Short recap: in 2011, President Obama offered to cut Social Security and Medicare in return for tax hikes. The GOP said no. As a result, the tax hikes happened anyway and social insurance was not cut. This was, a Matt Yglesias writes, a disaster for anyone who honestly believes that the American state should redistribute no more income that necessary to prevent absolute penury among the elderly.
But it is even worse than that. The GOP would have eventually won an election; cutting taxes when that happens will be easy with a Congressional majority. Cutting entitlements, however, may be off the table forever.
I think Paul Ryan knows that. (Click the link. It’s big news, even if not quite an endorsement.)