The last Congress took advantage of the trust bestowed upon them by the American people and allowed our country to continue on an unsustainable path of record spending, borrowing, and debt. In the new Congress, we are taking steps to stop this troubling trend.
Last month, the House approved a historic continuing resolution that would cut spending by $61 billion, $100 billion below the president's request, through the end of the fiscal year on September 30, 2011. This spending cut and the recent vote to cut spending by $4 billion in a short-term continuing resolution are the first of many, as we work toward addressing our nation's deficit and debt.
I find it extremely troubling that liberals in Washington today are vigorously opposing efforts to cut federal spending. Our current fiscal path is simply unsustainable, and any plan that advocates staying the current course will only cause a further crisis for our children and grandchildren to solve.
You have to look no further than the president's proposed budget for fiscal year 2012 to see that some in Washington failed to learn the lesson from November. The president's budget spends too much, taxes too much and borrows too much, stifling job growth today and leaving our children and grandchildren with a diminished future. In this critical test of leadership, the president failed to tackle the urgent fiscal and economic threats before our country.
Failing to heed the warnings of economists and the demands of the American people, the president's budget actually accelerates our country down the path to bankruptcy. Far from living within its means, the president's budget puts the government on track to nearly double in size since the day he took office. His budget destroys jobs by imposing a $1.6 trillion tax hike, adding $13 trillion to the national debt, and fueling uncertainty in the private sector.
We cannot tax, spend, and borrow our way to prosperity. Where the president has fallen short, conservatives will work to chart a new course, advancing a path to prosperity by cutting spending, keeping taxes low, and reforming government at all levels.
In order to help create jobs and ensure a bright future for our children and grandchildren, the time has come to cut up the nation's credit card. The bottom line is that we must stop spending money we don't have. It is past time for a renewed commitment to common sense in Washington when it comes to living within our means.