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Paul Ryan Sees Supercommittee Falling Short Of Deficit Goals

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House Budget Chairman Paul Ryan predicted a congressional supercommittee will fall short of its goal of finding $1.5 trillion in savings, while saying it should be able to find roughly half that without raising taxes.

Finding $600 billion in budget cuts ought to be “pretty easy,” said Ryan, pointing to a requirement for automatic cuts of $1.2 trillion, from both defense and nondefense programs, beginning in 2013 if the committee fails to meet its target.

“I think there will be” an agreement, though “I don’t know how large it will be,” Ryan said in an interview on Bloomberg Television’s “Political Capital with Al Hunt” airing this weekend. Ryan, architect of a plan to replace Medicare with subsidies to help the elderly buy insurance, said he expects his party will stand by that proposal.

“We can show many different ways of arriving at $1.2 trillion in spending cuts,” said Ryan, noting that an effort overseen by Vice President Joe Biden came close to that. “We’ve had talks earlier that got very close to that number, so I’d like to think we can get pretty close.”

I suppose the irony of being a "supercommittee" is lost on them.

I wonder how poor the savings would be if they weren't a supercommittee.

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