First District Congressman Paul Ryan has been chosen to be a part of today's White House summit on fiscal responsibility. Calling it "an explosion that is about to occur," the Janesville Republican says his biggest concern lies with all the debt from the new stimulus package. "We've got to reform these (entitlement) programs, so that America can maintain its prosperity," says Ryan . "By the time my kids are my age, and my kids are 4, 5 and 7, they will have to pay literally double the amount of taxes we have to pay."
"The sooner we tackle these huge fiscal challenges in this country the better off the entire nation's going to be, the better off the next generation's going to be," says Ryan. "And not one party can dominate this, it's going to have to be a bipartisan deal."
Ryan says the present level of financing and spending cannot be sustained. "Let's start seriously talking about how to negotiate and compromise reforms to these finances, which because of the fiscal crisis have just accelerated and gotten worse." Ryan is the ranking member of the House budget committee and was tabbed to lead breakout sessions during the White House summit on budget reform and the budget process.