Rep. Paul Ryan: Democrats WILL Demagogue Republicans Budget Plan

Video:  Rep. Paul Ryan: Democrats WILL Demagogue Republicans Budget Plan

Republican Budget Plan to Eliminate National Debt: Ryan (CNBC)

CNBC ^ | April 5,2011 | Jeff Cox  -  Tuesday, April 05, 2011 8:51:12 AM · by Hojczyk · 28 replies

The Republican budget proposal will eliminate the national debt while still preserving costly entitlement programs like Medicare and Social Security, Rep. Paul Ryan told CNBC. 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...

WATCH Paul Ryan Explains $6.2 Trillion Budget Cuts to Glenn as Gov’t Shutdown Looms GOVERNMENT

"We owe this to our country."

It’s a bold plan to slash government spending. But so far, it’s falling on deaf ears.

Republicans in the House today unveiled a new plan to cut $6.2 trillion from the federal budget over the next 10 years. Spearheaded by House Budge Committee Chairman Paul Ryan (R-WI), the proposal is meant to provide a framework for government spending and fiscal responsibility.

On radio today, Ryan talked with Glenn Beck about what’s exactly in the proposal, and explained why it’s important to pass it.

“We’re talking about shrinking the Federal workforce by 10% over the next three years through attrition, pay freezes in the Federal workforce,” he explained to Beck. “We’re talking about cutting discretionary spending on government agencies below 2008 levels. We’re talking about entitlement reform, block granting Medicaid to the states, and doing welfare reform 2.0 which is food stamps, housing programs.”  Read More »

GOP introduces one-week stopgap with $12B in spending cuts

The Hill ^ | 4/5/11 | Molly K. Hooper and Russell Berman  -  Tuesday, April 05, 2011 8:37:09 AM · by The Big Boo · 16 replies

Republicans on Monday night introduced a measure to fund the military through September and government operations for one more week. House Speaker John Boehner (R-Ohio) told his conference about the legislation — which contains $12 billion in spending cuts — during a Monday night meeting, his office said. The move is intended to prevent a government shutdown that would start after Friday unless Congress approves another measure to fund the government.

White House Orders Agencies To Prep For Government Shutdown

TPM ^ | April 5, 2011, 8:43AM | Brian Beutler |  -  Tuesday, April 05, 2011 9:34:49 AM · by 11th_VA · 25 replies

It's not just the House of Representatives. In another sign that neither side in the spending cut fight is confident that a government shutdown can be avoided, the White House has ordered federal agencies to prep for a government shutdown. Ed O'Keefe at the Washington Post obtained the memo from a federal official, and confirmed its authenticity with the Office of Management and Budget. "[G]iven the realities of the calendar, good management requires that we continue contingency planning for an orderly shutdown should the negotiations not be completed by" April 8, the memo reads. More guidance should be forthcoming today....

Meet The 171 Banks For Which The Margin Of Failure Is One Thousand Dollars: At this point the majority of the population is transfixed by the biggest borrowers from the discount window. Yes, we know by now that the bulk of these were foreign banks, primarily Dexia and Depfa, but that is simply because only Bank Holding Companies, or depository institutions (and yes, last we checked Goldman deposit branches are still sorely missing), are allowed discount window access. more

Two separate threads…

IMF Chief: 'Black Swans' Still Haunt Global Finance(many are swimming around)

IMF economists see dire future for US taxpayers -  AFP ^ | 04/04/2011

Americans will need to pay much heavier taxes and accept less from public healthcare to put state finances on a sustainable track, according to an IMF study published Monday.

"The United States is facing an untenable fiscal situation due to the combination of high fiscal deficits, an aging population and rapid growth in government-provided healthcare benefits," three International Monetary Fund economists said in a report.

(Excerpt) Read more at breitbart.com ...

h/t to Jean Stoner