President Barack Obama releases his ten-year spending plan, and a member of Wisconsin’s congressional delegation says its a recipe for bitter austerity. “It’s really designed to help the president in his reelection campaign,” says Wisconsin congressman Paul Ryan. He says the president “has punted again” when it comes to the debt crisis.
AUDIO: Rep. Paul Ryan (2:20)
Obama’s $3.8 trillion spending plan seeks to pump billions of dollars into the economy while raising taxes on the rich to rein in the nation’s debt. “He’s making it much more likely that people will not be able to count on these benefits they’ve organized their lives around,” says Ryan. “He’s making it much more likely that we’ll have bitter austerity in the near future. He’s making it much more likely that our kids will have a lower living standard, which is a basic violation of the American idea.” Ryan says congressional Republicans will offer their own plan to put the nation on a path to prosperity and debt reduction.
