It appears that Buzzfeed's Andrew Kaczynski isn't the only one digging through C-SPAN's archives for old footage. Kudos to the crew at Up With Chris Hayes for this find which puts on full display Rep. Paul Ryan's complete hypocrisy when it comes to stimulus spending and whether it helps the economy. It appears Etch-A-Sketch Mittens has found himself the perfect running mate, since he's just like him when it comes to flip flopping.
Long before he became one of the right’s most vocal critics of the idea that government spending could help boost the flagging economy, Rep. Paul Ryan offered a forceful, full-throated defense of stimulus spending — when then-President George W. Bush wanted it in 2002.
Ryan has denounced the 2009 Recovery Act signed by President Obama as “a wasteful spending spree” and “failed neo-Keynesian experiment,” and – as The Huffington Post pointed out this morning — dismissed as “sugar-high economics” the idea that government spending, through measures like payroll tax cuts and unemployment benefits, can help shore up a faltering economy.
But in 2002, when then-President Bush was seeking a roughly $120 billion package of tax cuts, tax incentives for business and unemployment benefits to jump-start the economy, Ryan offered a vigorous defense of the plan. “What we're trying to accomplish today with the passage of this third stimulus package is to create jobs and help the unemployed,” Ryan said in video that aired today on Up w/ Chris Hayes. The remarks came during a House debate on the measure on Feb. 14, 2002.
Ryan’s comments reveal a strikingly different economic analysis than the one he has become known for in recent years as the “intellectual leader” of the Republican Party and, now, Mitt Romney’s running mate. In 2002, Ryan argued that unemployment would remain at elevated levels even after the economy began to recover, and that aggressive stimulus would be a necessary and effective antidote.
“What we're trying to accomplish here is the recognition of the fact that in recessions, unemployment lags on well after a recovery has taken place,” Ryan said at the time. “We have a lot of laid-off workers, and more layoffs are occurring. And we know, as a historical fact, that even if our economy begins to slowly recover, unemployment is going to linger on and on well after that recovery takes place.”
Ryan’s advocacy of stimulus spending wasn’t limited to Washington, either. When he returned home to face constituents, he used similar language to make the case for the Bush stimulus bill. “You have to spend a little to grow a little,” Ryan told constituents at a town hall in Wisconsin in January 2002, according to the Journal-Times, a local newspaper. “What we're trying to do is stimulate that part of the economy that's on its back." [...]