Center for American Progress: How the Ryan Budget Fails Our Economy by Failing Economics
ITEP Work in ActionWhen House Budget Committee Chairman Paul Ryan (R-WI) introduced his latest budget resolution, it predictably included harsh cuts to the vital programs for poor and middle-class Americans that are at the core of the progressive agenda.
But the House Republican budget is not just contrary to progressive values; it is also the wrong approach for our economic reality. Some of its economic flaws in logic are fundamental and basic; for example, the House Republican budget includes misunderstandings about supply and demand, focusing on the supply side of the economy despite the fact that our current economic problems are rooted in a lack of demand. It also ignores decades of empirical evidence on the effects of upper-income tax rates on economic growth and inequality.