Ryan to tell nation America is at fiscal tipping point

“This is a future in which we will transform our social safety net into a hammock, which lulls able-bodied people into lives of complacency and dependency. Depending on bureaucracy to foster innovation, competitiveness, and wise consumer choices has never worked — and it won’t work now. We need to chart a new course,” he will say.

Ryan, 41, will seek to get his message across in plain terms by citing his own three children's futures.

“The debt will soon eclipse our entire economy, and grow to catastrophic levels in the years ahead. On this current path, when my three children — who are now 6, 7 and 8 years old — are raising their own children, the federal government will double in size, and so will the taxes they pay,” he will say. “Frankly, it’s one of my greatest concerns as a parent — and I know many of you feel the same way.”

Ryan will say that both Democrats and Republicans have to accept blame for out-of-control spending.

“So hold all of us accountable. In this very room, the House will produce, debate and advance a budget. Last year — in an unprecedented failure — Congress chose not to pass, or even propose a budget. The spending spree continued unchecked. We owe you a better choice and a different vision,” his prepared remarks state.

As expected, the Budget Committee chairman will say that Republicans will demand spending cuts before voting to raise the nation's $14.3 trillion debt ceiling.