Wednesday, January 13, 2016

Ryan confused? Accuses Obama of...Trickle Down Economics?

Paul Ryan just admitted that trickle down economics is bad, which is honest and good.

I thought it was surreal enough when I heard Ryan whine on and on about wage stagnation, when he's done everything he can to make it worse. But now in a fevered moment of projection, he's blaming Obama for the GOP's radical trickle down agenda. Stunningly, he's saying trickle down is bad, and giving it Obama face:
It's "Trickle Down" Obama! 
A reporter asked Ryan if he believes the president “deserves any credit at all” for economic improvements. The Republican Speaker responded, “I think the Federal Reserve has done more. And by the way, I think the Federal Reserve has given us, in combination with Obama policies, more regulations, higher taxes, more uncertainty; has given us trickle-down economics.”
Sounds really bad...for Ryan and the Republicans. 

But this isn't the first time Ryan has tried to do the old "switcheroo," taking the worst of the Republican Party, and making seem really Democratic. Remember Obama's push for "crony capitalism?" I know, I missed that too:
President Barack Obama’s most recent tax overhaul for corporations is just “crony capitalism,” Rep. Paul Ryan says. “It’s a raw deal and I think it’s more crony capitalism. The president likes to pick winners and losers. He lets some businesses off the hook…”
Sorry, that didn't make any sense. Thomas Frank's wrote this about Ryan's pretzel logic:
Government, in Mr. Ryan's view, is alternately the tool and the terror of big business, doing one firm's bidding as it crushes another one. The solution is to get government out of the game altogether ... the tail-chasing logic behind the "down with big business" rhetoric. 
MSNBC's Steve Benen also noticed how Ryan now suddenly and conveniently appreciates the Federal Reserve:
What is important is that Ryan’s explanation is gibberish. Consider the Speaker’s argument broken down into its component parts:
1. Paul Ryan opposes the Fed’s recent monetary policies.2. Paul Ryan believes the Fed’s recent monetary policies are bad for the economy.3. Asked about positive economic developments, Paul Ryan credits the policies he doesn’t support.
About a year ago, Paul Krugman described Ryan’s understanding of monetary policy as “craziness.” The assessment continues to be fair.
Benen rightfully concludes...
Paul Ryan doesn’t get to complain about trickle-down economics; Paul Ryan is a champion of trickle-down economics.

No comments: