WASHINGTON (AP) — House Budget Committee Chairman Paul Ryan unveiled an updated Republican budget plan Tuesday that would slash $5.1 trillion in federal spending over coming decade and promises to balance the government’s books with wide-ranging cuts in programs like food stamps and government-paid health care for the poor and working class.
Ryan’s plan would also cut Pell Grants for low-income students and pensions for federal workers. The proposal would reprise a voucher-like Medicare program for future retirees that would be the basis for GOP claims that the measure would drive down government debt over the long term. It also relies on scorekeeping help from the Congressional Budget Office, reflecting the beneficial effects of deficit cuts on long-term economic growth and tax revenues.
