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A Republican walks the walk on cutting the US federal deficit

Business Times - 08 Apr 2011


A Republican walks the walk on cutting the US federal deficit

By LEON HADAR
WASHINGTON CORRESPONDENT

AFTER talking and talking about the need to take control of the growing debt, there are signs that at least some politicians in Washington may be getting serious about tackling the issue. One of the Republican Party's rising young stars, Representative Paul Ryan of Wisconsin, proposed on Tuesday cutting about US$6 trillion from the US federal deficit over the next 10 years. His plan ignited a major debate on Capitol Hill that could produce a powerful political momentum in Washington towards placing the issue of America's crumbling fiscal house on the top of the legislative and policy agendas, and affecting the outcome of next year's elections.

There is a general consensus in Washington that the mounting deficit threatens long-term US economic security and the standard of living of Americans, and that reducing the deficit would require major cuts in …