Ryan talks debt/deficits at GOP Convention

Last night, Congressman Paul Ryan (R-WI) formerly accepted the Republican Party’s nomination for Vice President.  His speech at the convention centered mostly around restoring America to sound fiscal footing.

“In this generation, a defining responsibility of government is to steer our nation clear of a debt crisis while there is still time.  Back in 2008, candidate Obama called a $10 trillion national debt ‘unpatriotic’ – serious talk from what looked to be a serious reformer,” said Ryan.  “Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined.  One president, one term, $5 trillion in new debt.”

Ryan went on to promise that under a Romney/Ryan administration, “…we will keep federal spending at 20 percent of GDP, or less.  That is enough.”

Americans for a Balanced Budget President, Dee Stewart, tweeted from the convention floor, “[I am] encouraged by Ryan’s proposal to limit federal spending to 20% of GDP.  It’s a step in the right direction!

Click here to watch the full speech on YouTube.


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