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Some who were watching his speech were quick to pounce on the gaffe, taking to Twitter to point out Ryan's "Freudian slip," according to media reports.

Ryan's new budget proposal would cut spending by $5.7 trillion, reduce the top tax rate to 25 percent, and balance the budget within 10 years.

The plan would make profound changes to government, bringing spending down from 22.2 percent of the economy to 19.1 percent by 2023. It doubles down on many of the proposals Ryan advanced as his party’s vice presidential candidate in 2012.