The Hill News

The conventional wisdom about the radical budget plan of House Budget Committee Chairman Paul Ryan (R-WI) is that, while one might disagree with some of its specifics, he deserves credit for making the tough choices needed to address the nation’s long-term deficits. 

The conventional wisdom is false. 

In reality, the Ryan plan fails to achieve its advertised goal of fiscal responsibility â€" despite massive program cuts that include eliminating traditional Medicare and partially privatizing Social Security â€" because of the enormous tax cuts it would bestow on the nation’s wealthiest households. Federal debt under the plan would rise over the next several decades to unsustainable levels far in excess of the size of the nation’s economy.

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