Ryan's Budget Balances, Obama's Budget Continues to Run Huge Deficits
The Ryan budget is in stark contrast to President Obama's budget. Despite raising taxes by more than $1 trillion, Obama's budget never balances, and annual deficits never fall below $400 billion. Ryan's budget, however, would balance the budget by 2024 through spending cuts and entitlement reforms.
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ANNUAL BUDGET DEFICITS, IN BILLIONS OF CURRENT DOLLARS
Sources: Committee on the Budget, U.S. House of Representatives, ÒThe Path to Prosperity: Fiscal Year 2015 Budget Resolution,Ó April 1, 2014, and Office of Management and Budget, ÒOpportunity for All: The PresidentÕs Fiscal Year 2015 Budget, March 4, 2014.