Mr. Ryan's Basic Plan

Mr. Ryan has written two budgets, both of them passed by the House but never acted on by the Senate, that would have kept tax rates low while deeply slashing spending, including making major changes to entitlement programs.
The latest plan, which Mr. Ryan dubbed the “Path to Prosperity,” proposed turning Medicare into a voucher-like program for seniors, and overhauled Medicaid, turning the federal-state health program for the poor into a block grant to the states, similar to welfare.
His budget spends 15 percent less than Mr. Obama would over the next decade, and he would rack up $3.1 trillion in cumulative new deficits during that time, which is less than half of the deficits the White House says Mr. Obama’s budget would produce.
Over the long run Mr. Ryan’s budget would cap taxes at 19 percent of gross domestic product — slightly higher than the post-World War II average — but would bring spending down to 16 percent of GDP by 2050, which would mean cutting about 40 cents out of every dollar spent if it were to happen today. http://www.washingtontimes.com/news/2012/aug/11/obama-and-ryan-have-tangled-repeatedly/