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

Wednesday, 28 Mar 2012 03:52 AM

By Hiram Reisner

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
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.”

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Passengers Push Plane on Icy Russian Runway (With Help of a Tractor)

Wednesday, 26 Nov 2014 20:45 PM

Passengers on a Russian plane got off to push the aircraft to help get it on the runway after it began slipping on ice i . . .

Bernie Tiede, Convicted Murderer Mortician, to Get New Sentencing

Wednesday, 26 Nov 2014 17:39 PM

Bernie Tiede, the mortician who was convicted of killing his companion Marjorie Nugent in 1996, will receive a new sente . . .

Chrysler Pentastar Logo Getting Phased Out With FCA Formation

Wednesday, 26 Nov 2014 15:51 PM

Chrysler's iconic Pentastar logo is being phased out as the company introduces a new logo in keeping with the newly form . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved