Rep. Paul Ryan (R., Wis.), the ranking member of the House Budget Committee, tells reporters that the Obama administration’s fiscal policy is moving the country toward “our own lost decade” and, perhaps, a “lost generation.”

“Take a look at what our government has done in the last two years,” Ryan says. “The Keynesian experiment of more spending has failed to produce jobs . . .  The fiscal policy of our government is going in the exact opposite direction it ought to be going. Borrowing and spending is not working.”

“We are basically replicating the kind of economics that the Japanese practiced in the 1990s and we are buying ourselves our own lost decade,” Ryan says. Entitlement spending, he warns, could lead to a “lost generation.”