Congressman Larry Bucshon on President’s Budget Proposal

Feb 13, 2012 Issues: Budget and National Debt

(Washington, D.C.) – Congressman Larry Bucshon (IN-08) released the following statement in reaction to President Obama’s Fiscal Year 2013 budget proposal.

Congressman Bucshon (IN-08) states:

"It is irresponsible for President Obama to release yet another budget that is filled with more reckless stimulus spending, a $1.5 trillion tax increase, accounting gimmicks, and a fourth consecutive trillion dollar deficit.  We need a clear plan for job creation and deficit reduction and unfortunately, this budget fails to establish that plan.  President Obama promised to halve the deficit by the end of his first term, but instead, he proposes to continue spending money we don't have, risking our children's and grandchildren's futures to avoid making tough decisions today.

 "The Obama Administration's own optimistic figures show prolonged deficits and high unemployment, which point to the need to produce a budget that restores fiscal sanity to this nation.  The release of this budget once again shows that President Obama is putting politics ahead of policy as he continues to be a constant campaigner and failed leader."

 

Background:

During President Obama’s first 3 years in office, debt has risen $4.6 trillion or 43%.

Over the next decade, President Obama’s budget will add more than $10 trillion to our national debt with it projected to reach $25.94 trillion in 2022.  The total accumulation of spending over that same time period is $47 trillion.

President Obama has added more to the national debt that every president from George Washington to, and including, George H.W. Bush combined.

Prior to President Obama’s election, the highest deficit ever was $458 billion.

“And that's why today I'm pledging to cut the deficit we inherited in half by the end of my first term in office.” -- President Barack Obama, Remarks At The Fiscal Responsibility Summit, Washington, D.C., 2/23/09

 

 

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