Today, Chief Deputy Whip Peter Roskam (R-IL) released the following statement on the release of President Obama's budget proposal for Fiscal Year 2015. His budget missed the statutory deadline once again, making it the fifth time in six years.
"President Obama's 2015 budget managed to paint a rosy picture of our fiscal future -- despite the dire long-term fiscal outlook the Congressional Budget Office (CBO) recently outlined, warning that our nation's spending trajectory will add $10 trillion to our debt and shoot deficits back up to $1 trillion. And yet Democrats are celebrating the president's call for $56 billion in new spending saying he is "doing exactly what he should be doing'. Make no mistake -- more reckless spending will put immense downward pressure on our economy -- freezing growth and hiking interest rates so that it's harder for struggling families to get loans, pay off debt and make ends meet.
"By abandoning his only proposal to address long-term deficit reduction and ignoring the entitlement reforms he once promised to champion in order to address the true drivers of our debt, the president is putting Medicare and Social Security on a track for bankruptcy, ensuring these vital programs will be out of reach for our children and grandchildren. At the end of the day, the President's disappointing, fantasy-based budget proves he isn't serious about finding common ground with Republicans, who are ready to tackle our nation's greatest challenges and build a 21st Century growth economy where all Americans can prosper."