When Congress returns next week, Rep. Paul Ryan (D-Wis.), the new Republican chairman of the House Budget Committee, plans to file a discretionary budget that is $74 billion below President Obama's request, according to a release from Mr. Ryan's office.
Discretionary spending is separate from federal mandatory spending, which includes Medicare and Social Security and takes up two-thirds of the federal budget. Unlike discretionary spending, mandatory spending does not require specific action by Congress to be spent, but it can be cut, too.
Mr. Ryan warned of more cuts to come. "This is just a down-payment by Republicans to get spending under control," he stated. "House Republicans will continue to tackle the country’s fiscal problems by advancing spending cuts and spending reforms, and by charting a new course with a new budget for the upcoming fiscal year.
Mr. Ryan said the federal government has been operating without a budget and is running on a continuing resolution that ends on March 4. "Because five months of the fiscal year will have passed by March 4, 2011, Congress has an increasingly shorter window of time to achieve savings in this fiscal year," he wrote.
Read the release from Rep. Ryan on federal spending.
Read Mr. Ryan's fact sheet on the planned cuts.
Read more coverage of federal spending cuts:
- Senate GOP Bill to Cut Medicare, Medicaid Gets Democratic Supporter
- Federal Deficit Panel's Draft Report Includes Fee-Fix, Cuts for Hospitals
- Federal Debt Panel Proposes 20 Major Cuts for Hospitals, Physicians
Discretionary spending is separate from federal mandatory spending, which includes Medicare and Social Security and takes up two-thirds of the federal budget. Unlike discretionary spending, mandatory spending does not require specific action by Congress to be spent, but it can be cut, too.
Mr. Ryan warned of more cuts to come. "This is just a down-payment by Republicans to get spending under control," he stated. "House Republicans will continue to tackle the country’s fiscal problems by advancing spending cuts and spending reforms, and by charting a new course with a new budget for the upcoming fiscal year.
Mr. Ryan said the federal government has been operating without a budget and is running on a continuing resolution that ends on March 4. "Because five months of the fiscal year will have passed by March 4, 2011, Congress has an increasingly shorter window of time to achieve savings in this fiscal year," he wrote.
Read the release from Rep. Ryan on federal spending.
Read Mr. Ryan's fact sheet on the planned cuts.
Read more coverage of federal spending cuts:
- Senate GOP Bill to Cut Medicare, Medicaid Gets Democratic Supporter
- Federal Deficit Panel's Draft Report Includes Fee-Fix, Cuts for Hospitals
- Federal Debt Panel Proposes 20 Major Cuts for Hospitals, Physicians