Paul Ryan: Automatic Spending Cuts Going To Happen

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Image uploaded from a quicklink In the debate over how to get America's fiscal house in order, Democrats have argued for a combination of tax increases and public spending cuts. Republicans have favored spending cuts without higher taxes. The House last Wednesday passed a Republican plan to allow the government to keep borrowing money through mid-May, clearing it for quick enactment after the top Senate Democrat and White House endorsed it. The measure includes a measure requiring the House and Senate to pass a formal budget resolution by April 15. Under the provision, if either chamber fails to meet this deadline, lawmakers' pay would be suspended until they pass a budget.

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