Krugman, the Nobel Prize-winning economist and New York Times columnist wrote in a Tuesday blog post that the congressman’s newest budget proposal is much like the last one, except worse -- slashing government spending in the name of budget tightening, while actually hurting the nation’s most vulnerable in the process.
“Nothing has changed, except that the plan has gotten even crueler,” Krugman wrote.
The House Budget Committee chairman's newest plan calls for balancing the budget over the next 10 years by repealing Obamacare and making cuts to social safety net programs like Medicare and Medicaid.
Andrew Fieldhouse, an analyst at the Economic Policy Institute, a progressive think tank, estimates that the plan would cost the country 2 million jobs in 2014 alone.
The former Republican Vice Presidential nominee is no stranger to Krugman's criticism. When Ryan was first gaining recognition in 2010 for his laser focus on slashing spending and balancing the budget, Krugman referred to his proposal as “a fraud.” And the economist-slash-pundit didn’t have kinder words for last year’s version of Ryan’s budget plan either, calling it “a fake document” and “just a fantasy.”
Original Article
Source: huffingtonpost.com
Author: Paul Krugman
No comments:
Post a Comment