US credit downgrade vindicates his draconian budget plan, Ryan says

On a Sunday morning Fox gasbag show, Rep. Paul Ryan said Standard & Poor's downgrade of U.S. credit was a "vindication" both of Republican actions in the tarted-up debt ceiling "crisis" and his own draconian budget plan.

Gee, it's a "vindication" that the debt ceiling crisis and its outcome -- manufactured entirely by Republicans and teabaggers -- has now led to a lower US credit rating? Can Ryan and other Republicans only be vindicated in their brinkmanship tactics when things get worse as a result? Well, yes, if you believe the GOP's only real interest is damaging the economy so that Obama becomes a one-termer and the Senate falls to the Republicans.

[And meanwhile, tea party noisemakers are busy celebrating the S&P downgrade. When the public and the facts aren't on your side, throw in with chaos.]

Ryan also blithely opined that Republicans and Democrats haven't been able to compromise on budget plans because Democrats simply won't go along with his plan to end Medicare and other entitlement programs as we know them. In short: "Surrender, Dorothy!" It's the old George W. Bush brand of compromise: you guys totally compromise your positions and agree to mine, and we'll call it bipartisan.

The latest Ryan miscreancy was ably summarized at David's Blog (highlighting is my own):

"I am not very surprised with the downgrade," Ryan told Fox News' Chris Wallace. "We more or less saw it coming because we are [on] the wrong fiscal path. We'll find out what spike in rates we are going to get. Obviously not only does it hurt the federal government and its ability to close deficits, but it hurts people. Car loans, home loans, all these things are going to go up. And so, it is because Washington has not gotten its fiscal house in order."

And to me, this is just more vindication of our actions. We passed a budget, which according to someone with S&P yesterday, would have prevented the downgrading from happening in the first place."

"Isn't that like a doctor saying, 'I did the operation perfectly but the patient died?'" Wallace wondered. "In its announcement, S&P condemned the political dysfunction here in Washington, the grid lock here in Washington... isn't the failure to compromise part of the problem?"

"Both political parties are responsible for the mess we have right," Ryan admitted. "This is not a Democrat or Republican problem only. Both parties got us to where we are. I would argue, though, in the last couple of years, we've gone deeply in the wrong direction."

"Yes, we haven't been able to get the kind of compromise because our partners on the other side of the aisles had been unwilling to reform the [entitlement] programs that the cause of the problem."

http://videocafe.crooksandliars.com/david/ryan-claims-downgrade-vindication-gop

Debt deal does not eliminate Bush tax cuts, Ryan tells Sean Hannity

Rep. Paul Ryan (R-WI) assured Sean Hannity of Fox News that the debt deal that passed the House will not increase taxes and WILL NOT eliminate the Bush tax cuts, which under current law will expire in 2013. That 2013 expiration remains unchanged. Rep. Ryan appears to be engaged in some semantic trickery -- but don't be surprised if the GOP finds a way by 2013 to keep the tax cuts in place, even if the new debt ceiling deal doesn't do it.

Be Sure To Answer Your Phone

After Boehner broke off negotiations on the debt ceiling, the DCCC decided to run robocalls in southeast Wisconsin mand in several other shaky districts with right-wing obstructionist Republicans facing tough reelection prospects next year. Here's the text:

“Hi, this is Travis calling on behalf of the DCCC. Congressman Paul Ryan and Speaker Boehner would rather our economy default just to protect tax breaks for Big Oil companies and billionaire jet-owners. Republicans quit negotiating with President Obama on raising the debt ceiling. 

“This is serious. Ryan’s billionaire buddies will be ok. But we will pay the price if government can’t pay its bills. Our Social Security and Medicare benefits are at risk. Interest rates would spike for our credit cards, car loans, and mortgages. Our 401(k) retirement accounts would drop. And, gas and food prices would skyrocket. 

“Enough is enough. Call Congressman Paul Ryan... and tell him not to gamble our future to protect tax breaks for Big Oil and billionaires.

If you'd like to make an impact on the race, please consider making a contribution to Rob Zerban at StopPaulRyan.

Ryan says it's OK for US to default on paying its bills

Rep. Paul Ryan, in a change of heart, says it's OK for the United States government to welsh on its bills for awhile. The official term is default. No big deal, Paulie says:

If a bondholder misses a payment for a day or two or three or four — what is more important is you are putting the government in a materially better position to better pay its bills going forward.

To put it into context, it may simply be a hard-line negotiating position being taken by more Republicans as we approach Aug. 2, the date on which Treasury Secretary Tim Geithner estimates the U.S. will begin to default on some obligations unless Congress agrees to raise the debt ceiling.

There could be all sorts of bad consequences for the economy if the ceiling isn't raised and default occurs -- Rep. John Boehner has said it would be irresponsible.

But the bottom line is that it is not in the GOP's best interests to have the economy improve. They did everything they could to stand in the way of stimulus programs and were repaid with electoral victory in 2010, so it's understandable why they might want to play chicken -- if they think they can avoid blame for what happens. And that's a big if.

In any event, Paul Ryan every day looks less like a white knight standing on principle and a lot more like the professional politician he is.

Think Progress has more.

Paul Ryan: Wall Street will be okay with debt default for a few days

Watch as Rep. Paul Ryan explains how Wall Street will be okay with the federal government defaulting on its debt for a few days if the debt ceiling isn't increased.


Cross-posted to Blogging Blue.