Ryan: Debt on Track to Hit 800 Percent of GDP; 'CBO Can't Conceive of Any Way' Economy Can Continue Past 2037
Wednesday, April 06, 2011
By Nicholas Ballasy
(CNSNews.com) – House Budget Chairman Congressman Paul Ryan (R-Wis.) said President Barack Obama’s budget strategy is to “do nothing, punt, duck, kick the can down the road” while the debt remains on track to eventually hit 800 percent of GDP. Ryan added that the CBO is saying it "can't conceive of any way" that the economy can continue past 2037 given its current trajectory.
Ryan also said that the House Republicans’ FY2012 budget, which he unveiled yesterday, would save Medicare and help the United States avoid a debt crisis.