BusinessBusiness

Paul Ryan's Scariest Idea

Paul Ryan's Scariest Idea
Maxwell Strachan
By 

Senior Reporter, HuffPost

FILE - In this April 13, 2011 file photo, Republican Vice Presidential candidate, House Budget Committee Chairman Paul Ryan, R-Wis., takes questions in reaction to President Obama's speech on a federal spending plan, during a news conference at the Capitol in Washington. Paul Ryan traveled a perilous route to political stardom. While other lawmakers nervously whistled past trillion-dollar deficits, fearing to cut popular programs, he waded in with a machete and a smile. Ryan wants to slice away at Medicare, Social Security, food stamps and virtually every other government program but the military. (AP Photo/J. Scott Applewhite, File)
FILE - In this April 13, 2011 file photo, Republican Vice Presidential candidate, House Budget Committee Chairman Paul Ryan, R-Wis., takes questions in reaction to President Obama's speech on a federal spending plan, during a news conference at the Capitol in Washington. Paul Ryan traveled a perilous route to political stardom. While other lawmakers nervously whistled past trillion-dollar deficits, fearing to cut popular programs, he waded in with a machete and a smile. Ryan wants to slice away at Medicare, Social Security, food stamps and virtually every other government program but the military. (AP Photo/J. Scott Applewhite, File)

Paul Ryan is worried about the Federal Reserve. He is worried the Federal Reserve will try to bring unemployment down. There's a word for this. I can't print it, because this is a family publication.

For the past four years, Ryan has repeatedly warned about the real menace threatening the economy: inflation. Forget that long-term unemployment has surged to levels not seen since the Great Depression, and prices have barely risen -- Ryan is scared of the inflation monster under his bed, and thinks you should be too. He thinks that trying to bring down unemployment will unleash the inflation monster -- and that's why he wrote an op-ed in the Wall Street Journal back in May of 2008 calling on Congress to revoke the Fed's dual mandate to target both low inflation and low unemployment. He wants the Fed to only worry about the former and not the latter.

Read more on The Atlantic

Related

Business
|
Submit a tip

Popular in the Community

Close

What's Hot