The federal government has a fundamental obligation to the American people to account for the taxes it receives and the money it spends. This money, after all, comes from the hard work and ingenuity of everyday American citizens. Unfortunately, fiscal responsibility based on the principles of a limited federal government as envisioned by our Founders is often shunned in the name of opaque and excessive spending. When confronted with the untenable reality of massive trillion dollar deficits, the big government proponents simply ignore the facts and try to borrow even more. Following this reckless path is a recipe for disaster.
But there is another path. A path based not on radical ideas from abroad, but built on the fundamental belief that America is the greatest nation on earth and that the Constitution is our guiding light. This path reduces our out of control spending and puts our budget on track to balance. This path restores transparency to the budgetary process and removes the government from areas where it has no business. This path empowers individuals and reaffirms our fundamental belief in life, liberty, and the pursuit of happiness. The choice is stark. The American people now must decide whether they wish to continue down the road to ruin or choose the path to prosperity.
Our debt has already reached astonishing levels, and both parties share the blame. However, the President, in his Fiscal Year 2013 budget, refuses to acknowledge that we have a spending problem. Republicans, on the other hand, refuse to accept the broken promises and failed policies that have pushed our nation to the brink of a debt crises.
This week, House Republicans unveiled our budget for Fiscal Year 2013. Our budget is based on the belief that our federal government should be guided by fiscal responsibility, economic liberty, traditional family values, and a strong national defense. Our budget brings deficits below 3 percent of GDP on the way to balance; reduces debt as a share of the economy; reforms our over complicated tax code; prioritizes our national security; ensures that social safety nets help individuals bounce back up to the middle class, rather than ensnare them in a web of government dependence; and protects Medicare for current beneficiaries, without bankrupting the program for future retirees.
In contrast, the President released his budget last month. Rather than cut the deficit in half, as he had promised to do by the end of his term, the President's budget simply continued with another record breaking trillion dollar deficit. To make matters worse, his budget adds $11 trillion to the debt; slashes defense spending, forcing our nation's servicemembers and their families to bear the burden of Washington's irresponsible policies; imposes a $1.9 trillion tax hike; makes our tax code more complicated, making it more difficult for businesses to expand and hire new employees; and pushes forward with his ill-conceived health care reform, empowering a group of unelected bureaucrats to cut Medicare and restrict patient choice.
The House Republican budget is not the ultimate answer to our nation's fiscal problems. It is, however, a blueprint for a more responsible and prosperous future. In comparison, the Treasury Secretary Timothy Geithner testified before Congress that the Administration is "not coming before you to say we have a definitive solution to our long-term problem. What we do know is we don't like yours." Our plan is built on the tenets of economic freedom and individual liberty, and it affirms, once again, that our nation should follow the framework set out by our Founding Fathers in the Constitution. The Administration might not like our budget, but I think the American people will.