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What's next for Paul Ryan?

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    Art Laffer: Congressman an 'odds-on favorite' for 2016 nomination

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So congressman Paul Ryan now heads back to Washington where there is indeed lots of work to do he will continue his responsibilities there.

As the chairman of the House Budget Committee which is a powerful position.

As we face a mountain of debt that now stands at more than sixteen.

Trillion.

Dollars.

So where we -- a novice.

-- -- -- Economic advisor are good morning good to see this morning tomorrow and Martha how are you.

I'm doing just fine thank you -- well let's talk a little bit about Paul Ryan Ian he was vilified for his budget by a lot of people when it came out and then passionately supported by others the president himself call them out on -- once in a public forum.

I he ran for vice president lost now -- Well now I think give the Ryan budget is a real problem for the president.

You know when he was running for office it was politics but now the president won and if things don't go well and I don't think they are gonna go well for the president.

I think the Ryan budget now will be a -- to really go after Obama not the other way around.

Paul Ryan I've known him since he was this tall and he is one of the most exemplary people I've ever seen both in his personal life and isn't in his professional life.

He's been a strong advocate of good sound -- free market pro growth.

Supply side economics and I think he is with odds on favorite for the next Republican nominee in 2016.

And he's a very serious person in congress and he's liked by all people I -- left wing right wing in the middle he is highly -- I think and they are presenting him and it as the perfect person to sort of build the bridge and convince people more that Eddie's right this is an as you -- Accurately point out as well which is no surprise coming from -- laugher that you know if -- the president doesn't.

I have produce a growing economy he's not an -- at like Disney which is clearly something that he wants now as well.

That would seem he's not -- have yet a recipe for some kind of of getting together honest kind of hope.

Well I hope so I mean I'm very very hopeful about what's gonna happen -- I I don't I think this was the election not to win.

We have that the 2013.

Tax -- -- -- that I think is gonna lead to a very sharp drop in economic activity and you know looking at 2014.

I'm very excited about how the elections will turn out there.

And 2016.

I think will be the equivalent 1980.

And we're gonna have enormous prosperity in America I couldn't be more happy and more optimistic than I am this is this is Obama's that he -- And the Democrats did pretty well and frankly that's their game it's and -- the only game in town but I hope they go the Simpson Bowles.

Flat tax and spending restraint and.

Sound money and every second president will go -- for real tax reform for -- you know I sort -- flat Activision.

Or that he will allow anything to pass that doesn't include an increase in taxes for the -- I think he's gonna require increases the tax rate from the well think that and that's his downfall.

And that just makes no sense whatsoever the wealthy are the people who hire everyone else.

You you can't love jobs and hate job creators Martha.

And he hates job creators.

And it's just too bad but you'll see the consequences of that in the next couple of years and.

Unfortunately then it'll leave the opening for the.

Real change to occur in America -- even -- -- column Colin Powell and spoke out about that and and he was supportive of the president but he says some very critical things about.

He said he doesn't know how to deal with business he doesn't like this as I'm paraphrasing him but it was essentially along those lines -- -- -- to learn how to work with congress.

Yes he -- all that's true I don't I don't know how you praised him after just saying all those things.

It seems like that's the only thing that's important for a president to be able to do is the -- that column calls that he can't do.

He's a fine man President Obama is great family good person an enormous success story but yes he's he's a bad president.

And we need a good present a good congress to work together.

What about John Boehner on on this I am curious about who the phasing out of the -- is that we're going to be watching really closely as they try to hash this out.

Very dramatic as -- John Boehner yet.

John Boehner is also a very fine man.

And congressman from Ohio good family good background good man he's in a very tough spot.

He could do a compromise without.

Getting the agreement of people like cantor and Ryan he could do it but I think he'd be very mistaken to do that.

He could get 506070.

Republicans in the house to move -- vote with the Democrats but.

I don't think he should do something like that I think that Republicans should stick to their principles of free market pro growth.

Supply side economics and and let the chips fall where they may I -- that's what I think Boehner should do.

Thank you arguing that so thank you -- -- -- are good man.

And that they should be able to get in there and work this out and also that I don't let that election to lose that you're very optimistic about the future interest in -- thank you thank you -- and yeah.

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