the next decade alone.” This is an excellent column, up to Martin’s high standards and well worth reading. I didn’t report it earlier because I read it while I was at a cottage with limited internet connectivity.