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Paul Ryan: Ask the Greeks How Not Dealing With Your Debt Works Out

"We’ve heard a lot of excuses from this administration..."

 

Following in step with his Republican Senate Budget Committee counterpart Sen. Jeff Sessions, House Republican Budget Committee Chairman Rep. Paul Ryan has called out the gimmicks in President Obama's FY 2013 budget released Monday.

On CNBC's Kudlow Report on Tuesday, the Wisconsin Republican did not have sweet things to say about President Obama and his economic advisors idea of spending cuts claimed to be in their budget, which Rep. Ryan calls "fundamentally unserious."

"This is really more of a campaign document than a credible fiscal solution to our big budget problems," Rep.Ryan said Tuesday. "The President is claiming that this is a $4 trillion deficit reduction package; but Larry when you strip out all the accounting tricks and all the budget gimmicks, he's increasing spending by 1.5 trillion and increasing taxes by 1.9 trillion for a measly $400 billion of deficit reduction over a 10-year period, where he proposes to spend $47 trillion."

Rep. Ryan said that the President has showed a lack of leadership in presenting a third straight budget that does not make a serious attempt to lower the national debt.

"Every time you don't do something to fix this problem, it just gets that much worse. Ask the Greeks," said Rep. Ryan

Ryan also confronted President Obama's acting OMB Director Jeffrey Zients Wednesday, calling out the President's broken promise to halve the deficit by the end of his first term.

“We’ve heard a lot of excuses from this administration for why the president broke his promise. But what we haven’t heard is any semblance of accountability,” The Hill reports Ryan told Zients at a hearing Wednesday Morning.

House Republicans argue that the Obama budget only cuts the deficit by $400 billion over 10 years, compared to the $4 trillion in deficit reduction the administration claims. The Hill reports that by House GOP measurements, the budget plan has $1.5 trillion in spending increases and $1.9 trillion in tax increases.

One last thing…
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