Republican Budget Plan to Eliminate National Debt!

House Budget Chairman Paul Ryan,
holds a copy of his budget proposal

Rep. Paul Ryan presents the Republican's budget proposal that will eliminate the national debt and preserve entitlement programs like Medicare and Social Security.

Speaking just hours before the spending plan gets its formal introduction before Congress, Ryan, head of the House Budget Committee, said the debt will peak at 74.5 percent of gross domestic product in 2014 and then drop from there.

"We've got to show the country that we can get this situation under control and grow the economy, and that's what we're doing," he said. "So whether (Democratic Senate Majority Leader) Harry Reid is willing to pass this bill or Barack Obama is ready to sign it, I don't know the answer to that question. Read More

By Joseph Hovanec Jr

Meanwhile Obama spoke to the media after meeting at the White House with Leaders of both parties. He indicated that the proposals presented thusfar to avoid a government shutdown are non starters.

It is a sad state of affairs when the President and Democrats are insisting on compromise now when they were not willing to compromise while they had total control of both houses and the White House. 

They also failed to pass a budget last year when it was due and they had that control. They could have passed a budget at any time last year and there would have been nothing the Republicans could have done to stop them. Instead of doing their job they chose to ignore the budget while they played politics in their failed attempt to hold onto power in the House. 

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