House Republicans unveiled a budget proposal Tuesday that they claimed would avert a debt-driven "economic collapse" by cutting more than $6 trillion over the next decade.
The proposal, unveiled by House Budget Committee Chairman Paul Ryan, R-Wis., would overhaul two major entitlement programs and impose caps on government spending, with the goal of stabilizing and eventually paying down the debt. It is literally trillions of dollars apart from the budget President Obama released earlier in the year, and its release marks the start of what is expected to be a drag-out budget fight in Congress.
"Our goal here is to leave our children and our grandchildren with a debt-free nation," Ryan said Tuesday. The congressman had tough words for Obama's 10-year budget plan, accusing the White House of speeding up the country's "descent into a debt crisis" by growing government...