GOP raises red flag over U.S. debt

April 9, 2011 at 7:53 AM
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WASHINGTON, April 9 (UPI) -- Although a U.S. government shutdown has been averted, the Republican Party warned Saturday national debt levels are unsustainable and must be addressed.

In the party's weekly radio and Internet address, Rep. Paul Ryan, R-Wis., said the Republican budget that will come out next week will "move the debate in Washington from billions in spending cuts to trillions."

Ryan, the chairman of the House Budget Committee, said President Barack Obama's Democrats "have not been telling you the truth" about the country's finances and future.

"Unless we act soon, government spending on health and retirement programs will crowd out spending on everything else, including national security," Ryan said. "It will literally take every cent of every federal tax dollar just to pay for these programs."

The congressman alleged the Democrats' budget would raise taxes by $1.5 trillion within the next two years of Obama's term.

"Our budget is very different," Ryan said. "Instead of locking in the spending spree of the last two years, our budget cuts $6.2 trillion in spending from the president's budget over the next 10 years."

Budget wrangling went literally into the 11th hour Friday night when a temporary compromise was struck before midnight between Obama and Republicans that prevented a partial government shutdown that would have furloughed some 800,000 federal workers.

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