Business Insider: This Is The Most Laughable Aspect Of Paul Ryan's Budget Plan

Business Insider ^ | 04/05/2011 | Joe Weisenthal

[SeekAndFind]

The Paul Ryan deficit-elimination plan assumes that unemployment will drop to 2.8% by the year 2028.

As Paul Krugman points out, the only time we've been at this level was briefly, during the Korean War. Even during the crazy .com, unemployment barely broke below 4%.

Seriously, if Obama announced a plan with something like that, he'd be mocked left and right.

And again, via Krugman, the Heritage Foundation table pointing out the number. You can see the 2.8% estimate in the very bottom right hand.

[calcowgirl]

Paul Krugman is a farce from the gitgo.

That may be true (although the word "farce" didn't come to mind).

Regardless, Ryan's "plan" is still a POS.

[SeekAndFind]

RE: I take that as an admission that Eisenhower was one of the greatest Presidents of the 20th Century.

---

Let’s be realistic and admit that the world was recovering from World War II and America was probably the only country with the industrial capability to supply what the world needed.

Plus, we had practically NO SERIOUS COMPETITION then. Germany, Japan, and China were all devastated and rebuilding ( China was communist ).

[SeekAndFind]

RE: It is important to post articles with opposing viewpoints. Posting isn’t endorsing.

Thanks for defending what I do. Couldn’t have said it better myself... :)

[SeekAndFind]

RE: Regardless, Ryan’s “plan” is still a POS.

OK, tell us why instead of just simply making a vague statement that shows essentially nothing.

[griswold3]

it’s gonna be easy!
In the past 2 years we’ve lost 8 million from the ‘participation’ numbers,
*(http://data.bls.gov/pdq/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS12300000)
thus the 8.8% unemployment number.
if that keeps up, 2.8% is possible!

*(64.9m to 58.5m PLUS 4+million entering workforce)

[Reagan69]

<<< Deport all illegals and force the welfare class to work for food.?>>>

DING DING DING .... WE HAVE A WINNER !

[Palter]

I didn't know he was using bubble type unemployment numbers to help in his projections. Unreal.

[kabar]

Have you read the plan? This is not the “Road Map.” Provide some specifics. Spouting generalizations without any substance makes you sound like a liberal.

[richardtavor]

The thing that jumps out of this chart is that the two highest unemployment numbers were during carter and obama.

[hosepipe]

DEFUND the HIVE...
The collective is toxic..

[kabar]

Actually, the unemployment figure peaked under Reagan.

[richardtavor]

I’ll refute him—he’s an idiot. You can’t print your way to prosperity (Check with Germany (30’s), Argentina, etc..

[ModelBreaker]

“The Paul Ryan deficit-elimination plan assumes that unemployment will drop to 2.8% by the year 2028.”

In all fairness, that’s not what the table says. The table is entitled “How the budget resolution would affect economic indicators.”

That said, I cannot tell if revenue assumptions feed back the optimistic unemployment numbers into the model. It was probably not a good idea to publish such unrealistic numbers. I suspect someone didn’t do a good job proofreading. Noone caught such an obvious mistake.

The other obvious problem is the 5.2% number in 2021 without the budget resolution. Does anyone think we will be at such a low unemployment rate if we continue with 1.5 trillion dollar deficits for ten years. Something will break if we do and the result will be much higher unemployment.

[denydenydeny]

a.k.a. Democrat Party Insider.

[Emperor Palpatine]

Krugman is a moron.

[org.whodat]

Bull crap, there is a seller on ebay that has cases of grape cool aide you may be interested in.

[listenhillary]

I think your plan rocks. You should share it with the others on this thread. It’s the best I’ve heard.

Your nickname evokes interesting mental images and intemperate thoughts. I hope you are a gal.

[Nahanni]

Business Insider is to economic news what HuffPo and Kos are to national and international news.

Not credible.

[freeandfreezing]

Of course when you read the actual report and table it shows a projection of 2% less unemployment as a result of the Ryan budget proposals as opposed to simply continuing the status quo. The 2.8% number results from the 2% improvement over the Congressional Budget Office's projection of a 5.2% unemployment rate.

Whether there is any solid basis for either projection is unclear, but I imagine just about anybody but Krugman would conclude that reducing tax rates, deficits, and government spending would lead to improved economic conditions relative to a continuation of the current administration's policies.

The bigger question is what basis does the CBO have for projecting an unemployment rate of 5.3% in 2016.

[Hawk1976]

So we shouldn’t undertake any large scale construction or make capital investments then, huh?

Of course projections can be made. Not everything is knowable but decent estimations regarding the macroeconomic growth can be made, and that is what is important. Congressman Ryan does not have to be right in every specific, the major ones will suffice.

I am convinced his reccomendations are correct.