Paul Ryan's long con
He betrayed his promises and left a legacy of debt and disappointment.
House Speaker Paul Ryans legacy can be summed up in just one number: $343 billion.
Thats the increase between the deficit for fiscal year 2015 and fiscal year 2018 that is, the difference between the fiscal year before Ryan became speaker of the House and the fiscal year in which he retired.
If the economy had fallen into recession between 2015 and 2018, Ryans record would be understandable. But it didnt. In fact, growth quickened and the labor market tightened which means deficits shouldve fallen. Indeed, thats exactly what happened in each of the five years preceding Ryans speakership; from 2011 to 2015, annual deficits fell each year.
As he prepares to leave office, Ryan says that debt reduction is one of those things I wish we could have gotten done. Ryan, the man with the single most power over the federal budget in recent years, sounds like a bystander, as if he watched laws happen rather than made them happen.
To understand the irony and duplicity of that statement, you need to understand Ryans career. After the profligacy of the George W. Bush years and the rise of the Tea Party, Ryan rocketed to the top ranks of his party by warning that mounting deficits under President Obama threatened the most predictable economic crisis we have ever had in this country. Absent the fiscal responsibility that would accompany Republican rule, we were facing nothing less than the end of the American dream.
Ryans reputation was built on the back of his budgets: draconian documents that gutted social spending, privatized Medicare, and showed the Republican Party had embraced the kinds of hard fiscal choices that Bush had sloughed off. And Ryan presented himself as the wonkish apostle of this new GOP, rolling up his sleeves and running through the charts, graphs, and tables that made his case.
https://www.vox.com/policy-and-politics/2018/12/10/17929460/paul-ryan-speaker-retiring-debt-deficits-trump