House Republicans have proposed two budgets that begin to truly move the dial of federal spending the right way: forcing us to begin the task of paying off the debt, restoring America's fiscal solvency, job creation, and economic growth.
The first, by Budget Committee Chairman Paul Ryan, cuts $6.2 trillion in government spending and pays off the debt while beginning to balance the budget. Full details can be found here:
Some highlights:
- Cuts $6.2 trillion in government spending over the next decade compared to the President’s budget, and $5.8 trillion relative to the current-policy baseline.
- Brings government spending to below 20 percent of the economy, a sharp contrast to the President’s budget, in which spending never falls below 23 percent of GDP over the next decade.
- Puts the budget on the path to balance and pays off the debt.
- Keeps taxes low so the economy can grow. Eliminates roughly $800 billion in tax increases imposed by the President’s health care law. Prevents the $1.5 trillion tax increase called for in the President’s budget.
The second, put forth by the Republican Study Committee I am a member of, pushes the dial even further, building on the Budget Committee's groundbreaking FY2012 proposal: It gets us from trillion-dollar deficits to a
balanced budget in just nine years. Read all the details here:
http://rsc.jordan.house.gov/Solutions/rscfy2012budget.htm
A quick highlight of the real solutions this budget offers: If you think ...
- The budget should balance by a date certain within the ten years.
- This proposal balances the federal budget in 2020.
- The budget should provide for real improvements in Medicare, Medicaid, and Social Security to ensure their long‐term sustainability.
- This proposal puts forward common‐sense reforms to improve Medicare and Medicaid by offering increased choices and improved services, and takes steps to save Social Security by strengthening the program’s bank account.
- The budget should reduce spending and trim down the size of government in Washington, D.C. to make government more effective and efficient.
- Our proposal gets government out of the way so America’s businesses have the ability to grow and create jobs.
- The budget should provide for the termination of many federal programs that are unconstitutional, duplicative, or harmful to the free enterprise system in America.
- Our proposal does what American families across the country have been required to do in these tough economic times—do more with less.
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