House Budget Committee Chairman Rep. Paul Ryan (R-WI) has plenty on his plate to worry about, between the threat of another Standard & Poor’s debt downgrade and the world market’s panic over the U.S.’s economic woes.
At least one of his problems, however, is not so super. Ryan would like to think of it more as a “select problem.”
On Fox News Sunday, Ryan said that what has popularly been dubbed the “super committee,” the bipartisan group responsible for making further spending cuts before November, he prefers to be called a “select committee.”
“I don’t think this is going to be a committee that fixes all of our fiscal problems,” Ryan said.
The committee members — six Democrats and six Republicans — will be announced by congressional leaders by August 16. Ryan said he hasn’t been told whether he’ll be on the committee.
He also called the debt downgrade “vindication” of the Republicans’ proposed budget plan, which would have made drastic cuts to entitlement programs and ended Medicare as it exists today.
“We more or less saw [the downgrade] coming because we are the wrong fiscal path,” Ryan said. “We’ll find out what spike in rates we are going to get. Obviously not only does it hurt the federal government and its ability to close deficits, but it hurts people. Car loans, home loans, all these things are going to go up. And so, it is because Washington has not gotten its fiscal house in order.”