On Tuesday, House Budget Committee Chairman Rep. Paul Ryan (R-WI) released his budget for the federal government in 2013. Dubbed the Path to Prosperity, the plan trims spending, reforms taxes and looks to market-based reforms to health care entitlement programs—all key elements of The Heritage Foundation’s Saving the American Dream budget plan.
The Ryan budget is a tremendous improvement over liberal plans, including President Obama’s 2013 proposal, say Alison Fraser, who directs Heritage’s Roe Institute for Economic Policy Studies, and Patrick Louis Knudsen, a senior Heritage budget expert. The Senate has not released a budget proposal in several years.
» Ryan will be speaking about his plan at The Heritage Foundation on Thursday morning at 9:00 a.m. Eastern. Watch live online.
- Cut spending sharply and quickly
- Begin decisive entitlement reform
- Avoid tax hikes
- Ensure a strong national defense
- Include pro-growth tax reforms
- Move swiftly towards a balanced budget
According to Fraser and Knudsen, “Ryan’s budget is not perfect. Few consensus political documents can be.” Continue Reading »