Zeer lezenswaardige column van de rechtse blogger Erick Erickson op RedState waarin hij het begrotingsplan van de Republikeinse kandidaat voor het vicepresidentschap Paul Ryan kritiseert, omdat het jaren de tijd neemt om de begroting in evenwicht te brengen. En toch schreeuwen de Democraten moord en brand.
Despite the rhetoric from spending addicts on the left, Paul Ryan’s plan is not the radical path conservatives would prefer. The plan does not balance the federal budget for three decades and is premised on the assumption that future congresses will show restraint. Three decades is an extraordinarily long time, but the plan does eventually balance, which is something the President’s own budget never does.
The Democrats will demagogue Paul Ryan’s budget plan. They already have run commercials showing a Paul Ryan look alike shoving a grandmother off a cliff. The hysteria ignores that under Paul Ryan’s plan senior citizens will not see their medicare benefits affected.
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Foto: Gage Skidmore
Peter Schiff over de bezuinigingsplannen van Paul Ryan
Het is allemaal wat aan de optimistische kant.
"Because there are no actual cuts in his budget, Ryan hopes that fiscal balance can be restored by 2040 only because he assumes that we achieve returns to the annual economic growth that are equal to levels averaged for much of the last century. In other words, he sees slow growth of the last four years as the aberration, not the new normal. "
"In fact, among his other overly-optimistic assumptions are that the unemployment rate falls to 4% by 2015 and an unprecedented 2.8% by 2021, another real estate boom begins almost immediately, and there is an average inflation and ten-year treasury rate for the next ten years of 2.04 and 4.15 respectively. "
"Despite these pollyannish economic growth and record low unemployment projections, Ryan still assumes interest rates will remain near historic lows and that none of the cheap money showered onto the economy will ever find its way into the CPI."
http://lewrockwell.com/schiff/schiff175.html