Martin Bashir | January 25, 2013
>>> it's time now to "clear the air." at a time when the stock market has reached a five-year high and unemployment a five-year low, it's worth reflecting on the fact that if congressman paul ryan 's plan had been implemented, then none of this would have happened. in fact, mr. ryan along with countless other republicans have all been banging the drum of austerity claiming that the only way to ensure economic recovery was not to increase, but to slash government spending . perhaps the only positive thing to emerge from the global financial crisis is that we've been able to track the policies and progress of other nations as they, too, have sought to recover over the last five years. some of those nations, like britain and spain, have applied the very policies that mr. ryan would have imposed on this country if he were in the white house alongside a president romney. and so how are those two great nations doing? well, it just so happens that we have some brand new statistics on both these countries. in spain youth unemployment has now reached a record level of 55%. and the overall jobless rate stands at 26%. that's the highest level since the end of general franco a's dictatorship, and as i say, the spanish applied the paul ryan playbook almost word for word, and it hasn't worked out so well. but how about britain ? surely the united kingdom must be making some progress. sadly not. the british government has just announced that its gdp has shrunk to 0.3% and economists now predict a triple dip recession right across the country. again, britain did precisely what paul ryan has been proposing for this country and with disastrous consequences. so are republicans now prepared to accept the evidence? is paul ryan ready to admit that ice.
>> da economics would never work in practice? sadly not. in fact, speaker john boehner has just given him the job of drawing up a new budget that will completely erase the federal deficit in just ten years. and only through spending cuts and no new taxes whatsoever. to do this mr. ryan would have to cut every government operation by one-sixth or if he choose not to touch entitlements or defense, he would have to cut every government operation by almost 40%. this country would be plunged into a recession. and that's the ryan budget.