Ryan: U.S. must cut back on spending

March 16, 2013 at 10:07 AM
| License Photo

WASHINGTON, March 16 (UPI) -- The architect of the U.S. House's budget plan said Saturday the federal government must reduce its spending or head "straight into a debt crisis."

Delivering the Republicans' weekly media address, Rep. Paul Ryan of Wisconsin said the budget plan he has developed "lets Washington spend only what it takes in," The Hill reported.

"This is how every family tries to live, in good times and in bad," he added. "Your government should do the same."

Ryan's plan would balance the budget in 10 years by cutting spending, eliminating tax loopholes and lowering tax rates across the board. It would cut Medicare and other entitlements and repeal the healthcare reform law sought by President Obama and approved by Congress.

He said his plan would "cut red tape and give states flexibility on how to implement their federal welfare programs."

Tax increases included in a proposal by Sen. Patty Murray, D-Wash., would only "fuel more spending," he said.

"We know where this path leads," the GOP's 2012 vice presidential nominee said. "Straight into a debt crisis, and along the way, fewer jobs, fewer opportunities and less security."

Evoking the bipartisan efforts of former President Bill Clinton, Ryan called on Obama to work with Republican members of Congress to balance the budget.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Kurds plan to carve state out of Iraq after fighting stops, leaders say
U.S. airstrike kills one of first Islamic State members in Syria
Former Russian oligarch Sergei Pugachyov suing kremlin for $15 billlion
Van hauling fireworks catches fire on I-15 near California-Nevada border
July 4 terror threats an annual but necessary ritual, experts say