Paul Ryan’s ‘budget’ plan: good politics, maybe; bad policy, definitely

Martin Wolf’s evisceration of Paul Ryan’s ‘plan for America’.

Representative Paul Ryan, Mitt Romney’s new vice-presidential running mate, is, we are told, the man with the deficit-cutting plan. Not for this conservative policy wonk are the phoney figures and evasions of cowardly politicians. He is a man whose integrity his opponents have to respect. Yet this story has one drawback: it is false. Do not take just my word for it. This is what David Stockman, director of the Office of Management and Budget under Ronald Reagan and a true conservative, wrote in the New York Times on August 13: “Mr Ryan’s plan is devoid of credible math or hard policy choices.” This is right, with one exception: Medicare. On that, Mr Ryan does offer a hard choice. But the maths are incredible.