stage. peter doocy live in washington with a closer look at that. hello, peter. >> reporter: mitt romney's new running mate says his plan would balance the budget by 2040 but congress needs to reform entitlements and cut $5 trillion in spending over a decade, repeal obama care and enforce is medicaid cuts. he tried to explain to the masses why he supports such deep cuts with a flashy online video and said the whole plan is to offer an alternative to the president's ideas. >> we feel we have a moral and legal obligation if we don't like the direction the president is take the country if we tonight want to see a debt crisis we should do something about it. we have a law that says congress has to pass a budget every year. we think we he should follow the law. the senate for three years today has decided not to follow that law. >> reporter: but president obama has said that he thinks congressman ryan's budgets are trojan horse and that republicans want to impose a

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