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Paul Ryan: Obama's Second Term Agenda Is "More of the Same with a Debt Crisis"

4:44 PM, Oct 25, 2012 • By JOHN MCCORMACK
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Campaigning in Virginia today, Paul Ryan mocked the pamphlet Obama released this week on his second-term agenda. NBC's Alex Moe reports:

"Just a couple of days ago he came up with a slick new brochure, you know, with less than two weeks left to say, 'Oh I do actually have an agenda,'" Ryan said. "It is a slick -- well, comic book -- that was his word," acknowledging a man in the crowd. "To me, a slick re-packaging of more of the same. And look at what it has gotten us. You see, where we are today is our economy is barely limping along. It is slower than it was last year, last year was slower than the year before."

“The worst thing that could happen, president Obama gets reelected and we have more of the same with a debt crisis. The second worst thing that could happen is we get elected by default without a mandate. This is why we’re asking you to give us the moral authority and the obligation to honor you by putting this agenda in place to get America back on the right track,” Ryan said outside Universal Fibers in Southwest Virginia.

Obama says he has a "balanced" $4 trillion deficit reduction plan, but that claim has been debunked by budget experts:

The plan that Obama was talking about is designed to reduce deficits by $1.7 trillion, not $4 trillion. It was defeated 97-0 in the Senate and 414-0 in the House of Representatives. It's a plan that, even if it were to pass miraculously, is "unsustainable" in the long-term, as Obama's own Treasury secretary has acknowledged. It's a plan that doesn't have the support of anybody but Obama, which is to say it's really not a plan at all.

Erskine Bowles, Bill Clinton's former chief of staff and co-chair Obama's debt commission, has said Obama's budget simply isn't serious: "The President came out with his own plan and the President came out, as you will remember, with a budget and I don’t think anyone took that budget very seriously. Um, the Senate voted against it 97 to nothing."

Obama officials have been unable to defend the math behind the president's budget when questioned by reporters.

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