Paul Ryan’s budget makes big Medicare changes

The House Republican 2015 budget, penned by the Wisconsin Republican, will seek to shave federal spending by $5 trillion by offering changes to social welfare programs, ending government ownership of Fannie Mae and Freddie Mac and repealing Obamacare…

“The Path to Prosperity balances the budget by tackling the drivers of our debt: autopilot spending and interest payments,” the Republican’s office writes in a description of the budget. “It strengthens critical programs like Medicare by giving seniors more control over their health-care. CBO has said that such a reform would not only help the federal government save money but help seniors save money as well.”

The document also helps define the 2012 vice presidential nominee’s own fiscal vision as Ryan seeks to map out his own political future, whether in the House or in a bid for higher office.

After being marked up in committee, the budget will hit the House floor next week, GOP leadership staff have said. But it won’t go anywhere in the Democratic-controlled Senate, where Senate Budget Committee Chairwoman Patty Murray (D-Wash.) doesn’t plan on introducing a budget for next year.