"Washington owes the American people a responsible, balanced budget. The FY2014 budget passed by the House today does just that - balancing the budget in just ten years, without raising taxes. We've got to stop spending money we don't have. The bi-partisan consensus is that America's safety net and retirement security programs will go bankrupt in the coming decades if we don't take action. A balanced budget would protect seniors who depend on the benefits they've earned and protect our children, who can't afford the crushing debt with which we are burdening them.
I respect that there will be differences of opinion on this issue. But before President Obama and Senate Democrats criticize our plan to balance the budget, they should offer their own. The proposal offered by Senate Democrats never reaches balance. It recommends new taxes on top of the $650 billion tax increase President Obama signed into law in January and the hundreds of billions in ongoing tax increases as part of the health care law. As for the President's budget, it's late by six weeks and counting.
Our economy is stuck in neutral and wages remain flat, while health care and other costs keep skyrocketing. The federal government has run up an unsustainable debt of $16.7 trillion and rising. Nearly 46 cents of every dollar we spend is borrowed -- and most of it from China. Twelve million Americans -- young parents, seniors, veterans and recent college graduates -- still are looking for work. A balanced budget will foster a healthier economy and help create jobs.
Families and businesses throughout the 4th District know what it's like to live on a budget. They make difficult decisions to live within their means every day, and it's time Washington does the same."