In a speech to the Chicago Economic club this afternoon House Budget Committee Chairman Paul Ryan is expected to defend his FY 2012 Budget proposal and attack what he calls the Obama administration’s "shared scarcity mentality." In an advance copy of the speech, Ryan also derides the use of "class warfare" in politics.
"…[M]any in Washington – including the President – are really arguing over who to hurt and how best to manage the decline of our nation. It is a framework that accepts ever-higher taxes and bureaucratically rationed health care as givens. I call it the shared scarcity mentality," Ryan is expected to say, according to his prepared remarks. "The missing ingredient is economic growth. … Our plan aims to do two things: to put our budget on a path to balance, and to put our economy on a path to prosperity. These goals go hand in hand. Stable government finances are essential to a growing economy, and economic growth is essential to balancing the budget."
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The Ryan speech comes on the heels of a similar speech delivered by Speaker John Boehner at the Economic Club of New York last week, in which Boehner defended the Ryan budget plan. More debate on the plan is expected this week while the House is in recess and member at home meeting with constituents.
In the speech scheduled for 1PM ET, Ryan also plans to say: “Class warfare may be clever politics, but it is terrible economics. Redistributing wealth never creates more of it... Sowing social unrest and class envy makes America weaker, not stronger. Playing one group against another only distracts us from the true sources of inequity in this country – corporate welfare that enriches the powerful, and empty promises that betray the powerless.”