Congressman Cantor: Economy Will Come In Last Under President's Budget

Statement

Congressman Eric Cantor (VA-07) today released the following statement regarding the President's Fiscal Year 2013 Budget request:

"President Obama says he wants an economy that is 'built to last' but the budget he released today outlines a plan that is built to come in last. Instead of taking the opportunity to provide real leadership and address the serious fiscal challenges facing our country, the President offered a partisan, election-year budget that ratchets up spending while ignoring the biggest drivers of our debt and calls for massive tax increases on hardworking families and small businesses. The President's budget will make our economy worse today, and result in debt, doubt and decline in the coming years.

"Unfortunately, this comes as no surprise from an Administration that is more interested in spending money to grow the federal government than getting our fiscal house in order and encouraging job growth in the private sector. When President Obama took office in 2009, he promised to cut the deficit in half by the end of his first term. But over the past four years, his failed policies have resulted in trillion dollar deficits each year. Democrats in Congress are no better. They haven't offered a credible plan to get Americans back to work or seriously address the debt, nor have they bothered to submit a budget in more than 1,000 days.

"Our economy is still not experiencing the kind of growth needed to get the millions of Americans who are unemployed back to work. We ought to be using every tool at our disposal to provide incentives for small businesses to create jobs and hire, not call for tax hikes and more Washington red tape as the President proposed today. Instead of a government-controlled economy that is 'built to last,' the economy we need is an economy built to grow - one that encourages small businesses, entrepreneurs, innovators and inventors to take a risk, succeed and create jobs. We need an economy that evolves, adapts and encourages those start-ups like Google, Facebook and Ford to become successful job engines in our country. And an economy that does not pick winners or losers by punishing those who've worked hard and achieved success.

"Republicans believe in an economy built to grow where small businesses can keep more of their own hard-earned money so they can invest, expand their companies and hire employees. This will be clearly evident in the coming weeks as Chairman Paul Ryan and House Republicans introduce our budget, one that takes bold steps to address the serious fiscal challenges we face and grow the economy so that our children have the same hope, opportunity, and ability to achieve that our parents gave to us and their parents to them."

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