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FBN’s Rich Edson breaks down the budget proposal from the House Budget Committee Chairman.
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This is what we already knows.
Two new tax brackets 45 and 10% local attacks right reform of mega cap all right it is now 10 o'clock -- -- and what LC gulf forests.
Well Stuart here's your budget fight House Budget Committee chairman Paul Ryan proposes spending nineteen billion dollars less in 2013 and Democrats and Republicans.
Agreed to this summer Republicans insist that deal is only -- cap.
Democrats call this a breach of -- Republicans also want to repeal the president's health care law.
The house Republican budget cancels out next year's defense cuts with spending caps elsewhere in the budget.
Democrats want to run on the Republican Medicare proposal Ryan has some cover here with this budget he proposes an overhaul similar to a bipartisan framework.
He wrote with democratic senator Ron widen in allows retirees to choose a private plan.
Or traditional Medicare starting in 20/20 three Ryan would curb future increases.
In the government's Medicare share -- -- -- -- a lot of extra detail which we did not know previously what I'd just listened to very carefully.
Reform and the repeal I should say repeal Obama cat that's in the Ryan plan flat out did it.
It is second year in a row he's decided to repeal the president's health care -- says repeal the cuts to Medicare everything so this is a comprehensive.
Tax reform and simplification.
And reform of entitlements some way down the road that's that this is all across the -- of this is the budget plan right.
It is he does leave details out on Social Security reform but he also leaves many of the details on tax reform out to the ways in -- committee but he does include that in his framework all right Richardson thanks very much indeed right on the dot at 10 o'clock we've got it all for you rich thanks a lot.
