So Paul Ryan announced his plan to balance the budget, cut trillions from proposed spending, and put America on a path to paying off the deficit. Republicans around the country are hailing it as the second coming of Ronald Reagan, and Democrats continue to call any reasonable idea extreme.
Me? I am not at all excited.
Let me explain. Paul Ryan’s proposal continues to run a deficit for the next 26 years. That means that even if the plan was adopted as is, and we know it won’t be, the best we can possibly hope for is a deficit that continues to swell for 26 more years before the first dollar is paid off.
Add to this that his projections also rely on unemployment reaching 3%, and you can quickly see that the the whole thing is just not that realistic.
I am glad that Representative Ryan has taken some leadership where there has been none, and I do not want to beat up on the guy, but this plan just isn’t enough. It is time to get real. And it is time to make some really tough choices.
We shouldn’t be looking at 26 years of additional deficits as the best we can do.