House Budget Committee chairman Paul Ryan (R., Wisc.) has announced spending limits on this fiscal year’s budget that will roll back spending on non-security discretionary spending to the levels it was at in 2008 prior to the stimulus and bailouts. The spending limits set are $74 billion less than the amount requested by President Obama in his budget.
“Last year, House Democrats failed to pass, or even propose, a budget and the spending binge continued unchecked,” said Ryan in a statement. “After two consecutive trillion dollar budget deficits and with unemployment remaining unbearably high, we must chart a new course.
“The spending limit measure marks another step in House Republicans’ continued efforts to change Washington’s pervasive culture of spending,” Ryan added.