Paul Ryan deserves great credit for putting a sensible reform of Medicare on the Republican agenda. My latest Bloomberg column gives him that credit but also asks a few questions about his latest budget.
[I]t is a little strange for the Republicans to leave the recent tax increases in place. Some House Republicans voted to limit the tax increases that were taking place, and some voted against any deal to register their opposition to any increase. None of them favored the new taxes. So why aren’t they calling for a rollback? Because it’s a dead issue? It’s no deader than the promise to repeal the health-care law, a promise they renewed.
Or is it because it helps them reach their new goal of balancing the budget in 10 years? Just a few months ago, though, Republicans didn’t think higher taxes for a smaller deficit was a good trade.