Via Philip Klein, stick with this until at least 2:45, when Ryan drops the national-suicide debt chart on him and TurboTax Tim notes that, hey, the numbers between Obama’s budget and Ryan’s are actually comparable — for the next five years or so. Quoth Klein: “[A]s Ryan pointed out, the Treasury Secretary, more than anybody, should recognize how problematic it would be for bond investors to lose faith in America’s finances. If they stop buying U.S. bonds, a crisis can hit much sooner than a chart would suggest. Furthermore, virtually every budget expert recognizes that the longer the nation waits to do address its problems, the more drastic the possible solutions have to become.”
Don’t you worry, though. Just as soon as this economy’s growing again, the haze of Keynesian deficit spending will lift and The One will transform, butterfly-like, into a warrior on entitlement spending. I can feel it. Until then, I’m off to sit in a dark room and drink myself into a coma.
RYAN: Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability. Our government is making promises to Americans that it has no way of accounting for. And so you’re saying, yeah, we’re stabilizing it but we’re not fixing it in the long run. That means that we’re just going to keep lying to people. We’re going to keep all these empty promises going … You’re showing that you have no plan to get this debt under control. You’re saying we’ll stabilize it but then it’s just going to shoot back up. And so my argument is, that’s Europe. That is bringing us toward a European debt crisis.
GEITHNER: What our budget does is get our deficits down to a sustainable path over the budget window. Why do they take off again? Why do they do that?
RYAN: Because we got 10,000 people retiring every day, and healthcare costs going up…
GEITHNER: That’s right. We have millions of Americans retiring every day, and that will drive substantially the rate of growth of healthcare costs. You are right to say we’re not coming before you today to say we have a definitive solution to that long-term problem. What we do know is, we don’t like yours.
GEITHNER is suppose to know what to answer to RYAN, he look like he has no clue at all, or he join the false speech of OBAMA and the Democrats, imagine those guys are in charge of the taxpayers money,
they are representing what they are not in their actions and excuses,
what a mess, and NOVEMBER IS STILL FAR ENOUGH FOR THEM TO MESS UP MORE