But eventually annual deficits are projected to fall to the $400 billion range, enough to stabilize the nation's finances and prevent a European-style debt crisis that could force far harsher steps, Ryan said.
The GOP measure also comes after Obama on Wednesday promised stiffer deficit curbs than contained in his February budget. But after Ryan asked the White House budget office for more details, he was pointed to a news release.
- See editorial cartoons about the GOP.
- Check out a roundup of political cartoons about the budget and the deficit.
- See a slide show of the best cities to find a job.
Reader Comments