Paul Ryan’s Factual Confusion Over Fed Policy
We inky wretches in the press get criticized all the time anyway for picking on politicians over their gaffes on the campaign trail. So when I saw this from Representative Paul Ryan, Mitt Romney's running mate, I figured I might as well pile on.
Ryan was talking about the Federal Reserve's plans, announced today, to pursue another round of quantitative easing, which is a fancy term for printing money to buy financial assets. At a campaign event in Wisconsin yesterday, Ryan said the central bank is “trying to bail out the fact that the president hasn’t led, that the Senate hasn’t passed a budget, that we have a horrible economic policy coming from our regulations and from our tax policy.”
Just one question: How do you bail out a fact?
(Jonathan Weil is a Bloomberg View columnist. Follow him on Twitter.)
Read more breaking commentary from Bloomberg View at the Ticker.