GOP Budget is Serious Plan for Debt Reduction

The budget battles of the past few days confirm vast differences between Democrats and Republicans when it comes to fiscal priorities. With the nation mired in a continuing recession and headed gradually but inevitably toward a debt crisis, the Democratic majority last year failed to pass a budget or any funding bills for 2011. When the Republican majority took control of the House in January and quickly began cutting spending, Senate Democrats resisted

Their refusal to accept reasonable spending cuts continued for almost two months, bringing the federal government to the brink of a shutdown -- all in the name of maintaining record-high spending levels. With the support of the American people, Republicans remained committed to reducing Democrats' disastrous deficits and succeeded in avoiding a shutdown and achieving the biggest spending cut in American history.

Now that we've cleaned up the 2011 budget mess created by the former Democratic majority, we can move on to considering a budget for 2012. And House Budget Committee Chairman Paul Ryan has proposed a budget that demonstrates yet again which party is serious about preventing a debt crisis.

Where Obama's 2012 budget creates $8.7 trillion in new spending, Ryan cuts $6.2 trillion over ten years. The Republican plan posts a 2012 deficit under $1 trillion and reduces deficits by $4.4 trillion, while Obama's plan would deliver the fourth consecutive yearly deficit exceeding $1 trillion.

The GOP proposal recognizes two inescapable facts: our $14 trillion debt cannot be sustained, and it can't be solved without addressing the 60 percent of the budget devoted to entitlements.

Reforming Medicare, Medicaid, and Social Security is vital not only to getting debt under control but also to rescuing the programs themselves from insolvency. This budget doesn't affect benefits for those 55 and older, but benefits won't be there at all for younger generations unless we take action. Giving future Medicare beneficiaries access to the same health care program enjoyed by members of Congress will inject competition to the outdated, overpriced system, reducing costs and increasing choice. Converting the federal portion of Medicaid spending into block grants will save $750 billion over ten years and give state governments the flexibility they've long sought to make their own decisions about how best to serve the needs of their populations.

For Social Security, the plan includes a trigger ensuring prompt legislative action. Once the Board of Trustees determines the program is insolvent, the president, along with both houses of Congress, will be required to submit plans to balance the fund. As of this year, Social Security is already paying out more in benefits than it collects in taxes, so the trigger provision will be activated very soon and the Budget Committee will begin work on a serious proposal shortly.

From entitlements to tax reform and defense spending, the Republican budget leaves no risk untaken. The collective political wisdom of decades teaches that you don't tackle Medicare, Medicaid, or Social Security -- much less all three -- in an election year. President Obama certainly heeded this dictum in his own anemic budget. Congressional Democrats may decide it is in their political interest to hurl criticism from the cheap seats rather than introduce their own plan into the arena.

But this approach would be both irresponsible and indifferent to the wishes of the American people. The financial meltdown of 2008 and the ongoing recession have provided a very painful and instructive preview of what is in store if we continue down the current path. Voter demand for spending cuts is at an all-time high, and we've already seen the effects in the 2010 midterm landslide. Polls show widespread recognition that our children and grandchildren face a sharply diminished standard of living if we do not take action to reduce the debt. Thanks to Obama's timidity, Paul Ryan and House Republicans are currently in possession of the only serious plan to do that, and I'm proud to serve on the Budget Committee that produced it. The billions of dollars we just cut for 2011 are important, but I look forward to passing a 2012 budget that cuts trillions.