Rep. Deutsch: Bush Budget is Disastrous for Florida

Rep. Deutsch: Bush Budget is Disastrous for Florida

(Washington, DC) - Rep. Peter Deutsch (FL-20) released the following statement on the passage of the Bush budget resolution today.

"The Bush budget is disastrous for Florida. Not only does this budget pass an additional debt burden to our children, but also it shirks our promises to support veterans, education, the environment, and homeland security.

"It's time that Washington returns to fiscal sanity. We made tough choices in the 1990's to create budgets that responded to our nation's needs without burdening future generations. I supported the Balanced Budget Amendment and believe that we must pay for new spending or tax cuts when we enact them. Unfortunately, the Bush Budget does not include a strong "pay-as-you-go" provision. Where are all those Republican voices that decried the deficits of the past and supported the Balanced Budget Amendment?

"When it comes to spending, too many Republicans in Washington have become dangerously irresponsible. We are standing on a precipice of deep structural deficits that will bankrupt future generations. The President's budget office admits that the deficit will exceed $520 billion this year. As staggering as this number is, it does not include money borrowed from the Social Security Trust Fund.

"Deficits do matter. They place a drag on the economy today and into the future. By 2014, American families will pay an average of $10,368 a year in interest alone on the national debt. This will ensure that our children and grandchildren will inherit higher taxes to finance the poor fiscal decisions of today.
"The Bush Administration's budget is out of touch with the priorities of millions of hard working men and women in Florida. I hope that Congress will return to the principles that created the best economy in our nation's history and brought us record surpluses."