Congressman Tom Price (R-GA) issued the following statement today marking the end of Fiscal Year 2010. Under Democrat control in Congress and the White House, FY2010 will be the second year in a row that Democrats have overseen a deficit in excess of $1.3 trillion.
"The 2010 Fiscal Year may have come to an end today, but the fiscal disaster that has come to characterize failed leadership in Washington continues unabated," said Congressman Price. "If we have any chance of getting our nation back on sound financial footing, we will need to simultaneously cut spending while encouraging job creation and robust economic growth. We cannot rely on tax increases -- even if Democrats choose to enact them on American families and small businesses -- to bring down deficits and ultimately our nation's long-term debt. Congress has to show responsibility and, like families and businesses, cut spending immediately. Republicans have already offered over $150 billion in potential savings through the YouCut program as well as our RSC budget plan to return spending to pre-bailout, pre-stimulus levels as an opening effort to turn this fiscal mess around. As usual, our Democrat colleagues have balked at these opportunities.
"But the liberal policies of tax, spend, and borrow are just one part of what is driving our nation off the cliff to fiscal disaster. We have had weak economic growth in the wake of uncertainty fostered by failed big spending stimulus efforts, a daunting government takeover of health care, a permanent bailout authority, and now the threat of looming tax increases on families and small businesses. The liberal agenda of the past few years has painted an unwelcomed target on the backs of American job creators and entrepreneurs. Our Democrat colleagues seemed to have ignored the relationship between their failed policies and an inability to balance the budget. Of course, in order to balance a budget, Congress must first write one -- an annual responsibility the Democrat leadership did not feel was a priority this year.
"A real commitment to reducing government spending and sound policies to get our economy moving again is the right recipe to address our short-term and long-term fiscal challenges. House Republicans have come to the table with positive, pro-growth ideas. I call on our Democrat colleagues to stop defending the status quo and take action immediately."