Stanford University economist John Taylor has some good charts about Rep. Paul Ryan’s Roadmap. If you haven’t read the plan, you should — it’s only 87 pages long — but if you don’t read it, Paul Krugman summarizes it well when he says that the plan “calls for steep cuts in both spending and taxes.”
Here are some of Taylor’s charts, which use the latest CBO numbers about our long-term budget outlook. They speak for themselves.
Yes, spending is going down under the plan.
And the deficit is actually shrinking.