The Bloomberg article is certainly long on opinion. But it’s mighty short on facts.
It is pretty clear that neither side has any intention of cutting government spending. And if we all agree that government is too big then you cannot solve the problem have growing the budget more slowly. It is like two 300 pound fat guys and one says he is on a diet because he will only gain 9 pounds this year instead of 10.
It may be observed that the “Ryan budget” does not end deficit spending. It only slows it down. But when 40 cents out of every dollar the government spends is borrowed, any help at all is welcomed, or ought to be.
How much will spending go down under the Ryan budget?