Too Much Debt Talk from Paul Ryan
Senior Editor, CNBC.com
My worst fears about Paul Ryan were borne out in Wednesday night's speech.
Ryan's speech was too focused on debt reduction. He vindicated his reputation as a deficit hawk and called President Obama out for criticizing Bush's deficits as "unpatriotic" — then racking up even larger ones over the last three years.
But he never once mentioned tax cuts.
This is deeply disappointing. ( Read more: Larry Kudlow's Take on Ryan's Speech )
While it is true that our government should spend less, it's all the more true that our government should tax less. Cutting taxes, even at the expense of a larger deficit, should be the priority for the Republican ticket. Yet last night we heard not a word of it.
( Read more: One Business Republicans Hate: Porn )
Our economy is limping along because the American people desperately need to reduce their household budget deficits. A sizable tax cut would put more money to work to help families reduce their debt burdens. So why isn't Ryan talking about tax cuts? ( Read more: GOP Platform May Dilute Romney’s Focus on Economy )
I hope the answer is that Mitt Romney will come out swinging for tax cuts. I fear the answer is that Ryan's heart just isn't in it. At the core, he's a deficit hawk rather than a wise tax owl.
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