(CNSNews.com) – House Budget Chairman Congressman Paul Ryan (R-Wis.) said President Barack Obama’s budget strategy is to “do nothing, punt, duck, kick the can down the road” while the debt remains on track to eventually hit 800 percent of GDP. Ryan added that the CBO is saying it "can't conceive of any way" that the economy can continue past 2037 given its current trajectory.◼ Paul Ryan's Adult Conversation - Peter Ferrara/American Spectator
Ryan also said that the House Republicans’ FY2012 budget, which he unveiled yesterday, would save Medicare and help the United States avoid a debt crisis.
Real, Powerful Spending Cuts
Ryan fully delivers on the campaign promise of Republicans to cut federal spending, cutting the spending President Obama proposes in his disgracefully inadequate budget by $6.2 trillion over the first 10 years alone. In contrast, President Obama's budget actually proposes to increase runaway federal spending by $400 billion over the old CBO current policy baseline. President Obama has actually already increased federal spending by 28% compared to 2008, to $3.819 trillion this year from $2.983 trillion in 2008, after promising repeatedly in the 2008 election that he would adopt a "net spending cut." He then proposes in his 2012 budget to increase federal spending by another 57% to $5.756 trillion by 2021 according to CBO. That's not radical, irresponsible and extreme? Ryan's budget would spend a trillion dollars less in 2021 alone.
Ryan's budget would reduce domestic federal spending to below 2008 levels, restoring pre-stimulus, pre-bailout spending, again as promised. Federal spending is reduced to below 20% of GDP, the long-run, postwar, historical level, by 2015. With that level of federal spending prevailing on average for 60 years since World War II, to call it radical, irresponsible, and extreme is itself unprofessionally irresponsible and misleading.
◼ FLASHBACK: Obama in 2009: Medicare and Medicaid 'are really breaking the bank'...