Ryan confused? Accuses Obama of...Trickle Down Economics?

President Barack Obama’s most recent tax overhaul for corporations is just “crony capitalism,” Rep. Paul Ryan says. “It’s a raw deal and I think it’s more crony capitalism. The president likes to pick winners and losers. He lets some businesses off the hook…”

Sorry, that didn’t make any sense. Thomas Frank’s wrote this about Ryan’s pretzel logic:

Government, in Mr. Ryan’s view, is alternately the tool and the terror of big business, doing one firm’s bidding as it crushes another one. The solution is to get government out of the game altogether … the tail-chasing logic behind the “down with big business” rhetoric. 

MSNBC’s Steve Benen also noticed how Ryan now suddenly and conveniently appreciates the Federal Reserve:

What is important is that Ryan’s explanation is gibberish. Consider the Speaker’s argument broken down into its component parts:

1. Paul Ryan opposes the Fed’s recent monetary policies.2. Paul Ryan believes the Fed’s recent monetary policies are bad for the economy.3. Asked about positive economic developments, Paul Ryan credits the policies he doesn’t support.

About a year ago, Paul Krugman described Ryan’s understanding of monetary policy as “craziness.” The assessment continues to be fair.