Ryan: Obama's Shared Scarcity a 'Deeply Pessimistic Vision'

Speaking at the Economic Club of Chicago this afternoon, House Budget Committee chairman Paul Ryan (R-Wis.) intensified his criticism of opponents of his “Path to Prosperity” budget plan, including President Barack Obama, calling their vision for the future of America one of “shared scarcity.”

“To an alarming degree, the budget debate has degenerated into a game of green-eyeshade arithmetic, with many in Washington, including the President, demanding that we trade ephemeral spending restraints for large, permanent tax increases,” Ryan said. “I call it the ‘shared scarcity’ mentality. The missing ingredient is economic growth.