It's Time for Representative Ryan to Man Up

[Derechos]

By: Dean Baker Monday April 4, 2011

Congressman Paul Ryan is the new darling of both the Republican Party and the major media outlets. He has put forward bold plans for dismantling Medicare, Medicaid and Social Security. In Washington policy circles, this passes for courage. Congressman Ryan is prepared to tell tens of millions of workers that they can no longer count on a secure retirement and decent health care in their old age. In Washington policy circles, this passes for courage.

Outside of Washington, people have a different conception of bravery. After all, over the last three decades the policies crafted in Washington have led to the most massive upward redistribution in the history of the world. The richest 1 percent of the population has seen is share of national income increase by close to 10 percentage points. This comes to $1.5 trillion a year, or as Representative Ryan might say, $90 trillion over the next 75 years. That’s almost $300,000 for every man, woman and child in the United States.

This upward redistribution creates the real possibility that many of our children will be poorer than we are. If Representative Ryan and his followers really cared about future generations, then we might expect him to push for policies that reverse some of this upward redistribution.

For example, we could break up the large banks (e.g. Goldman Sachs and J.P. Morgan) that operate with implicit government protection. This allows them to borrow money at below market interest rates and undercut their smaller competitors. By my calculations, the size of this subsidy to the largest banks is close to $35 billion a year, almost half the size of the long-term Social Security shortfall that concerns Mr. Ryan so much. If Mr. Ryan could man up a little, maybe he would have the courage to tell the big Wall Street banks that they will have to compete in a free market without this subsidy from the government.

http://my.firedoglake.com/deanbaker/2011/04/04/its-time-for-representative-ryan-to-man-up/

[FSogol]

1. Potterville will now be known as Ryanville. Potter's Field will now be Ryan's Field.

:puke:

[Angry Dragon]

2. paul ryan hates women and children

he loves rich old white men