Representative Paul Ryan (R-WI), Chairman of the Budget Committee, released the House GOP ten-year budget proposal, to start in 2012. They’re calling it “The Path to Prosperity,” and it serves as an alternative to President Obama’s proposal. Compared to baseline numbers, the Path to Prosperity cuts spending by $5.8 trillion–$6.2 trillion less than the President’s proposed budget–over the next ten years.
The discretionary budget sees the largest cuts, $830 billion in defense and $1.6 trillion in non-defense. The defense budget in Rep. Ryan’s plan not only accepts the proposals both endorsed by President Obama and laid out by defense Secretary Robert Gates, but it also cuts spending in every other category. Reform plans for both Medicare and Medicaid in this plan are wildly different than any seen in the recent past, and in the case of Medicaid finds $771 billion in savings. This budget not only finds a way to cut the massive waste in these entitlements, making them more efficient, but it also lays out a plan to keep them efficient for future generations who may need them.