Representative Paul Ryan (R-Wisc.), the Chairperson of the House Budget and failed 2012 Republican vice presidential nominee, is about to propose a new budget — according to Business Insider.
Proposed by Speaker John Boehner (R-Ohio), and led by Ryan, the new conservative blueprint is likely to find opposition from a Democratic Party emboldened by the bold liberal agenda drawn by President Barack Obama during his second inaugural address.
Ryan's previous budget, "The Path to Prosperity," which claimed to balance the nation's books by 2040, needed of dramatic overhauls to crucial social programs such as Social Security and Medicaid in order to achieve such feat.
And, if the arithmetic is to add up this time, Ryan's new proposal, that purports to balance the budget for an even closer date (2024) would require of even deeper and draconian cuts to health care, pensions and perhaps education than the ones proposed by The Path to Prosperity Part I.
According to Center for Budget and Policy Priorities' Richard Kogan, Paul's new budget would require $800 billion in savings (cuts). But, from which programs?
As the 2012 Republican presidential ticket, both Mitt Romney and Ryan were criticized for not specifying which social programs would they cut in order to rescue America's economy — as they relentlessly campaigned against what they said were Obama's "runaway spending." Will this time be different?
Does Paul Ryan's new budget stand a chance during Obama's second term?