Posted by AzBlueMeanie:
Nobel Prize winning economist and New York Times columnist Paul Krugman has frequently dismissed Rep. Paul Ryan as The Flimflam Man over the years. Ryan is an "unserious" person whom the D.C. media villager "centrist" concern trolls, who consider themselves "very serious people," have bestowed "very serious person" status on him.
As Krugman stated in a recent blog post, Romney/Ryan: The Real Target:
[A] a large part of the commentariat decided early on that they were going to cast Ryan in the role of Serious Honest Conservative, and have been very unwilling to reconsider that casting call in the light of evidence.
So that’s the constituency Romney is targeting: not a large segment of the electorate, but a few hundred at most editors, reporters, programmers, and pundits. His hope is that Ryan’s unjustified reputation for honest wonkery will transfer to the ticket as a whole.
So, a memo to the news media: you have now become players in this campaign, not just reporters. Mitt Romney isn’t seeking a debate on the issues; on the contrary, he’s betting that your gullibility and vanity will let him avoid a debate on the issues, including the issue of his own fitness for the presidency.
May the saints preserve us from the self-important D.C. media villager "centrist" concern trolls who consider themselves "very serious people."
In today's column, Paul Krugman takes to correcting this D.C. media villager bias and defining Rep. Paul Ryan as An Unserious Man:
Mitt Romney’s choice of Paul Ryan as his running mate led to a wave of pundit accolades. Now, declared writer after writer, we’re going to have a real debate about the nation’s fiscal future. This was predictable: never mind the Tea Party, Mr. Ryan’s true constituency is the commentariat, which years ago decided that he was the Honest, Serious Conservative, whose proposals deserve respect even if you don’t like him.
But he isn’t and they don’t. Ryanomics is and always has been a con game, although to be fair, it has become even more of a con since Mr. Ryan joined the ticket.
Let’s talk about what’s actually in the Ryan plan, and let’s distinguish in particular between actual, specific policy proposals and unsupported assertions. To focus things a bit more, let’s talk — as most budget discussions do — about what’s supposed to happen over the next 10 years.
On the tax side, Mr. Ryan proposes big cuts in tax rates on top income brackets and corporations. He has tried to dodge the normal process in which tax proposals are “scored” by independent auditors, but the nonpartisan Tax Policy Center has done the math, and the revenue loss from these cuts comes to $4.3 trillion over the next decade.
On the spending side, Mr. Ryan proposes huge cuts in Medicaid, turning it over to the states while sharply reducing funding relative to projections under current policy. That saves around $800 billion. He proposes similar harsh cuts in food stamps, saving a further $130 billion or so, plus a grab-bag of other cuts, such as reduced aid to college students. Let’s be generous and say that all these cuts would save $1 trillion.
On top of this, Mr. Ryan includes the $716 billion in Medicare savings that are part of Obamacare, even though he wants to scrap everything else in that act. Despite this, Mr. Ryan has now joined Mr. Romney in denouncing President Obama for “cutting Medicare”; more on that in a minute.
So if we add up Mr. Ryan’s specific proposals, we have $4.3 trillion in tax cuts, partially offset by around $1.7 trillion in spending cuts — with the tax cuts, surprise, disproportionately benefiting the top 1 percent, while the spending cuts would primarily come at the expense of low-income families. Over all, the effect would be to increase the deficit by around two and a half trillion dollars.
Yet Mr. Ryan claims to be a deficit hawk. What’s the basis for that claim?
Well, he says that he would offset his tax cuts by “base broadening,” eliminating enough tax deductions to make up the lost revenue. Which deductions would he eliminate? He refuses to say — and realistically, revenue gain on the scale he claims would be virtually impossible.
At the same time, he asserts that he would make huge further cuts in spending. What would he cut? He refuses to say.
What Mr. Ryan actually offers, then, are specific proposals that would sharply increase the deficit, plus an assertion that he has secret tax and spending plans that he refuses to share with us, but which will turn his overall plan into deficit reduction.
If this sounds like a joke, that’s because it is. Yet Mr. Ryan’s “plan” has been treated with great respect in Washington. He even received an award for fiscal responsibility from three of the leading deficit-scold pressure groups. What’s going on?
The answer, basically, is a triumph of style over substance. Over the longer term, the Ryan plan would end Medicare as we know it — and in Washington, “fiscal responsibility” is often equated with willingness to slash Medicare and Social Security, even if the purported savings would be used to cut taxes on the rich rather than to reduce deficits. Also, self-proclaimed centrists are always looking for conservatives they can praise to showcase their centrism, and Mr. Ryan has skillfully played into that weakness, talking a good game even if his numbers don’t add up.
The question now is whether Mr. Ryan’s undeserved reputation for honesty and fiscal responsibility can survive his participation in a deeply dishonest and irresponsible presidential campaign.
* * *
So will the choice of Mr. Ryan mean a serious campaign? No, because Mr. Ryan isn’t a serious man — he just plays one on TV.
Paul Krugman's opinion today is an expansion upon some earlier blog posts while he was on a working vacation in Europe: