Janesville Congressman Paul Ryan says the United States is collecting more than enough tax revenue, but spending is also increasing at an alarming rate. While he’s glad most people were able to avoid a tax increase, the recent fiscal cliff deal didn’t cut spending quite as much as the Republican budget hawk would prefer.
Without cuts, Ryan believes that tax increases alone won’t be able to shore up the nation’s spending deficit.
Ryan says he and several other republican lawmakers are working on budget proposals that could revamp both taxes and spending on the federal level. According to Ryan, there’s still a possibility of preserving current retirement and entitlement program.
Ryan says the country may be forced to make its own cuts in the near future, with or without the support of the nation’s chief executive.
Jon Meerdink, WCLO