Statement by Ron Paul on House Passage of Paul Ryan Budget

LAKE JACKSON, Texas — 2012 Republican Presidential candidate Ron Paul released the following statement concerning Rep. Paul Ryan's budget.

Rep. Paul was unable to make the vote on his colleague's budget legislation because he was en route to an event in Wisconsin where thousands of supporters were waiting to hear him speak about issues that include fiscal restraint. Below find comments from Rep. Ron Paul:

"Our nation is in dire fiscal crisis to the extent that if reforms are not instituted through the regular process of Congressional budgeting, then they will have to take place in a scenario closer to the reforms now addressing European fiscal crises.

"That is, if we don't make real reforms today, tomorrow we will face the threat of unfunded obligations, an inflation tax that hurts low- and fixed-income Americans, and the emergency implementation of painful austerity measures not yet experienced in our nation.

"I sympathize with my friend Rep. Paul Ryan's aim in reducing federal debt, reforming entitlements while protecting those who currently depend on them, and reducing taxes. Unfortunately, Mr. Ryan's budget assumes that the federal government can and should continue all its current activates, the welfare state just needs to be run in a more efficient manner.

"The Ryan budget reduces the federal government's debt burden by trillions of dollars yet it does so in decades and not immediately, as our severe debt crisis warrants. Washington has a debt problem because the federal government spends too much, and the federal government spends too much because it tries to do too much. Any budget plan will fail to make the serious and timely spending cuts needed as long as it accepts the premise that Washington should run the economy, run our lives, and run the world.

"It saddens me to see Rep. Ryan and his plan targeted for demagoguery by those on the left since the reforms he is proposing to the full Congress are rather insignificant. Attacks of these kinds have a chilling effect on the many voices calling for fiscal restraint, and it is unfortunate that criticism of this kind gains attention while our fiscal house is in disorder and future generations' prosperity is jeopardized.

"I, however, will not remain silent about our spending-fueled debt crisis. In fact, condemning the outsize growth in government that perpetuates spending and borrowing in the first place is a prominent feature of my candidacy.

"My 'Plan to Restore America' is an economic blueprint that cuts federal spending by $1 trillion in year one, and balances the federal budget in year three. The plan provides a roadmap for authentic reforms by curtailing unnecessary spending the nation simply can no longer afford.

"Something I hope to do as your President is to assemble those on both sides of the aisle for a civil discussion about the seriousness of our debt and spending crises, and that is partly why I am seeking the presidency.