Wednesday, July 13, 2011

The Ryan Plan Has Been Replaced by Phantom Plan

link here to article

The Ryan plan is dead but Ryan lives. The latest GOP fund raising letter features Ryan who tells us that the GOP has a plan to keep the government solvent but the plan is not included in the letter. That is because the electorate likes Medicare and Medicaid and the Democrats have turned the Ryan plan into a weapon against the GOP. I guess the market has spoken but the GOP will not give up on their campaign to reduce the debt. They are relying on a plan to do so that does not exist at the moment. It will be hard for them to come up with another plan that enables them to cut taxes by $3.9 trillion and pay for it by cutting Medicare and assuming that unemployment will fall to below 4%. They are probably better off with an undefined plan that is harder to attack.

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