The biggest need for the U.S. economy is to increase the amount of investment in physical, human, and knowledge capital. More investment is what the U.S. needs to remain competitive and boost productivity and incomes agoing forward.
But the Ryan budget–and by extension the Romney budget–would go in precisely the wrong direction. Brad Plumer of the Washington Post writes:
Compared with Obama, Ryan would spend 25 percent less on transportation. He’d spend 6 percent less on “General science, space, and basic technology.” And, compared with the White House’s proposal, he’d shell out 33 percent less for “Education, training, employment, and social services.”
There’s no justification for throttling back on investment, no matter what your political stripe.