News · Press Release

Paul Ryan Reality Check: The Middle Class

Over the past few days, Paul Ryan has touted that his Speakership brings “a new day to the House of Representatives” and that they “aren’t going to have a House like it looked the last few years.”

And Paul Ryan just stated in his acceptance speech that the House of Representatives will now focus on the middle class and working families.

What does that “new day” mean for middle-class Americans? A Paul Ryan reality check tells us that a focus on the middle class actually means less investment in jobs and worker training and continued hostility to raising wages for hardworking Americans.

Middle Class

2014: Ryan Said He Wanted The Federal Reserve To Stop Focusing On “Promoting Maximum Employment.” “Over the years, Congress has expanded the Fed’s mission, bringing it further into the sphere of political and legislative activity. In the 1970s, the Fed was tasked with a new mission: promoting ‘maximum employment.’ Ever since then, it has had a dual mandate, and in attempting to fulfill both duties, it has adopted risky and costly monetary policies.” [Paul Ryan, The Way Forward, published 8/19/14]

Economic Policy Institute: Ryan Budget Could Cost 3 Million Jobs.  “On net, I estimate that the House budget resolution would decrease GDP by 0.9 percent and decrease nonfarm payrolls by 1.1 million jobs in fiscal year 2015, relative to CBO’s current-law baseline. The following fiscal year, when Ryan’s cuts to discretionary spending kick in, ‘The Path to Prosperity’ would decrease GDP by 2.5 percent and cost 3.0 million jobs. And if the recovery remains sluggish, large job losses could continue under the Ryan budget in 2017 and beyond.” [Economic Policy Institute, 4/01/14]

OMB: Republican Budget Would Result In 3.5 Million Fewer Receiving Job Training. “Job Training – More than 3.5 million fewer individuals would receive employment and training services through Department of Labor job training programs.” [OMB, 4/01/14]

Ryan Voted Against Increasing The Minimum Wage At Least 10 Separate Times. [HR 2206, Vote #424, 5/24/07; HR 2206, Vote #333, 5/10/07; HR 1591, Vote #186, 3/23/07; HR 2, Vote #18, 1/10/07; HR5970, Vote #425, 7/29/06; HR5970, Vote #424, 7/29/06; HR2389, Vote #382, 7/19/06; HR2990, Vote#364, 7/12/06; HR4411, Vote #360, 7/11/06; HR5672, Vote #319, 6/27/06]

 


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