April 6th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement on the House Budget Committee Chairman Paul Ryan’s proposal for the 2012 budget:
“The House Republican 2012 budget proposal is to be commended for what it does right. It will reduce spending by $5.8 trillion from the current baseline. It deals with the out-of-control growth of Medicaid and ObamaCare spending. It starts the discussion on entitlement reform including making Medicare sustainable. Its mandatory budget caps will restrict the growth of spending going forward by requiring any increases above the ceiling be offset by cuts elsewhere.
“The proposal correctly diagnoses the risks that the unsustainable growth of the $14.2 trillion national debt to more than $25 trillion by 2021 poses to the American way of life. However, this budget does not fully address those risks, and that is where it comes up short in terms of bringing the nation’s fiscal house into order. Even if implemented in full, the budget would still require deep cuts.
“The proposal won’t balance the budget any time soon, if at all. It starts out with $110 billion in initial cuts when the spending caps goes into place. The fact is, by Chairman Ryan’s own numbers, the proposal will add more than $8 trillion to the gross national debt over 10 years. If $500 billion of initial cuts were made for 2012 instead of $110 billion, and then Ryan’s spending cap was implemented, instead of an average deficit of $508 billion under the proposal, the average deficit would be reduced to $130 billion, and the budget would be practically balanced by 2018.”
Attachments:
“Compound Savings,” by ALG President Bill Wilson, April 6th, 2011.
House Republican 2012 Budget, April 5th, 2011.
House Budget Chairman Paul Ryan Proposes “More than $4 trillion” in savings in 2012 budget, FOX News Sunday, April 3rd athttp://www.youtube.com/watch?v=anUaVUp17fQ and http://www.foxnews.com/on-air/fox-news-sunday/transcript/rep-paul-ryan-previews-gop-budget-sen-marco-rubio-debt-crisis-libya.
Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.
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