Coats: President Hands Taxpayers His Wish List, Avoids Necessary Budget Decisions

Press Release

Senator Dan Coats (R-Ind.), senior Senate Republican on the Joint Economic Committee, today made the following statement regarding President Obama's budget proposal for fiscal year 2015:

"It is disappointing that President Obama chose to hand taxpayers his wish list rather than propose serious reforms to address the fiscal reality our country faces. This budget abandons any realistic effort to bring down the spiraling costs of mandatory spending programs or return the debt to a sustainable level. Instead, it adds close to a trillion dollars in new spending and calls for trillions in tax increases.

"The president's plan does nothing to keep Social Security and Medicare solvent and preserve these programs for future generations. And, it chooses massive tax hikes over true comprehensive tax reform, which is one of the best options available to grow our economy and create jobs. This budget is a missed opportunity and fails to stabilize our long-term fiscal future."

The budget plan released today by the White House includes $791 billion in new spending (much of it on programs that have previously been ineffective), raises taxes by $1.8 trillion and adds $8.3 trillion to the national debt over the next 10 years.

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