Today, President Obama released his budget proposal for the 2013 fiscal year, which will run from October 1, 2012 through September 30, 2013. The proposal is not binding, but merely serves as a recommendation for Congress and as an outline for the president's agenda. The budget released included $3.8 trillion in spending for FY2013 and $47 trillion in spending over the next ten years. It also projects a $901 billion deficit for FY2013 and would add $11 trillion to the national debt over the next ten years. Below is Congressman Westmoreland's statement.
"Even after three years of dramatic increases in federal spending, the president's FY2013 budget proposal actually increases spending even more over the next ten years. He proposes $3.8 trillion in spending for 2013 and bumps that number up each year until we are spending $5.8 trillion by FY2022.
"As Americans continue to suffer from high unemployment, the president wants to raise taxes on job creators. In total, his new budget proposes $1.9 trillion in new taxes. And will that money go to pay down our more than $15 trillion debt? Nope. It's going to be used to pay for even more government spending.
"Speaking of our debt, when the president first took office in February 2009, he made a promise to "cut the deficit we inherited in half by the end of [his] first term in office.' Did he honor that promise in this budget, the last budget of his first term and his last opportunity to keep his promise? Nope. Instead, he has once again proposed a budget that is projected to produce almost $1 trillion in deficit spending. Even more shocking, if we followed the president's ten year budget proposal submitted to Congress today, our country would be $25.9 trillion in debt by the end of FY2022.
"Well, he must have addressed the entitlement programs that are the largest drivers of our debt, especially Medicare and Social Security, right? Nope. Instead, he passes the buck on to the next guy to figure them out, allowing them to slip into bankruptcy and forcing seniors to face the reality that they may see their benefits dramatically cut or ended all together in the near future.
"And to top it all off, his proposal is filled with gimmicks and tricks meant to mislead the American people into believing he has some sense of the term "fiscal responsibility.' In the budget, he takes credit for the more than $2 trillion in savings that are already in place -- savings only implemented because of demands from House Republicans. In addition, he claims he's saving $1 trillion on spending for operations in Iraq and Afghanistan -- even though that money was never requested to be spent in Iraq or Afghanistan.
"To be honest, I can't say I'm surprised by the president's bloated budget proposal. After all, he's shown us time and again how unconcerned he is by the serious problems facing our country today. When faced with a mounting debt threatening to bankrupt our nation, he proposed spending more money. When his $800 billion stimulus plan failed to stimulate the economy, he proposed another stimulus plan. When American job creators told the president the threat of higher taxes and more government regulations have deterred them from hiring more employees, he proposed raising taxes on job creators and implementing thousands of new regulations that will increase the cost to do business.
"When reading the president's proposal, I am just reminded of how big of a failure he has been as President of the United States. He has failed to govern responsibly, failed to provide even adequate leadership as our country struggles through these tough economic times, and failed to provide this country with any sustainable plan for our future. House Republicans are currently drafting a budget for the 2013 fiscal year that will address our debt, put Americans back to work, and lower federal spending without raising taxes on American families and small businesses. Until then, you can rest assured that we will not let the president's dangerous FY2013 budget be enacted. Four years of his failed policies is long enough," stated Westmoreland.