Crazy Mofos

[marmar]

(Bloomberg) U.S. House Republicans today unveiled a plan to overhaul the federal budget and slash the deficit in coming years by about three-quarters, with a $6- trillion cut in spending and 25 percent cap on tax rates.

The proposal, the Republicans’ first comprehensive budget plan since the November elections, would cut the deficit next year to $995 billion from $1.4 trillion now. It would continue to narrow the shortfall to as little as $379 billion in 2018, though it wouldn’t balance the government’s books until 2040.

House Budget Committee Chairman Paul Ryan’s plan relies on spending cuts to reduce the red ink, slicing more than $6 trillion over the next decade out of Medicare, Medicaid, food stamps and scores of other programs. At the same time, his proposal calls for cutting taxes, with the top corporate and individual tax rates set at 25 percent.

“We believe that we have the moral responsibility to step in and provide the leadership that the president has not been providing,” Ryan told reporters today in Washington. “He punted on debt reduction. We’re not going to do that.” ...........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-05/house-republicans-unveil-budget-plan-with-6-trillion-of-cuts-over-decade.html