House Republicans on Tuesday made it official: They’re proposing a $3.53 trillion budget for 2013 that would kill $55 billion in spending cuts aimed at defense and make up for them with savings elsewhere in the budget. Overall, the plan from House Budget Chairman Paul Ryan would bring in $2.73 trillion in tax revenue in 2013, compared to $3.53 in outlays, leaving next year’s deficit at just under $800 billion. After that point, annual deficits would fall significantly, reaching as low as $166 billion by 2018 but then begin to climb again. As a share of the economy, Ryan estimates that his budget would leave the debt held by the public at 62.3% of GDP, down from about 73% this year.