This piece is worth watching:

My only quibble with Ryan’s approach here is that he lets Huffington get away with pretending that deficit spending has no cost. She asserts that cuts in spending will adversely impact beneficiaries of government services. At the margin, she’s undoubtedly right. If you dramatically reduce spending (or growth in spending) you’ll be taking services away from those who otherwise would have received them.

However, you also reduce the liability you impose on future taxpayers to pay for the debt you created. So while Huffington acts as if Ryan needlessly proposes a cut in services to those who need them, the fact is that these cuts are not only not drastic, they also reduce the burden we put on out children.