Last week, House Budget Committee Chairman Paul Ryan unveiled the new GOP budget, which he says makes the tough decisions necessary to bring our nation back to fiscal responsibility. His plan would reduce projected spending by more than $5.3 trillion over 10 years, address major entitlement reform and balance the budget by 2040. The Republican Study Committee likes a lot of what it sees in the Ryan plan but does not believe it goes far enough. The coalition of House conservatives is offering its own plan – one that will balance the budget within just five years. RSC Chairman and Ohio Rep. Jim Jordan details the blueprint for us. Jordan explains how repealing Obamacare and dozens of redundant programs on health, job training and welfare would make a huge dent. The plan also restores much of the defense spending currently scheduled for major cuts. It honors the spending cuts mandated by the failure of the super committee but no longer demands that it come from national security spending. Jordan explains how just returning discretionary spending to just below 2008 levels would make a huge annual difference and why block granting Medicaid to the states is another huge money saver. He details how entitlement reform would be structured, even though it wouldn’t impact the bottom line in the next decade. Rep. Jordan also explains how the RSC plan will factor into the larger budget debate over the next couple of days.
