We are facing one of the greatest challenges our nation has faced in any of our lifetimes. Our nation is carrying the weight of a crushing debt and deficit. Future generations face the reality that they will shoulder the impacts of this unsustainable path. The way we respond to this challenge will define our generation.
Today, America stands at a crossroads. There are two paths before us. As Americans, we can choose to stay on the current path. Or we can choose to believe in better. This week, Congressman Paul Ryan, the Chairman of the Budget Committee, released his budget proposal for Fiscal Year 2012. The budget proposal is bold. It has been called one of the most courageous budget resolutions proposed over the past 80 years. In no way does it take the easy way out. It approaches areas of our federal budget that, although in dire need of reform, are too often ignored for political reasons.
Whether Democrat, Republican, independent, or otherwise, as Americans we are bound together as we face this national trial. While we have plenty that divide us today, we all have a united interest in a better future tomorrow. I want you to learn more about this plan and to join me as we discuss it, debate it, and build a stronger, smarter, more efficient America. Visit The Path to Prosperity: FY2012 Budget Resolution so you can learn about the new budget proposal.
Key Highlights of the Path to Prosperity FY2012 Budget Proposal
- Cuts $6.2 trillion in government spending over the next decade.
- Extends the ban on earmarks, targets corporate welfare and eliminates hundreds of duplicative programs, bringing non-security discretionary spending to below 2008 levels.
- Restrains government spending to 20% of the economy after ten years and 15% in 2050.
- Cuts $4.4 trillion in deficit spending over the next decade.
- Balances the federal budget and puts the government on track to pay off the debt.
- Ends an onerous, one-size-fits-all approach for Medicaid, converting the federal share of spending into an allotment that gives states the freedom and flexibility to tailor a Medicaid program that fits the needs of their unique populations.
- Strengthens Social Security and forces action from the President and both chambers of Congress to ensure the solvency of this critical program, creating the space for advancing solutions.
Read more about the major provisions of the proposal here.
Video: A Crushing Burden of Debt vs. a Path to Prosperity
In this video, Congressman Paul Ryan provides a visualization of his Path to Prosperity budget proposal. Click the video below or click here to watch.
What Others Are Saying
“Moment of Truth” by David Brooks, New York Times
A Pro-Growth Budget – The Center for Data Analysis at the Heritage Foundation
Congressional Budget Office: Long-Term Analysis
Read More - Additional Resources
The Path to Prosperity Complete Budget Proposal
President Obama’s Budget vs. the Path to Prosperity
Key Themes and Facts