BUSTED: This Video Should Destroy Paul Ryan's Credibility On Spending

Rep Paul Ryan was on CNBC this afternoon, talking his book: spending cuts, regulation elimination, etc.

Near the end, he was asked his job creation plan. The first idea made sense: Get rid of crony capitalism regulation. OK, fair enough.

Then he dropped a whopper: He said we needed to cut the debt so that we could eliminate interest rate pressure in the economy.  That’s weird. Perhaps he hasn’t looked at interest rates lately. He might be right that they’re too high. But unfortunately, this kind of slip confirms he’s someone whose economic ideas are based on ideology, not based on what’s happening in the actual economy.


NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.