Ryan on Trillion Dollar Deficits: ‘The Baby Boomers Retiring Was Going To Do That’

‘These deficit trillion dollar projections have been out there for a long, long time’


RYAN: "The baby boomers retiring was going do that. These deficit trillion dollar projections have been out there for a long, long time, why? Because discretionary spending is going over $300 billion and tax revenues are still rising and income tax revenues, and corporate rate still rising and mandatory, and why does it grow $2 trillion, because the boomer generation is retiring and we have not prepared these programs. So really, that’s where the rubber hits the road. I think the most irresponsible Congress is the one that created brand-new entitlement and that to me is the big mistake and we can fix these programs and still meet the mission for them, but the way they’ve been designed in the 20th century doesn’t work. That’s the one thing that I really wish we could get done sooner rather than later and I’m convinced it will happen, why? Because it’s got to happen."

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