The US House of Representatives has passed Rep. Paul Ryan’s FY 2013 budget, largely along party lines. The final vote was 228-191, with the vast majority of Republicans voting for passage, with every Democrat and a small handful of Republicans voting no (some of whom supported a more ambitious proposal). The House has thus fulfilled its legal obligation under the 1974 Budget Act, and has done so on time.
(1) It reduces spending and eventually balances, unlike any Democrat alternatives, such as they even exist.
(2) It restores spending and revenue levels to their historical norms of roughly 20 and 18 percent, respectively, by 2015.
(3) It reduces deficits by $3 Trillion compared to President Obama’s over the next decade, and begins to control our growing national debt.
(4) It lowers, flattens, and simplifies personal and corporate income taxes while limiting and eliminating spending in the tax code.
(5) It uses a bipartisan framework to reform and save a crashing Medicare program for future seniors.
(6) It repeals Obamacare in its entirety.