Republican Budget Plan to Eliminate National Debt: Ryan

Ryan and his group have political guts. Hope there are enough concerned citizens out there to support the Republicans through the 2012 elections for the plan to have a chance to be passed. Our country and way of life are at stake.

Excerpt: The Republican budget proposal will eliminate the national debt while still preserving costly entitlement programs like Medicare and Social Security, Rep. Paul Ryan told CNBC.

Speaking just hours before the spending plan gets its formal introduction before Congress, Ryan, head of the House Budget Committee, said the debt will peak at 74.5 percent of gross domestic product in 2014 and then drop from there.

"We've got to show the country that we can get this situation under control and grow the economy, and that's what we're doing," he said. "So whether (Democratic Senate Majority Leader) Harry Reid is willing to pass this bill or Barack Obama is ready to sign it, I don't know the answer to that question.

"The problem in Washington is, they take any honest and sincere attempt to fix this problem and use it as a political weapon against you in the next election," he said. "We can't let that deter us."

Read full CNBC article here.