Introducing to the debt crisis lexicon what is perhaps its catchiest potential meme yet, Rep. Ryan explained that much of the “spending” cuts proposed were counting money not yet necessary to spend. Many of the assumptions, Rep. Ryan explained, in the proposed cuts were, to him, complete fiction:

We assume we’re going to be fighting this war for 10 more years, with over 100,000 troops in Afghanistan and oh, gosh, wait, we’re going to withdraw our troops in 2014. $1 trillion in savings. I’ve got a better idea. Let’s pass a bill to cover the moon with yogurt that will cost $5 trillion today. and then let’s pass a bill the next day to cancel that bill. We could save $5 trillion. Wait, I’ve got a better idea. Our debt is $14 trillion. Let’s come up with a new plan to spend $14 trillion, then rescind it the next day and let’s save $14 trillion. This stuff is fiscal fantasy. You can’t make this stuff up, Mr. Speaker. 

The video is better than reading it: