Tags: ryan | obama | budget | deficit

Ryan: Obama’s Budget Suffocates Economic Growth

Sunday, 20 May 2012 11:05 AM

By Amy Woods

House Budget Committee Chairman Paul Ryan defended Mitt Romney’s tenure at private-equity firm Bain Capital while accusing President Obama of “gambling with taxpayer money” on alternative-energy company Solyndra.

Ryan, appearing on “Fox News Sunday,” said Bain Capital invested private money to help restructure businesses, not public dollars.

“We don’t think the government should be in the position of picking winners and losers in the economy, which is the result of the president’s economics,” he said.

Obama’s tactics amount to “crony capitalism” and “corporate welfare” and are suffocating economic growth, he said.

On the topic of the budget, the Wisconsin Republican said his party’s plan will increase revenues by plugging tax loopholes and will attack the debt crisis by reforming Medicare and Social Security.

“The kind of budget that Mitt Romney’s talking about is one to prevent a debt crisis, save Medicare and Social Security from going bankrupt,” Ryan said. “Unfortunately, the president’s budget does none of that.”

He said Obama’s budget would result in a 76-percent increase in the debt.

“If we just did nothing, the debt would go up 78 percent,” he said. “This is not leadership. It’s economic stagnation. The president has punted. We’re going to lead.”

© 2015 Newsmax. All rights reserved.

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

Prince Philip Knighthood Backlash Is 'Electronic Graffiti': PM Abbott

Tuesday, 27 Jan 2015 09:26 AM

The Prince Philip knighthood backlash is reaching a boiling point after Australian Prime Minister Tony Abbott announced  . . .

Turkey Farm Quarantined in California After Avian Flu Outbreak

Tuesday, 27 Jan 2015 08:42 AM

A California turkey farm was quarantined after a strain of avian influenza was detected Friday, making it the first comm . . .

Interplanetary Dust: Comets Dump Space Dirt on Earth

Tuesday, 27 Jan 2015 08:27 AM

Interplanetary dust is transported around the solar system by comets, scientists have discovered. . . .

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