A short version of the proposal is here.
The problem with his proposal is that its a typically Republican view of what gov't should do. Its all about making sure taxes for rich people are as low as they think people will tolerate while spending as little on entitlements that they also think people will tolerate.
I don't support the proposal for two reasons. One is I don't think its necessary to cut spending right now. In fact it can be argued that we need more spending in the immediate future. And the second is that I think we can reform social security, medicare, medicaid, and the entire tax code without draconian cuts that hurt poor people while not asking the rich and the currently old population to sacrifice anything (aside from the old people that would be hurt by the medicaid cuts).
I'm not thrilled with the way anyone has handled the budget. Obama continues to add to an unnecessarily costly defense/foreign policy budget all the while extending tax cuts for rich people. Those are the first two things I would look at if I was doing a budget. After that I would look at the big three entitlement programs.
I'm not certain what I'd do with SS. But I'm pretty sure it would not involve raising the retirement age like most in DC want to do. Or I would at least not raise it for people below a certain income. For medicare and medicaid I'm a lot less sure about what I'd do. But I very likely wouldn't privatize medicare and then cut people checks as a % of GDP so that they can give part of that money to private insurance companies.
One funny thing about this is the Constitutional amendment that Republicans in the Senate support might make Ryan's budget unconstitutional.