The President's budget is like a broken record that keeps repeating the words: "too much." It spends too much, taxes too much, and borrows too much. Just like previous years, here we are, faced yet again with an overbearing, expensive, and gimmicky proposal from the President. It seems like this Administration hasn't learned much from the bloated spending packages of the past. Instead of using your money to grow the government, we need to focus on reigning in federal spending in order to bring our fiscal house to order. Here are some key facts from the President's budget plan:
Spends Too Much:
$47 trillion of government spending over the next decade
Proposes a net increase over current spending levels
Taxes Too Much:
$1.9 trillion in new taxes
Raises taxes, not to pay down the debt, but to fuel more government spending
Borrows Too Much:
Four straight years of trillion-dollar-plus deficits; no plan to reduce the debt
Gross debt at the end of FY22: $25.9 trillion
Budget Gimmicks & Broken Promises:
Overstates new deficit reduction by taking credit for savings already enacted
Exploits discredited budget gimmick by "not spending" nearly $1 trillion that was never going to be spent
This plan is bad for jobs, bad for seniors, and bad for future generations. The President made it clear that he isn't willing to work toward a fiscally sound budget proposal that will help our country climb out of this seemingly endless pit of debt and spending. Instead the Administration is steering us towards what its own fiscal commission co-chairs called "the most predictable economic crisis in [our] history."
It's clear our country doesn't have a taxing problem, we have a spending problem. I am personally dedicated to cutting and balancing the federal budget. We need to restore fiscal sanity in Washington and tighten our belts. We owe it to our children and grandchildren because, ultimately, what we do today will affect them tomorrow.