Ryan’s 2012 Budget Proposal Calls For $179 Billion In Cuts

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Ryan's 2012 budget proposal calls for $179 billion in cutsIf Democrats and Republicans meet in the middle this week and approve a measure to fund the Federal government, Tea Party supporters are likely to condemn any compromise.

Members of the grassroots movement have already slammed top GOP officials, accusing them of breaking their campaign promises to significantly reduce government spending. In response, Republicans have called on fiscally conservative Representative Paul Ryan (R-Wis.) to draft a budget proposal for fiscal year 2012.

On April 5, Ryan introduced The Path to Prosperity calling for $3.53 trillion in Federal spending in fiscal year (FY) 2012, $179 billion less than President Barack Obama's plan. Ryan's proposal, which is backed by other House Republicans, pledges to balance the budget by 2015 and cut $5.8 trillion in spending over the next decade, according to The Wall Street Journal.

The Path to Prosperity stands little chance of passing a Democrat-led Senate and being signed by the President. The proposal, if approved, would repeal Obama's healthcare law, reduce spending on government health-insurance programs and make fundamental changes to Medicare and Medicaid.

Although some liberals may claim that Ryan's proposal would devastate the economy, Tea Party politicians have said that the GOP's cuts are inadequate. Senator Rand Paul's (R-Ky.) budget for FY 2012 calls for a restructuring of the Department of Defense, the repeal of Obamacare and major changes to block granting programs such as Medicaid, State's Child Health Insurance Program and food stamps.

Paul claims that his plan would cut nearly $4 trillion in spending over the next five years. 

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