Happy Rainbow Unicorns and the Ryan Budget

My daughter is 8 years old, and even though we have never celebrated Christmas she tells me that she believes in Santa. I think she is teasing me. I hope she is teasing me. My other children know I love to tease. It seems only fair that I get teased back. 

But even my daughter does not believe in happy rainbow unicorns. Looking over Congressman Ryan's proposed budget I have to conclude that he believes in happy rainbow unicorns. Republican president nominee Romney (I speak only slightly prematurely as it is Romney's turn) has worked closely with Ryan. This is his budget now. I guess Romney believes in happy rainbow unicorns too—or is willing to pretend he does until election day. 

I am supposed to take heart from the fact that Obama's budget believes in flying happy rainbow unicorns—but I just get depressed. There are no cuts. The economic assumptions are absurd. Obama's projection is that spending will increase 5% yearly over the next 10 years. Ryan is proposing that the spending will grow 4% over the next ten years. Neither approach can be sustained.

You don't believe me that the Ryan budget had few cuts? Look at this chart shamelessly stolen from Veronique de Rugy at National Review's The Corner. 

 

Yes he does cut a little here and there, mostly from abolishing ObamaCare.  But actually, in toto, the Ryan budget has no cuts. Spending just grows slightly more slowly.  

I was hoping for a Romney Unicorn picture too. He deserves one just as much as Obama. Ryan has promised a tax cut. But due to the way the Congressional Budget Office calculates things this is actually a 2 trillion dollar tax increase as a 4 trillion dollar tax increase is already baked into CBO's figure for the next ten years. Welcome to Republican Math. 

Obama's version of this is a 3 trillion dollar tax cut that is actually a 1 trillion dollar tax increase. Welcome to Democratic Math.

I would actually favor a rather large tax increase if spending could be cut in exchange. I must believe in happy rainbow unicorns too. 

Of course the immediate result was an outcry. Ryan is cruel to seniors. Ryan is cruel to the poor. Ryan favors the rich. Maybe all these things are true. Consider for a moment what will happen when investors realize that the whole federal budget is a house of cards that is crashing down. Bond sales will stop. Then either the budget gets cut 50% right then, or we print money and head toward hyperinflation. Large cuts now are better than draconian cuts later. 

In the interests of safety I have included this picture of Unicorn droppings for easy identification if it drops from the sky!If Ryan's modest cuts reduction in spending increases result in this much outrage, will the streets be quiet when the real cuts come? 

My advice to you is that you get out your shovel. To paraphrase a recent Rick Santorum rant, this is unicorn ****. There is going to be a lot of manure to clean up. Be Careful! Obama's unicorns fly.  

Comments

[eric anderson]

I don't know whether to buy gold, or just find a big rock to hide under. For today, I think I will just curl into a fetal position and moan quietly.

[Eddie H. Nessul]

Those ARE NOT Unicorn droppings!

Those are eggs from the "Horta" on the mining planet K6 from the old Star Trek series.

You thus have lost ALL credibility with me.

Eddie H. Nessul
Amboy, California
(Read Names Backwards!)