April 1, 2014 / 2:30 PM / in 4 years

CORRECTED-U.S. Republican budget proposes deep cuts to social programs

(Corrects savings from repeal of Obamacare to $2.1 trillion in last paragraph)

WASHINGTON, April 1 (Reuters) - U.S. Representative Paul Ryan, the leading Republican voice on budget policy, rolled out a new fiscal blueprint on Tuesday that calls for deep cuts in domestic programs, increased defense spending and a goal of erasing annual deficits in 10 years.

Ryan’s budget, called the “Path to Prosperity,” has virtually no chance of becoming law but is expected to serve as a campaign manifesto for Republicans in November’s congressional elections. It revives cuts in social safety net programs that Ryan, who chairs the House Budget Committee, has proposed in other recent budgets.

The budget plans calls for savings over 10 years of $5.1 trillion, with the goal of reaching balance by 2024 with no new tax revenues.

It proposes to reap nearly $2.1 trillion in 10-year budget savings by killing President Barack Obama’s health care reforms and slightly revises Ryan’s sweeping reform plan for Medicare, the popular health care program for the elderly, by phasing in changes for workers a year older than in past proposals. (Reporting by David Lawder; Editing by James Dalgleish)

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