Taibbi on Ryan’s Austerity Plan

Matt Taibbi:

We are in the middle of a major national disagreement over budget priorities, and that debate is going to turn into a full-scale cultural shooting war once the 2012 presidential election season comes around. It is obvious that we have a debt problem in this country and that something needs to be done about it. But a huge part of the blame for the confusion and the national angst over our budget issues has to be laid at the feet of media assholes like Brooks, who continually misrepresent what is actually happening with national spending.

The last ten years or so have seen the government send massive amounts of money to people in the top tax brackets, mainly through two methods: huge tax cuts, and financial bailouts. The government has spent trillions of our national treasure bailing out Wall Street, which has resulted directly in enormous, record profit numbers – nearly $100 billion in the last three years (and that doesn’t even count the tens of billions more in inflated compensation and bonuses that came more or less directly from government aid). Add to that the $700 billion or so the Obama tax cuts added to the national debt over the next two years, and we’re looking at a trillion dollars of lost revenue in just a few years.

You push a policy like that in the middle of a shaky economy, of course we’re going to have debt problems. But the issue is being presented as if the debt comes entirely from growth in entitlement spending. It’s bad enough that middle-class taxpayers have been forced in the last few years to subsidize the vacations and beach houses of the idiots who caused the financial crisis, and it’s doubly insulting that they’re now being blamed for the budget mess.

Amen. Taibbi also debunks the idea that Ryan is somehow courageous:

The absurd thing is that Ryan’s act isn’t even politically courageous. It’s canny calculation, but courage it is not. It would be courageous if Ryan were, say, the president of the United States, and leaning on that budget with his full might. But Ryan is proposing a budget he knows would have no chance of passing in the Senate. He is simply playing out a part, a non-candidate for the presidency pushing a rhetorical flank for an out-of-power party leading into a presidential campaign year. If the budget is a hit with the public, the 2012 Republican candidate can run on it. If it isn’t, the Republican candidate can triangulate Ryan’s ass back into the obscurity from whence it came, and be done with him.

No matter what, Ryan’s gambit, ultimately, is all about trying to get middle-class voters to swallow paying for tax cuts for rich people. It takes chutzpah to try such a thing, but having a lot of balls is not the same as having courage.

Right again.

One thought on “Taibbi on Ryan’s Austerity Plan

  1. Ryan’s gamble is all about raising his profile nationally to make himself into a viable “tea party” VP candidate for whomever the eventual GOP presidential nominee is. The budget Ryan has proposed is meant to endear him to the far right extremists in the Republican Party.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s