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Tags: budget | debt | ryan | obama

Rep. Ryan: Obama, Democrats Budgets Will Exacerbate Debt Crisis

By    |   Wednesday, 28 March 2012 03:52 AM EDT

House Budget Committee Chairman Paul Ryan say President Barack Obama and the Democrats have proposed budgets that will do nothing less than exacerbate America’s growing debt crisis. The Wisconsin Republican also told Fox News’ Sean Hannity Tuesday the House will pass its budget Thursday, moving the process forward, despite the Senate’s continued reluctance to do so.  
“It means a debt crisis. [Obama] is also saying: Let’s add another $11 trillion on top of what he’s already done. If you take a look at . . . the red tidal wave of debt, Sean, this is the most predictable economic crisis we have ever had in this country — it’s a debt crisis,” Ryan said. “Our debt literally gets out of control and it ends the American dream as we know it. The Senate isn’t even doing a budget. So the president at least gave us a budget and that shows you a mountain of red ink, a debt crisis, more debt, and the end of the American dream.
“The Senate’s not even bothering to pass a budget for the third year in a row — we are passing a budget again on Thursday, like we did last year,” he said. “We are showing the country exactly how we would get the debt paid off . . . our plan for getting government spending and borrowing under control and getting it paid off.”

Ryan said while Obama and the Democrats are offering Americans a future laden with increased debt, the House budget shows a road to prosperity.

“What I'm basically saying is we are offering the country a choice of two futures. So we are going to the country and saying: Here’s what you need to do to get back to prosperity, limited government, economic freedom, a debt- free nation for your children,” Ryan said. “The more you kick the can, the worse it gets, the more imperiled our economy becomes, and the more of a debt crisis we have on our hands.

“First off, ours does get to balance — if you have better economic growth, ours gets to balance pretty quickly,” he added. “What this path that we are right now on — that the president is proposing — says, by the time my kids are my age, let’s take 40 cents out of every dollar made in America to pay for the federal government.

“Then by the time my grandkids are raising their grandkids, we are taking 80 cents out of every dollar just to pay for this federal government at that time — no new programs, the current promises that that the government’s currently making,” Ryan said. “That’s what it will cost because of the explosion of these entitlement programs. We are showing the country the path we are on today, doubles and then doubles again, over the course of our kids’ and grandkids’ lifetimes and our lifetimes — this is unsustainable.”

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Wednesday, 28 March 2012 03:52 AM
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