The Hill News

Rep. Paul Ryan (R-Wis.) will announce sometime this week whether he plans to run to fill the seat of retiring Sen. Herb Kohl (D-Wis.).

The House Budget Committee chairman's name was quickly passed around as a potential candidate when Kohl announced his retirement Friday, but he said Sunday he had reached no decision yet.

"It was a bit a surprise to all of us," he said on CNN's "State of the Union." "We just started digesting this."

However, he added that he would announce whether he will run soon, responding in the affirmative when asked if he would announce sometime this week.

"I plan on making an announcement very quickly," he said. "But we're just beginning this process."

Ryan also supported the marker laid down by House Speaker John Boehner (R-Ohio) on the debt limit debate. Boehner said in a Monday speech that any increase to the debt limit should be accompanied by at least an equal amount in spending cuts. The Treasury Department has re! portedly asked Congress to approve a $2 trillion hike.

For every dollar in new debt authority, "we’re saying cut at least a dollar’s worth of spending, because that is the necessary thing to do to stave off the debt crisis," said Ryan.

He also acknowledged that the nation's debt problem was the fault of both parties, as Republicans in the majority as approved policies that grew the deficit.

"Both parties messed this up. This is not a Republican created problem or a Democrat created problem," he said. "We’ve got to face up to that if we’re going to get this situation under control."

However, he touted his budget proposal, while blasting Democrats in the White House and the Senate for failing to bring competing plans to the deficit debate.

“What we have on the table is our budget," he said. "We have yet to see a concrete proposal from the president or Senate Democrats."

While President Obama did unveil his 2012 budget proposal ear! lier this year, Ryan dismissed it.

"His budget does noth! ing clos e to closing the fiscal gap," he said.