Paul Ryan: I Signed Flawed Cliff Deal to Prevent Tax Hikes

Paul Ryan says he voted for the fiscal cliff deal, despite “unfortunate’’ compromises by President Barack Obama, because he wanted to spare Americans whopping tax hikes.

“I joined my colleagues in the House to protect as many Americans as possible from a tax increase. We also provided certainty by making the lower tax rates permanent,’’ the Wisconsin congressman said in a statement posted on his website.

“The House has already passed legislation to prevent tax increases for every American family, and it is unfortunate that President Obama insisted on taking more from hardworking taxpayers.’’

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Ryan, who is chairman of the House Budget Committee, said despite his objections to parts of the deal, “I commend my colleagues for limiting the damage as much as possible . . .

“Will the American people be better off if this law passes relative to the alternative? In the final analysis, the answer is undoubtedly yes.’’

Ryan identified the main problems preventing a solution to the nation’s debt issues as “too little economic growth and too much spending.’’

And he ripped the Obama Administration, warning that “without presidential leadership, it will be difficult to forge bipartisan solutions to our debt and economic challenges.’’

Ryan, who was catapulted into the world spotlight when Mitt Romney chose him as his running mate, said lawmakers must tackle “Washington’s reckless spending’’ which drives the debt.

“This debt is hurting the economy today. Unless we get at the heart of the problem, Americans will face a debt crisis—one that will threaten our most vulnerable in particular. It is our responsibility to prevent such a crisis.”