Paul Ryan Releases Plan to Balance the Budget Within 10 Years

Paul Ryan is back!

He says he can grow the economy and get to a balanced budget within 10 years.

The basic idea?

1. Tax reform. Eliminating loopholes. Reducing the top rate significantly. He wants to get to just two tax brackets.

2. Cutting discretionary spending. He proposes a hard cap on spending relative to GDP. He wants more spending block granted to states.

3. He favors killing Obamacare, although as Phillip Klein notes, he assumes Obamacare's Medicare savings stay.

4. Establishing his voucher-based alternative to Medicare.

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