Obama’s budget proposal shows mounting national debt and deficits. Paul Ryan unveiled the House budget proposal today, which shows a very different trajectory.
Via James Pethokoukis comes this chart demonstrating the difference:
After the Obama White House released its 2013 budget plan last month, U.S. Treasury Secretary Timothy Geithner went to testify before the House Budget Committee. He told the committee’s chairman, Republican Paul Ryan of Wisconsin, the following: “We’re not coming before you to say we have a definitive solution to that long-term [budget] problem. What we do know is we don’t like yours.”Let me remind Team Obama of a favorite Geithner aphorism: “Plan beats no plan.”Barack Obama doesn’t have a long-term, debt-reduction plan. Paul Ryan does. So under the Geithner formulation, Ryan wins by default.But the latest version of Ryan’s Path to Prosperity, released today, does far more than defeat a rival who’s decided to forfeit the field. It presents a bold and sweeping solution to America’s twin problems: too much debt and too little economic growth.
Update: Matt Lewis, Paul Ryan’s new budget concedes Newt was right about ‘right wing social engineering’?
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