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Chairman Paul Ryan Outlines New Budget: The Path to Prosperity
Posted by Don Seymour on April 05, 2011
In this morning's Wall Street Journal, House Budget Committee Chairman Paul Ryan (R-WI) outlined The Path to Prosperity, our new budget proposal for creating a better environment for private-sector job growth, stopping Washington from spending money we don’t have, and lifting the crushing burden of debt that threatens the future for our children and grandchildren.
David Brooks of the New York Times says The Path to Prosperity is "the most comprehensive and most courageous budget reform proposal any of us have seen in our lifetimes." While we encourage you to read Chairman Ryan's full op-ed, here are some key excerpts:
Creating a Better Environment for Private-Sector Job Growth: According to recent analysis, Chairman Ryan says The Path to Prosperity "will help create nearly one million new private-sector jobs next year, bring the unemployment rate down to 4% by 2015, and result in 2.5 million additional private-sector jobs in the last year of the decade." And "it would result in $1.1 trillion in higher wages and an average of $1,000 in additional family income each year." The budget will also “focus on growth by reforming the nation's outdated tax code.”
Stopping Washington from Spending Money We Don’t Have: Ryan says The Path to Prosperity "cuts $6.2 trillion in spending from the president's budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt." There a number of common-sense savings, including "reforming agricultural subsidies, shrinking the federal work force through a sensible attrition policy, and accepting Defense Secretary Robert Gates's plan to target inefficiencies at the Pentagon."
Lifting the Crushing Burden of Debt That Threatens Current Retirees & Future Generations: The Path to Prosperity "will not affect those in or near retirement in any way," says Ryan. But "[s]tarting in 2022, new Medicare beneficiaries will be enrolled in the same kind of health-care program that members of Congress enjoy." The plan also builds "upon ideas offered by the president's bipartisan fiscal commission" to "save Social Security for current retirees and strengthen it for future generations." And there's more. Auto-pilot spending is driving our debt crisis, but The Path to Prosperity protects these programs for current retirees while lifting the crushing burden of debt that threatens our children and grandchildren.
The Path to Prosperity also repeals and defunds the president's health care law, ends expensive taxpayer support for Fannie Mae and Freddie Mac, and calls for a free and open market for American energy exploration and production. And there's much more. Again, read the whole op-ed by Chairman Ryan here.
And stay tuned to Speaker.gov and Budget.House.gov for more information.
Chairman Paul Ryan Outlines New Budget: The Path to Prosperity
Posted by Don Seymour on April 05, 2011
In this morning's Wall Street Journal, House Budget Committee Chairman Paul Ryan (R-WI) outlined The Path to Prosperity, our new budget proposal for creating a better environment for private-sector job growth, stopping Washington from spending money we don’t have, and lifting the crushing burden of debt that threatens the future for our children and grandchildren.
David Brooks of the New York Times says The Path to Prosperity is "the most comprehensive and most courageous budget reform proposal any of us have seen in our lifetimes." While we encourage you to read Chairman Ryan's full op-ed, here are some key excerpts:
Creating a Better Environment for Private-Sector Job Growth: According to recent analysis, Chairman Ryan says The Path to Prosperity "will help create nearly one million new private-sector jobs next year, bring the unemployment rate down to 4% by 2015, and result in 2.5 million additional private-sector jobs in the last year of the decade." And "it would result in $1.1 trillion in higher wages and an average of $1,000 in additional family income each year." The budget will also “focus on growth by reforming the nation's outdated tax code.”
Stopping Washington from Spending Money We Don’t Have: Ryan says The Path to Prosperity "cuts $6.2 trillion in spending from the president's budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt." There a number of common-sense savings, including "reforming agricultural subsidies, shrinking the federal work force through a sensible attrition policy, and accepting Defense Secretary Robert Gates's plan to target inefficiencies at the Pentagon."
Lifting the Crushing Burden of Debt That Threatens Current Retirees & Future Generations: The Path to Prosperity "will not affect those in or near retirement in any way," says Ryan. But "[s]tarting in 2022, new Medicare beneficiaries will be enrolled in the same kind of health-care program that members of Congress enjoy." The plan also builds "upon ideas offered by the president's bipartisan fiscal commission" to "save Social Security for current retirees and strengthen it for future generations." And there's more. Auto-pilot spending is driving our debt crisis, but The Path to Prosperity protects these programs for current retirees while lifting the crushing burden of debt that threatens our children and grandchildren.
The Path to Prosperity also repeals and defunds the president's health care law, ends expensive taxpayer support for Fannie Mae and Freddie Mac, and calls for a free and open market for American energy exploration and production. And there's much more. Again, read the whole op-ed by Chairman Ryan here.
And stay tuned to Speaker.gov and Budget.House.gov for more information.
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