Headlines for April 06, 2011

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GOP Calls for $5.8T in Budget Cuts, Lower Taxes for Corporations and Top Earners

Republicans have unveiled a budget proposal for 2012 that cuts more than $5.8 trillion in government spending over the next decade, while gutting the nation’s Medicare and Medicaid programs. The plan also calls for reducing the top corporate and individual tax rates to 25 percent. House Budget Committee Chair Paul Ryan of Wisconsin unveiled the plan.

Rep. Paul Ryan: "[Obama] offers no reforms to save our vital health and retirement security programs, and no leadership. Our budget charts a different course. It’s very different than what the President has offered. For starters, we proposed to cut $6.2 trillion in spending over the next 10 years from the President’s budget. We reduced the debt as a percent of the economy. We put the nation on the path to actually pay off our national debt. Our goal here is to leave our children and our grandchildren with a debt-free nation."

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