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April 01, 2014

Ryan Introduces Budget He Says Will Eliminate Deficit

Rep. Paul Ryan (R-WI) introduced "a tough, election-year budget that purports to come into balance by 2024, in large part through steep cuts to Medicaid and food stamps and the full repeal of President Obama's health care law, just as millions begin to see its benefits," the New York Times reports.

"But even with those cuts, Mr. Ryan, the House Budget Committee chairman, is counting on a boost of economic growth to balance the budget, a boost he says will be gained by reducing the deficit. Many economists believe such dramatic spending cuts -- especially those affecting the poor -- would have the opposite effect, slowing the economy and lowering tax receipts."

Wall Street Journal: "Building in assumptions about economic growth is a controversial part of budget math, and Mr. Ryan didn't include the same assumptions in prior proposals. This sort of analysis is popular with Republicans, who often cite it in proposals to cut taxes."


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