Paul Ryan GOP Response to President Obama's 2012 Budget Request FULL VIDEO

Paul Ryan GOP Response to President Obama's 2012 Budget Request VIDEO House Budget Committee Chairman Paul Ryan issued the following statement in response to the release of President Obama’s FY2012 Budget STREAMING VIDEO Running time 28:51

Paul Ryan: President Fails Leadership Test, President’s Budget Destroys Jobs with Record Taxes, Spending & Debt.

WASHINGTON – House Budget Committee Chairman Paul Ryan issued the following statement in response to the release of President Obama’s FY2012 Budget:

“The President’s budget spends too much, taxes too much, and borrows too much – stifling job growth today and leaving our children with a diminished future. In this critical test of leadership, the President has failed to tackle the urgent fiscal and economic threats before us.”

“Failing to heed the warnings of economists and the demands of the American people, the President’s budget accelerates our country down the path to bankruptcy. Far from ‘living within its means,’ the President’s budget puts the government on track to nearly double in size since the day he took office – a direct result of his party’s reckless spending spree. His budget destroys jobs by imposing a $1.6 trillion tax hike, adding $13 trillion to the national debt and fueling uncertainty in the private sector.

“We cannot tax, spend and borrow our way to prosperity. Where the President has fallen short, Republicans will work to chart a new course – advancing a path to prosperity by cutting spending, keeping taxes low, reforming government, and rising to meet the challenges of our time.”

Key facts from President Obama’s Fiscal Year 2012 Budget:

* Spends Too Much
o $3.8 trillion in spending this year; 25.3% of GDP (highest since WWII)
o $46 trillion in spending over the decade; $8.7 trillion in new spending
* Taxes Too Much
o $1.6 trillion tax hike on families, small businesses, and job creators
o Revenues as a percent of GDP climb to 20%
* Borrows Too Much
o $1.6 trillion deficit for FY2012; a record third straight trillion dollar deficit
o Doubles and then triples debt held by the public since President took office
o $13 trillion added to the debt over the decade

VIDEO and IMAGE CREDIT: c-span.org

TEXT CREDIT: U.S. Congressman Paul Ryan Washington, DC Office 1233 Longworth House Office Bldg Washington, DC 20515 Phone: (202) 225-3031 Fax: (202) 225-3393

The House Appropriations Committee Continuing Resolution (H.R. 1) FULL TEXT

House Appropriations Committee Introduces CR Containing Largest Spending Cuts in History.

WASHINGTON, D.C. – The House Appropriations Committee has introduced a Continuing Resolution (H.R. 1) to fund the federal government for the last seven months of the fiscal year while cutting spending by over $100 billion from the President’s fiscal year 2011 request. This CR legislation represents the largest single discretionary spending reduction in the history of Congress.

Chairman Hal Rogers gave the following statement on the introduction of the CR:

“This year, our nation is spending 1.5 trillion dollars more than we have, running our debt to $14 trillion. The taxpayers have told us loud and clear that this is simply unacceptable, and have demanded that we get our nation’s fiscal house in order.

“This CR responds to this call. The legislation includes the largest reduction in discretionary spending in the history of our nation – over five times larger than any other discretionary cut package ever considered by the House.

“The CR contains over $100 billion in cuts compared to the President’s request - fully meeting the spending reduction goal outlined in the Republican ‘Pledge to America’ while providing common sense exceptions for our troops and veterans. These cuts go far and wide, and will affect every community in the nation. These were hard decisions, and I know many people will not be happy with everything we’ve proposed in this package. That’s understandable and not unexpected, but I believe these reductions are necessary to show that we are serious about returning our nation to a sustainable financial path.

“The cuts in this CR are the result of difficult work by our subcommittees who have weeded out excessive, unnecessary, and wasteful spending, making tough choices to prioritize programs based on their effectiveness and benefit to the American people. My committee has taken a thoughtful look at each and every one of the programs we intend to cut, and have made determinations based on this careful analysis.

“It is my intent – and that of my Committee – that this CR legislation will be the first of many Appropriations bills this year that will significantly reduce federal spending. It is important that we complete the legislative process on this bill before March 4th -- when the current funding measure expires – to avoid a government-wide shut down and so that we can begin our regular budgetary work for this year.”

NOTE: The CR will be considered on the House floor next week.

A copy of the legislation: www.rules.house.gov/Media/file/PDF_112_1/legislativetext/2011crapprops/AppropCRFinal_xml.pdf

A summary of the bill: republicans.appropriations.house.gov/_files/SummaryFiscalYear2011ContinutingResolutionCR.doc

A list of program cuts: republicans.appropriations.house.gov/_files/ProgramCutsFY2011ContinuingResolution.pdf

Subcommittee savings tables: republicans.appropriations.house.gov/_files/FY2011CRSpendingTablesbySubcommittee.doc>

Contact: Jennifer Hing, 202-226-7007 ###

TEXT and IMAGE CREDIT: Committee on Appropriations H-307, The Capitol Washington, DC 20515 Main Number: (202) 225-2771