House GOP Budget Plan Seeks More Than $5 Trillion in Cuts

POLITICS -- April 5, 2011 at 1:26 PM EDT

House GOP Budget Plan Seeks More Than $5 Trillion in Cuts

Rep. Paul Ryan, R-Wis., unveiled a House GOP budget proposal Tuesday that seeks some $5.8 trillion in cuts, including a reshaping of key entitlement programs and some tax reforms.

The proposal, which is not a piece of legislation but rather a framework for future action, includes changes to how the government funds Medicare and Medicaid, but largely sidesteps changes to Social Security.

"We're actually saving Medicare and Medicaid, making them solvent for future generations," Ryan said, with several GOP lawmakers standing nearby. "And, yes, we're cutting spending. We're cutting a lot of spending, because government is spending way beyond its means."

Read more about Ryan's preparation for the budget plan and the possible political implications in Tuesday's Morning Line.

Read the full proposal here:

We'll have an interview with Ryan on Tuesday's NewsHour and more reactions to the GOP budget framework.

And you can revisit the details of President Obama's budget plan in this segment from February.

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