Politics

Paul Ryan: ‘Current Policies Are Shutting Young People Out Of Our Economy’

REUTERS/Yuri Gripas

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Juliegrace Brufke Capitol Hill Reporter

House Speaker [crscore]Paul Ryan[/crscore] said he thinks current policies are blocking Americans from achieving an acceptable level of success, during a Wednesday speech at Georgetown University.

According to Ryan, he would like the economy to return to what it was when he was younger – a place where hard work paid off when looking for employment opportunities and regulations didn’t get in the way of starting small businesses.

“When I talk to college graduates these days, it’s clear they’re still living with the consequences of the crash. They studied hard, but they can’t find a job that matches their skills,” he said. “They’re working hard, but they’re not getting that promotion they hoped for. They want to buy a house, but they can’t afford it. They want to save for retirement, but they can’t sacrifice the money.”

Ryan, a Wisconsin Republican, went on to say, while the GOP tries to work with the other side of the aisle to find common ground, there are major disparities on how to best fix the country’s economic woes.

“I believe many of our current policies are shutting young people out of our economy by taking decisions away from people—from the individual,” he said.

Ryan added the GOP’s philosophy is to promote an open economy where all people can strive to achieve their aspirations.

“This is the difference: We do not believe we should be governed by our betters — that elites in Washington should make all the big decisions—that they should pick winners and losers — that’s a recipe for a closed economy — for cronyism,” he continued.

Citing an Securities and Exchange Committee regulation preventing entrepreneurs from raising money through stock online, the speaker said regulators often block policies instead of coming up with a productive solutions, adding Congress has since passed a rule overturning the rule. Ryan went on to say the SEC’s idea blocks investment and innovation necessary for the success of the country.

“Government does not impose community. The people create it — and government’s role is to protect it. Only we the people can build a confident America. So today I am asking for your help. We need your ideas,” he said. “We need you to create the next Uber or Lyft or Twitter or Snapchat … or to raise the next generation . . . or to run for office . . . or to get involved in our community … or do all of these things.”

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