Congressman Jason Chaffetz issued the following statement today regarding the House Republicans' "Path to Prosperity" budget proposal for fiscal year 2012:
Republicans on the House Committee on the Budget recently released their Fiscal Year 2012 Budget Resolution entitled "The Path to Prosperity -- Restoring America's Promise."
The proposal cuts $6.2 trillion in government spending over the next decade compared to President Barack Obama's budget. The proposal brings government spending to below 20 percent of the economy, a sharp contrast to the President's budget, in which spending never falls below 23 percent of Gross Domestic Product (GDP) over the next decade.
As a member of the House Committee on the Budget, I applaud the Committee's proposal to restore fiscal responsibility and to directly address our budget challenges. Our nation is headed for fiscal collapse if we do not reform how our government taxes its citizens and spends our money.
Attached is an outline of the Committee on the Budget's proposal. You may find a summary of the proposal on pages 4 through 6. Unlike the President's proposal, our proposal relies on spending reform and restraint and does not impose massive tax increases on businesses and families.
I have stated previously that the federal government has a spending problem, not a revenue problem. Recent increases in federal deficit spending and projected long-term increases in federal spending confirm this fact.
The fate of future generations of Americans requires us to make difficult choices regarding federal spending. Our proposal makes the choices that will lead to economic growth and prosperity for our nation.
Thank you for allowing me to represent you in the House of Representatives. I look forward to your feedback on our budget proposal. Please contact my office if you have any questions or concerns.