House Committee On The Budget

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** FILE ** In this April 13, 2011, file photo, Republican Vice Presidential candidate, House Budget Committee Chairman Paul Ryan, R-Wis., takes questions in reaction to President Obama's speech on a federal spending plan, during a news conference at the Capitol in Washington. (AP Photo/J. Scott Applewhite, File)

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** FILE ** Republican presidential candidate, former Massachusetts Gov. Mitt Romney, left, shakes hands with U.S. Rep. Paul Ryan, R-Wis., chairman of the House Budget Committee, right, before speaking with supporters of Wisconsin Republican Gov. Scott Walker at a phone bank during a campaign stop in Fitchburg, Wis., in this March 31, 2012, file photo. (AP Photo/Steven Senne, File)

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** FILE ** House Budget Committee Chairman Rep. Paul Ryan, R-Wis. introduces Republican presidential candidate, former Massachusetts Gov. Mitt Romney before Romney spoke at the Grain Exchange in Milwaukee, in this April 3, 2012, file photo. (AP Photo/M. Spencer Green, File)

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"This is a major action-forcing event. I'm not saying there will be a grand bargain during the lame-duck session but I would certainly hope that we reach some way to sort-of structure [or] at the very least create a process in which a credible balanced deficit reduction plan can be reached." - Rep. Chris Van Hollen of Maryland, top Democrat on the House Budget Committee. (Associated Press)

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** FILE ** In this June 1, 2011 photo, House Budget Committee chairman Rep. Paul Ryan, Wisconsin Republican, is seen outside the White House in Washington. House Republicans follow up their frugal — but nonbinding — tea party budget with less stringent cuts. (AP Photo/Charles Dharapak, File)

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**FILE** Federal Reserve Chairman Ben Bernanke testifies Feb. 2, 2012, on Capitol Hill before the House Budget Committee. (Associated Press)

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** FILE ** House Budget Committee Chairman Rep. Paul Ryan, Wisconsin Republican, speaks about his budget plan during a news conference on Capitol Hill in Washington, Tuesday, March 20, 2012. (AP Photo/Jacquelyn Martin)

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**FILE** Treasury Secretary Timothy F. Geithner testifies Feb. 16, 2012, on Capitol Hill before the House Budget Committee hearing on President Obama's fiscal 2013 federal budget. (Associated Press)

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Cheryl Kitchens, a Government Printing Office receiving clerk, delivers the printed version of the Office of Management and Budget's fiscal 2013 budget on a pallet to the House Committee on the Budget in the Cannon House Office Building on Capitol Hill in Washington on Monday, Feb. 13, 2012. (Rod Lamkey Jr./The Washington Times)

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Federal Reserve Chairman Ben Bernanke's testimony before the House Budget Committee on Feb. 2, 2012, is visible on a television screen on the floor of the New York Stock Exchange. (Associated Press)

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Federal Reserve Chairman Ben S. Bernanke testifies on Capitol Hill before the House Budget Committee on Thursday, Feb. 2, 2012, in Washington. (AP Photo/Carolyn Kaster)

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House Budget Committee Chairman Rep. Paul Ryan, Wisconsin Republican, has developed a proposal with Sen. Ron Wyden, Oregon Democrat, that would keep traditional Medicare as an option, competing with private plans. People now 55 or older wouldn't have to make any changes. (Associated Press)

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House Budget Committee Chairman Rep. Paul Ryan, Wisconsin Republican, has teamed with Sen. Ron Wyden, Oregon Democrat, to offer offering seniors a choice between private plans and a traditional Medicare plan. (Associated Press)

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**FILE** Rep. Chris Van Hollen of Maryland, the top Democrat on House Budget Committee, listens Sept. 8, 2011, as the Joint Select Committee on Deficit Reduction, often called the "supercommittee," holds its first organizational meeting on Capitol Hill. (Associated Press)

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House Minority Leader Nancy Pelosi, California Democrat, accompanied by Rep. Chris Van Hollen, Maryland Democrat, who is his party's ranking member on the House Budget Committee, gestures during a news conference on Capitol Hill in Washington on Thursday, April 14, 2011. (AP Photo/Evan Vucci)