Paul Ryan gives a couple ideas to cut the deficit immediately: Rescind the remainder of the Stimulus, Rescind the Tarp funds, Federal hiring and pay freeze, go back and cut discretionary spending to 2008 levels
"I don't think it's a good idea when we're trying to come out of a jobless recovery and a slow-growth economy. We have employment at almost 10%, the last thing we should do is raise taxes on the economy, the worst thing for deficit reduction is a slow economy you hit small businesses with these tax rate increases and you'll slow the economy
Further, 75% of those who will get hit with the tax rates are small businesses, tens of millions of your jobs come from small businesses. If you try to blame them for all the fiscal problems, the numbers don't add up. at best, 14% of the evaporation all came from other things. So what Joe earlier said is right which is the taxes will go up. that's a mistake, it's going to hurt the economy"