Paul Ryan explains his vote in favor of the tax cut deal:

It's a useful summary of current Republican ideology. I don't disagree with much of it, and think his pragmatism makes sense. But let's be honest: the Bush tax cuts are unaffordable in the medium and long term. They were sunsetted for a reason, and Ryan's refusal to acknowledge that is a sign of the GOP's fiscal unseriousness.

Yes, low taxes are great. Now let's cut the long-term spending to match them. And if we cannot, then some tax hikes - or ending tax breaks - will be essential for any compromise.

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