Why the Romney-Ryan Budget is Anti-Investment

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.

Comments

  1. Of course there is, the govt doesn’t know what it’s doing with that investment. It’s not like the money disappears when the govt doesn’t spend it, right now they’re borrowing $1.5 trillion a year to spend on kinds of crazy shit. Leave that money in taxpayers’ hands, as Romney would do by keeping the Bush tax cuts, and they’ll invest in businesses they actually believe in, not the stupid shit the govt puts money into, which are calculated to buy union votes, not to do anything worthwhile.

  2. Government funds basic research of the type the private sector is unmotivated to pursue providing complementary investment making private investment possible, like the internet and web.

  3. The only way Romney can balance his budget is to destroy Medicare.
    Check out the photo that illustrates the concept. (Spoof.)

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