Representative Paul Ryan of Wisconsin has a reputation for being a fiscal conservative. His new budget proposal serves as further evidence of his dedication to responsibility with our nation’s finances.
Russell Berman and Bernie Becker of The Hill reported yesterday…
Ryan’s final $5.1T cutRep. Paul Ryan (R-Wis.) on Tuesday unveiled a budget that proposes to cut $5.1 trillion over a decade in a bid to erase the federal deficit, while calling once again for dramatic changes to Medicare, Medicaid and the tax code.The nearly 100-page blueprint is likely be the last formal budget proposal from Ryan, the Republican chairman of the House Budget Committee, who wants to move to the more powerful Ways and Means Committee next year.While Ryan adheres to a bipartisan budget agreement that set a $1.014 trillion spending cap for fiscal 2015, he proposes deeper cuts to discretionary accounts after that in order to keep the GOP’s promise to balance the budget within 10 years. In those out years, defense spending gets a boost by $273 billion over the level President Obama proposed in his budget last month…”By cutting wasteful spending, strengthening key priorities, and laying the foundation for a stronger economy, we have shown the American people there’s a better way forward.”
America definitely needs a better way forward. Government spending is out of control with no end in sight. In fact, Mike Flynn of Breitbart recently reported that the United States government is now the third largest economy in the world…
US Government Is World’s 3rd Largest EconomyThe United States economy produces just over $16 trillion in total goods and services every year. China’s economic output is, by the most reliable measure, over $8 trillion. The next largest national economy is Japan, producing around $5 trillion in total economic output. Federal, state, and local governments in the US, however, consume more than $6.2 trillion. US government spending, in fact, is about the same as the total economic output of France and Germany combined.
Paul Ryan’s budget has been criticized by Tea Party groups and Sarah Palin for not going far enough but it serves as a reminder that America is on an unsustainable path.
Sooner or later, the bill is going to come due. At the very least, Congressman Ryan deserves an A for effort.
Featured image via YouTube.
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