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Mr. McCONNELL. Mr. President, I thank my colleague from South Dakota. He is entirely correct. This budget is extreme, and it is unbalanced. What would happen if it passed? We would have a tax hike of up to $1.5 trillion. That would be the largest in U.S. history. It would cost the average middle-class family literally thousands.
Democrats here in Washington, as Senator Thune and Senator Sessions pointed out, already just got billions of dollars in new taxes at the end of the year--about $600 billion because the tax law expired, the fiscal cliff; then they got $1 trillion more out of ObamaCare. So this would be on top of all of that--$1.5 trillion on top of the $1.6 trillion that is already going into effect. And there is a nearly two-thirds increase in big government spending.
It would siphon $ 1/2 trillion out of our economy and into the hands of Washington bureaucrats and the people in Congress to spend; 42 percent more debt, with each American owing up to $73,000; and an average of 850,000 fewer jobs every year. That is about 11,500 jobs in the Commonwealth of Kentucky. Medicare would be allowed to go bankrupt in a few years, and this budget would not balance--not this year, not tomorrow, not ever.
A lot of Democrats here in Washington are saying they simply don't care about balancing the budget anymore. It certainly shows with this one. Their budget will not give Americans a better economy. There won't be any real job creation or the kind of deficit reduction we all know the country needs, just a massive tax hike and more spending to grow the bureaucracy from the pockets of the middle class out.
Our Democratic friends here in Washington like to say that budgets are not just about dollars and cents, they are about values. What their budget tells me is that they have completely lost touch with the hopes and concerns and aspirations of their constituents, that they are putting the needs of government ahead of those who elected them. The budget we waited 4 years for--4 long years we have waited for a Democratic budget--is just a rehash of the extreme policies that continue to pummel the middle class. As all of us have said, it is time to grow the economy, not the government.
I yield the floor.
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