House Republicans unveiled an ambitious cost-cutting plan Tuesday that would balance the budget in 10 years without raising taxes, while repealing ObamaCare and overhauling entitlements -- a document Democrats are sure to reject but could be used as a negotiating tool in talks with President Obama.
Rep. Paul Ryan, R-Wis., chairman of the House Budget Committee, is sticking by controversial proposals, including one to give future Medicare retirees the option of using government payments for private health care plans.
The plan warns of a looming debt crisis, and endeavors to pay off the debt by 2050.
"We are addressing the most predictable debt crisis in this country's history," Ryan said Tuesday. "Our plan will balance the budget and pay off our debts."
In response, the White House issued a statement complaining that the plan does not include tax increases for top earners and said the president believes it is the "wrong course for America"...