Republican Budget Plan to Eliminate National Debt: Ryan

Speaking just hours before the spending plan gets its formal introduction before Congress, Ryan, head of the House Budget Committee, said the debt will peak at 74.5 percent of gross domestic product in 2014 and then drop from there. "We've got to show the country that we can get this situation under control and grow the economy, and that's what we're doing," he said. "So whether (Democratic Senate Majority Leader) Harry Reid is willing to pass this bill or Barack Obama is ready to sign it, I don't know the answer to that question. "What I do know is I can't look my kids and my constituents in the eyes with my conscience being clear and not know that I didn't do everything I could to try and fix this problem before it got out of control."