Tuesday, March 12, 2013

Ryan and Republicans Propose a Balanced Budget

Led by Paul Ryan, House Republicans proposed a ten year $4.6 trillion budget for the US.

According to Ryan, his budget "ends cronyism, eliminates waste, fraud, and abuse and returns the federal government to its proper sphere of activity".

The budget focuses on cutting spending, by ending foreign wars and by repealing Obamacare.

It is expected to be approved, within the month, by the Republican controlled house.

Meanwhile, in the Senate, Democrats are working on their own budget proposal, which will rely on tax increases.

The Democrats say their ideas will save $1.85 trillion, over ten years, or less than half of the Republican plan.

A budget has not been passed, since Obama took office, leading to a huge increase in the national debt.

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