Looking at Ryan's budget plan
In choosing Rep. Paul Ryan (R-Wisc.) as his vice presidential candidate, Mitt Romney has now associated himself with Ryan's budget proposal. Ryan's plan would cut total government spending from the current level of 24 percent of gross domestic product to 19.8 percent in ten years, reducing the deficit by about $3.3 trillion over the decade, but revenue would also drop by $2 trillion in the same time period and still would not balance the budget. Read related article.
Sources: Staff reports, U.S. House of Representatives Committee on the Budget, Committee for a Responsible Federal Budget. The Washington Post.