Paul Ryan’s Factual Confusion Over Fed Policy

a | A

By Jonathan Weil

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.

-0- Sep/13/2012 17:25 GMT