Congressman Paul Ryan’s Roadmap has suddenly become the focal point for debating how America should get its economic house in order. Fred Barnes of the Weekly Standard says to embrace it. Paul Krugman of the New York Times says to reject it. And all the pundits are predicting what the plan would do, including Krugman who says it “calls for steep cuts in both spending and taxes.” So how are you going to decide? I suggest that you read the plan.
It’s only 87 pages long--about the same length as a good book on the economic crisis--and there are some great charts.
I put together some charts to get started. In these charts I compare the Ryan Roadmap with the road America is currently on, according the CBO’s latest estimate of June 30, 2010. CBO calls the current road the Alternative Fiscal Scenario. Road to Ruin is a better description.
Continue reading John Taylor on his blog Economics One…
(photo credit: Joshua Delaughter)
