When Rep. Paul Ryan sent his alternative budget proposal to the Congressional Budget Office to be scored, there was a bit of a caveat: The CBO doesn't estimate revenues. That's the job of the Joint Committee on Taxation (yes, Washington is weird). So the CBO and Ryan's staff agreed to assume that under Ryan's plan, tax revenues remained at about 19 percent of GDP.
President Obama made a pledge to cut the deficit in half by the end of his first term. Instead it exceeded a trillion dollars for four straight years.
Indeed, the president could not even make a pledge made in September to reduce the deficit to $956 billion. Finally, just to keep the deficit at $1.33 Trillion, look at the tax hikes Obama proposes.
Yesterday, Rep. Paul Ryan said that he plans to seek the chairmanship of the House Ways and Means committee, according to the Wall Street Journal. This is a big hint that he isn't planning on running for president in 2016.