May 02, 2011
FACT CHECK: Paul Ryan Falsely Claims Republicans Are Addressing Spending and Debt
On ABC’s This Week today, Republican Budget Committee Chairman Paul Ryan (WI-01) falsely claimed that his focus is on cutting spending and reducing debt. Ryan said “Let's keep our eye on the ball. The eye on the ball is spending. And the sooner we get this thing under control, the better off everybody will be.”
In reality, Representative Paul Ryan and House Republicans voted overwhelming for a plan that would increase the debt by 70 percent. The New York Times called it a “not a serious answer” to the deficit problem.
National Debt Increases $8 Trillion Under Ryan Budget. Under Ryan's plan, the national debt would still increase $8 trillion over the coming decade to $23 trillion. [Roll Call, 4/06/11]
CBO: Debt Rises During First 10 Years of Ryan’s Plan. According to an initial analysis by the CBO, they found that by the end of the 10 year budget window, public debt would actually be higher. CBO projected under current law the debt would balloon to 67 percent of GDP by 2022; under Ryan’s plan, the CBO expects it to rise to 70 percent. [Congressional Budget Office, 4/05/11; The Atlantic, 4/06/11]
Conservatives Angered. Rep. Jim Jordan, chairman of the Republican Study Committee, praised the effort but said he planned to put out his own budget to balance the budget in a decade. Ryan’s budget doesn’t eliminate the deficit until the late 2030s. [Roll Call, 4/06/11]
EDITORIAL: GOP Budget isn't a "Serious Answer" to the Deficit Problem. "The deficit is a serious problem, but the Ryan plan is not a serious answer." [New York Times Editorial, 4/6/11]