Congressman Paul Ryan, chairman of the House Budget Committee, submitted a proposal to cut over $6 trillion from the federal budget over the next 10 years and balance the budget. From the Wall Street Journal, here is his proposal:
http://online.wsj.com/article/SB10001424052748703806304576242612172357504.html
I'm an economic conservative but I still think the deficit situation is often slightly exaggerated. For example After WW2 the deficit was 121% of GDP. Last time I checked it was around 90% currently. Not good but not the end of the world either. I personal think that there should be a law that the only way are country can go into debt is in the case of an emergency like a war or natural disaster. I wish america was the one that was lending money to foreign nations not the other way around. I don't care how noble some government officials feel there social programs are YOU CAN'T SPEND MONEY YOU DON'T HAVE.
ReplyDeleteFareed Zakaria offers an analysis of both budget proposals that I think is pretty fair coming from a moderate. He says the Ryan plan is "unrealistic", but also praises it for having the guts to take on entitlement reform.
ReplyDeletehttp://globalpublicsquare.blogs.cnn.com/2011/04/10/fareeds-take-why-paul-ryans-plan-wont-work/