Ryan: Romney Has Plan to Reverse Military Budget Cuts
GOP vice presidential candidate Rep. Paul Ryan said Thursday that he and Mitt Romney have a plan to pass a budget fix quickly in January if they win the election and Congress fails to act to stave off deep defense cuts before then.
Speaking at an event on defense issues in Fayetteville, N.C., Ryan warned that looming across-the-board budget cuts totaling hundreds of billions of dollars - called sequestration — could prove devastating to the military, and he blamed President Obama and Democrats for failing to pass an alternative budget to prevent the cuts.
Under a deficit reduction deal reached a year ago, deep automatic spending cuts in defense and other federal programs will go into effect at the end of the year unless Congress passes an alternative plan.
Ryan said “it is our goal to pass a sequester replacement bill” before the end of the year, but it is unclear whether Democrats and the president will be willing to do so in a post-election lame-duck session of Congress.