Ryan Says U.S. Budget Needs Spending Cuts, Not Increased Revenue

Reduced spending for entitlement programs such as Medicare and food stamps is needed to eliminate deficits within 10 years, said U.S. House Budget Committee Chairman Paul Ryan.

“Our goal is to get cuts in reforms that put us on a path to balancing our budget within a decade,” Ryan, a Wisconsin Republican, said on NBC’s “Meet the Press” program yesterday. “Spending is the problem, revenues aren’t the problem.”