Sep 21, 2012

In Washington Paul Ryan Is Considered a Serious Thinker

The Philosophy Prince: How Paul Ryan
convinced Washington of his genius

- by Alec MacGillis
"Let me not be alone in the back of the crowd," wrote Richard W. Rahn, the U.S. Chamber of Commerce's chief economist, on the Wall Street Journal editorial page, "as I tip my hat to my longtime colleagues on the economic barricades: Thank you, Mr. Gilder, Mr. Kemp, Me Laffer, Mr, Mundell, Mr. Roberts, Mr. Ture, Mr. Wanniski and all the others who helped invent this economic miracle."

One week later the country in the great crash of 1987 "'came within an hour' of the disintegration of the stock market," as noted by Felix Rohatyn, a partner of Lazard Freres and Company. (Johnson. Sleepwalking Through History, America in the Reagan Years; W.W. Norton Company, 1991. p. 381)

The massive deregulation advocated by the likes of Jude Wanniski and George Gilder led directly to the crash of 1987.

Another round of deregulation begun a decade later and accelerated by George W. Bush led to the crash of 2008 and the worst recession since the Great Depression.

Today, Congressman Paul Ryan (who has spent his entire adult career insulated in Washington) and Mitt Romney (a leverage buy-out artist) advocate still more deregulation.

They appear not to have learned anything from recent history and the last 90 years of macroeconomics, or at least nothing can pierce their extremist ideology.

Early in his career as a congressional aide, "[Paul Ryan] nagged Cesar Conda, now Marco Rubio’s chief of staff and a Ryan admirer, so often with questions about supply-side economics that Conda lent him two books to keep him busy—Jude Wanniski’s The Way the World Works and George Gilder’s Wealth and Poverty, both foundational tracts for trickle-down Reaganomics," reports Alec MacGillis in the current issue of The New Republic.

Ryan of course is the same creature of Washington who called for ending Social Security in a speech to fans of Ayn Rand, another rightwing whack the coddled Ryan champions and whom Ryan has said is "the reason I got involved in public service."

Ryan and Romney are "preaching the same empty conservative sermon" that has brought us disaster before and will again if we elect these two phonies, as noted by David A. Stockman, who was the director of the Office of Management and Budget under Ronald Reagan from 1981 to 1985.   End Social Security, Medicare, Medicaid, increase defense spending, attack Iran, lower taxes on the one percent and in the words of Richard W. Rahn, we can expect another "economic miracle."

This career Washington ideologue and leverage buy-out artist are the perfect front-men for today's GOP and Tea Party—deluded, dangerous and ahistorical.

The fact the Romney was caught on tape saying he doesn't care about working people is a lucky break.

As for Congressman Ryan, his insular background and hostility to social insurance will out to a wide audience as the campaign nears a 45-day sprint to election day as Congress maintains its 11 percent approval rating and the GOP ticket appears in free fall.

Even Scott Walker is running from it.

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