The chairman of the House Budget Committee says Republicans will oppose tax increases and, as a result, deep, unpopular budget cuts will likely take effect.
Republican Rep. Paul Ryan of Wisconsin told NBC's "Meet the Press" on Sunday that automatic spending cuts are scheduled to take hold because, quote, "Democrats have opposed our efforts to replace those cuts with others."
Democrats have insisted taxes be part of the equation to dodge across-the-board spending cuts that are set to hit the Pentagon and many domestic programs. The spending cuts were set in motion in the hopes of spurring lawmakers to strike a large-scale deal to reduce the deficit.
Ryan was the 2012 vice presidential nominee. He says the country is heading toward a debt crisis if it doesn't confront its spending.
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