Press Releases

President Obama released his FY2014 budget proposal today, over two months past the deadline required by law.  

Representative Bucshon (IN-08) released the following statement:

“After over two months of delay, President Obama presented his budget. I hoped the President would offer an honest proposal, yet his budget includes more gimmicks and the same failed economic policies that have exponentially grown the debt, stunted economic growth, and created uncertainty for Hoosier families. His budget increases taxes, holds the future of our safety net programs hostage for additional tax hikes, and never balances.

“Washington, D.C. cannot continue to operate with business as usual. With a federal government budget deficit over $1 trillion for 5 straight years and a national debt approaching $17 trillion, it is time for Washington D.C. to have an honest conversation with the American people and responsibly balance our budget.

“The House budget responsibly addresses our mandatory spending programs to preserve them for current beneficiaries and future generations of Americans, balances within 10 years, and does not raise taxes.  These responsible, pro-growth reforms will expand opportunity for all Americans.  Our plan means more jobs, more take home pay, and more security for our Hoosier families.”

BACKGROUND:

More information on the House FY 2014 Budget can be accessed here.

President Obama has missed his budget deadline, required by law, four out of the five years he has been in office and is the first President to do so two consecutive years since 1923 and holds the latest budget submission at 98 days.

Last month, Rep. Bucshon introduced the “President’s Salary SUBMIT Act,” which places the President’s pay in escrow if he fails to meet the legal deadline to submit his budget. His pay would be withheld until the day his budget proposal is submitted.

The Budget and Accounting Act of 1921 requires the President to submit an annual budget on the first Monday in February. The President missed his deadline for FY 2014 on Monday, February 4th.

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