(CBS News) Below is a transcript of "Face the Nation" on March 17, 2013, hosted by CBS News' Bob Schieffer. Guests include House Budget Committee Chairman Paul Ryan, R-Wis., Sen. Amy Klobuchar, D-Minn., RNC Chairman Reince Priebus, and a foreign policy panel featuring David Sanger of the New York Times, Danielle Pletka of the American Enterprise Institute, David Rohde of Reuters, and Richard Haass, head of the Council on Foreign Relations.
SCHIEFFER: Today on FACE THE NATION, the president turns on the charm, Republicans embark on a major party overhaul, and relations with North Korea take a dangerous turn.
RYAN: You know, this has been a really big week. We got white smoke from the Vatican, and we got a budget from the Senate!
SCHIEFFER (voice-over): You heard right. Democrats finally came up with their version of a budget, but is it any more realistic than the Republicans'?
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: How are you?
SCHIEFFER (voice-over): Can the two sides ever find middle ground? We'll talk to House Budget chairman and former vice presidential candidate Paul Ryan. And Minnesota's Democratic senator, Amy Klobuchar. And as a parade of Republicans gathered in Washington for a conservative conclave...
SARAH PALIN, FORMER GOVERNOR OF ALASKA: We can't just ignore the obit (ph) -- we just lost a big election. (Inaudible) came in second out of two.
PALIN: Second position on the dogsled team is where the view never changes and the view ain't pretty.
SCHIEFFER (voice-over): Republican Chairman Reince Priebus will be here to unveil his plan to rebuild his party, and he's talking major changes. Then we'll turn to the new threat from North Korea. We'll look ahead to the president's trip to Israel, with Richard Haass, head of the Council on Foreign Relations; Danielle Pletka of the American Enterprise Institute; David Rohde of Reuters and "New York Times" chief Washington correspondent David Sanger. We'll go around the world and back because this is FACE THE NATION.
UNIDENTIFIED MALE (voice-over): From CBS news in Washington, FACE THE NATION with Bob Schieffer.
SCHIEFFER: And good morning, again. The chairman of the House Budget Committee, Paul Ryan, joins us this morning from Janesville, Wisconsin. And I want to wish you a happy St. Patrick's Day, Mr. Chairman. Also, I see you wore your green tie. Full confession, full disclosure here; I thought it was yesterday. There were a lot of people running around in Washington who were wearing the green and celebrating. But turns out it's officially today. So that out of the way.
RYAN: That means you get to celebrate it twice, Bob.
SCHIEFFER: I got it, now I know. Mr. Chairman, let me start with the hardest question of all. You unveiled your budget this week and critics immediately said this was, quote, "a retread of ideas that were soundly rejected in the last election." It does sound a lot like what you were talking about during the election. How do you respond to that?
RYAN: Well, look, our budget is a vision document. It is -- our budget encapsulates what we think is the right way to go -- fundamental tax reform for economic growth, patient-centered health care replacing ObamaCare, getting our budget balanced. It's a responsible balanced budget. And we think a budget is a necessary means to a healthier economy, to more jobs. That's why we're saying let's balance the budget so we can make sure that we don't have a debt crisis, give businesses the certainty they need so they can plan, invest, give families more of their own take-home pay. I hardly think that that's retread. I think that that's what people want. We've been criticized for repealing ObamaCare in our budget. It's not as if we woke up the day after the election and said let's change our principles, turn them in and throw in with government-run health care. We believe that young people, seniors, families, businesses are in for a very rude awakening as ObamaCare is rolled out. It still has nearly two years to go before it's fully implemented and we're showing that there's a better way of going and this is a better plan to balance the budget. And that's what our document does. That's what our budget provides for.
SCHIEFFER: Well, let me just pick up on that. I mean, you know and I know that the votes are simply not there to repeal what you call ObamaCare right now. Republicans say that. Democrats say that. And certainly, the votes are not there if somehow or another Congress did repeal it, the president would almost certainly veto it. And there are no -- there are certainly not enough votes to do that. So aren't you just kind of wasting time by saying-- this is a big part of your savings here is to -- because you say repealing ObamaCare is how you really save money. But isn't that-- some people say it's a fantasy. And I wonder why do you-- why do you continue to say this is what we need to do?
RYAN: Two points: number one, that just goes to show that ObamaCare is a massive budget buster, that it is creating massive deficits in the future. And I really believe it's going to destroy the health care plan, the health care system in America. We believe the law will collapse under its own weight and that people will be eager for alternatives, as the gory details unfold in the future with its implementation. That's point number one. Point number two is the same point could be made for the Senate budget, dead on arrival in the House. It's a $1 trillion tax increase with even more spending. They're not cutting spending. They have some spending cuts on health care providers, washed out by even higher spending increases. And so you could say the same thing with the Senate budget. The point is, each budgets reflect our priorities, reflect our principles, reflect our vision. We believe in balancing the budget. We believe in getting government to live within its means. We believe in pro-growth economic policies, energy exploration, fixing our entitlements before they go bankrupt. And, sure, you could say that the Democrats don't like that, but we're not writing a Democratic budget in the House. We're writing a Republican budget. And same goes for Patty Murray. She's writing a Democratic budget, trillion-dollar tax increase, which kills tax reform, even more spending, meaning they never, ever balance the budget, ever. The real question is, is are we ever going to bridge the gap? I think that's probably where we are going to go with this conversation, which is where we should go.
RYAN: At least they're passing a budget and that's a good -- I see that as progress.
SCHIEFFER: I couldn't agree with you more on that, because I think it would be -- is hard to pass what the Democrats have put out there today, as -- if I do say so, what you have put out there today. But let me just-- let me just ask you this-- the -- and it is a Democratic-leaning group-- but the Center on Budget and Policy Priorities says your budget is going to cost nearly $6 trillion in lost federal revenue over the next decade. And there is no plausible way to pay for it. It's either going to drive up the deficit or you're going to have to raise taxes. Now, what's your answer-- response to that?