May 15, 2011
John Boehner claims it is time to address the debt, but Republican budget adds $8 trillion
Today on CBS’ Face the Nation, Speaker John Boehner said that it is time to get serious about the national debt: “No more kicking the can down the road. No more whistling past the graveyard. Now is the time to deal with the fiscal problems we have in an adult-like manner.”
In reality, the House of Representatives passed a Republican budget that would increase the debt by $8 trillion.
National Debt Increases $8 Trillion Under GOP 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 GOP’s Plan. According to an initial analysis by the independent Congressional Budget Office (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, 4/5/11; The Atlantic, 4/6/11]
Conservatives Angered. “Rep. Jim Jordan, chairman of the conservative Republican Study Committee, praised the effort but said he plans to put out his own plan later this week to balance the budget within a decade. Ryan’s budget doesn’t eliminate the deficit until the late 2030s.” [Roll Call, 4/6/11]
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]