Up | August 19, 2012
>>> heard about this this week that republican vice presidential candidate paul ryan was forced to back pedal from a glaring bit of hypocrisy after it was revealed he sought millions of dollars in stimulus funds for his district despite publicly repeatedly denouncing the 2009 recovery act as a wastefulful spending spree. ryan has forcefully danced the underlying basic concept of keynesian economics the idea during a recession or depression the government can boost economic recovery through spending sometimes deficit spending . here he is in july of 2010 making just that argument.
>> too many are searching for answers in the discredited economic playbook of borrow and spend keynesian policies . i reject only government intervention in the government can secure this country's renewed prosperity. adherence to this premise has given us a damaging policy mixture. it has sparked government spending spree and borrowing binge. workers, taxpayers and families across this country have been guinea pigs . washington's economic experiment has failed.
>> so, no keynesian , borrow and spend, deficit spending to boost recovery and jobs during a period of an output gap when you're in a recession that's all bad but conceptually broken. as it turns out paul ryan 's request for millions of dollars in recovery spend is only the tip. iceberg when it comes to his hypocrisy on stimulus. we turned up video of ryan in we does far more than advocate for one specific stimulus item but makes a full throated no holds bar argument at length for the basic concept of keynesian stimulus, government spending to create jobs deficit government spending to create jobs. in 2002 with president bush in the white house as the couldn't went through the post-9/11 recession ryan made a powerful una p unapologetic case for business investment but also an extension of unemployment benefits and health insurance benefits. here's a look at some of that video from february 14th , 2002 where congressman congress argued that health insurance is necessary even after economic recovery begin.
>> what we're trying to accomplish today is to create jobs and help the unemployed. now i've just recently read in our local capitol hill newspaper that members from the majority party and the other body want stimulus. they are breaking with their party leadership and asking for stimulus legislation to pass because in their home states they have a lot of people who are losing their jobs. what we're trying to accomplish is to pass the kinds of legislation that they passed in the past have grown the economy and gotten people back to work. we want to make it easier for employers to keep people employed. we want to make it easier for employers to invest in their business, to invest in their employees and to hire people back to work. on top of it for those people that lost their jobs we want to help them with their unemployment insurance and with health insurance . what we're trying to accomplish here is recognition of the fact that in recessions, unemployment lags on even well after recovery has taken place.
>> you guys get all that? did you get all that? do you get the full thing there? in the same house session ryan , i should say when he's talking the majority in the house he's talking about senate democrats who are helping president bush pass a stimulus because they think it's the best thing to do even though their partisan interest is to destroy the agenda of the president from the other party. senate democrats went for the stimulus. in the same house session ryan argues, i love this, he argues that those worries about fiscal discipline and deficits, because this is albio roed mon -- this is all about fiscal stimulus.
>> we have a lot of laid off workers and more layoffs are occurring. we know as a historical fact that even if our economy begins to slowly recover that unemployment will linger on well after that recovery takes place. what we've been trying to do starting in october then in december and now the to try to get people back to work. things we're trying to passing this bill are the time tested proven bipartisan solutions to get businesses to stop laying off people, to hire people back, and to help those people who have lost their jobs. it's more than just giving someone unemployment check. it's also helping those people with their health insurance while they've lost their jobs and more important than just that unemployment check is to do what we can to give people a paycheck. we've got to get their engine of economic growth growing again because we now know because of the recession we don't have the revenues we wanted to. we don't have the revenues we need to fix medicare, to fix social security , to fix these issues, we've got to get americans back to work, then the surpluses come back, then the jobs come back, that is the constructive answer we're trying to accomplish here. yes on a bipartisan basis. i urge members to drop the demo demogogury and get people back to work.
>> who is that guy?
>> it gets better.
>> where do i get to wear a pin.
>> not just a line that line gave in washington. according to wisconsin journal times he goes back to his people in his district he's making the case for keynesian spending in spller times. he says quote you have to spend a little to grow a little. what we're trying to do is stimulate the part of the economy that's on its back. paul ryan , 2012 . paul ryan 2002 . paul ryan 2012 we hate and reject the failed experiment of keynesian . i want to talk about this. if i talk about the stimulus in the way that it is the absolute bedrock of this kind of political hypocrisy and what it meant for the era that fold it right after we take this break. k, walk.