Romney’s Rapidly Shrinking Running Mate
Romney’s rapidly shrinking running mate (via AFP)
From the moment Mitt Romney mistakenly introduced his running mate Paul Ryan to the world as “the next president of the United States,” one word has routinely described the pairing: awkward. Cringe-worthy as that highly anticipated launch was in Virginia in early August, the Republican ticket has since…
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Talk about a rapidly shrinking running mate, today on Fox News Sunday — of all Ryan-friendly shows — Ryan truly shrunk almost into oblivion.
When host Chris Wallace gave Ryan an opportunity to finally talk about the details of his tax plan by repeatedly asking him for details, Ryan finally said:
‘No, but you…well, I don’t have the time. It would take me too long to go through all of the math…”
Mr. Ryan, we the American people have the time to listen to you. Could it perhaps be that you don’t have a plan?
Of course he has a plan, Dorian. It’s just a very, very bad one. Ryan’s plan depends on one thing above all else. The efficacy of trickle down economics and the ability of tax cuts for the wealthy to actually increase government revenues. Since neither of these things will work and never have it leaves him in a bit of a bind as he tries to defend GOP religious dogma as having some relation to the facts.
The cruel irony is that federal debt does not have to be paid ‘back’. T-bills are simply an accounting means for the Federal Reserve. T-bills are savings accounts and Reserve Accounts are checking accounts. In point of fact, when the federal government runs a surplus the pundits and wonks start complaining about the ‘shrinking’ public savings level. Well, yeah! If the government takes in more money than it spends, that money has to come from somewhere!!
Ryan’s plan is based on a false premise: that we have a limited supply of money.
Reality: although inflation can occur if the government is too incautious during lean times about increasing the money supply, such a hyper-inflation event is extraordinarily unlikely given the Federal Reserve’s aversion to any kind of inflation above 3%. They would shut down the recovery immediately if the inflation level got too high.
Reality: the federal government spends money into existence and taxes it out of existence. All else is bullshit!
Hmmm, to me, the Ryan pick wasn’t about picking up new voters but about solidifying the base while Romney moved to the center to get new voters. Of course, a little YouTube video blew that plan all to hell…