I’m familiar with Paul Ryan, and simply speaking, his extreme advocacy for all things free market would make this current crisis look like an overdraft notice from your bank.
In a message to members of the conservative Republican Study Committee, leaders of the bloc of more than 100 lawmakers solicited ideas, calling for a “free-market alternative to the Treasury Department’s proposal so that, regardless of how individual R.S.C. members vote on final passage, House conservatives have something to be for.” House Republicans found the administration’s latest proposal to be too much to swallow.
By Thursday, a legislative alternative was circulating, one centered on federal
insurance for mortgage assets combined with tax cuts on investment gains. The plan was promoted by … a major fund-raiser and a rising star in the Republican ranks, and Representative Paul Ryan of Wisconsin, who is seen as one of the sharpest economic minds in the Republican conference.
Appearing on CNBC on Friday, Ryan said Republicans were acting in the interests of taxpayers, and they “understand the gravity of the situation.”
Republican John Gard, who is running against Democrat Rep. Steve Kagen of Appleton, began airing a television ad that criticized the Paulson plan. “You playby the rules and fall further behind, while they (Wall Street) break the rules, and Congress hands them your money,” Gard says in the commercial. “Washington’s got it wrong again.”