Today, U.S. Senator Jim DeMint (R-South Carolina), chairman of the Senate Steering Committee, made the following remarks in response to the President's latest budget speech:
"The President made it absolutely clear today that Democrats will cling bitterly to deficit spending until our nation is bankrupt. After offering an unserious budget just a few months ago, the President offered new platitudes but the same old policies. He's still pushing for trillion dollar tax increases that would destroy jobs and cripple our economy. He still wants to add trillions in new spending to our $14 trillion mountain of debt without a credible plan to ever balance the budget. This failed tax & spend Democrat agenda stands in stark contrast to the serious and detailed plans that Republicans have offered to save entitlement programs before they go bankrupt, cut wasteful Washington spending, and reform our tax code so our economy can grow and create jobs. The President admitted we have a spending problem, but his solution is always the same: spend more, tax more, borrow more. Americans have rejected this failed Democrat spending agenda, and Republicans will continue to lead the way back to American prosperity.
"Every Senate Republican supports a balanced budget amendment that would end our dependence on foreign borrowing by lowering spending, not raising taxes. I will join with Republican colleagues to demand passage of the balanced budget amendment before a vote to raise our debt ceiling. The balanced budget amendment is the only way to force President Obama and Democrats to stop the rhetoric and get serious about tackling our out of control spending and debt."
All 47 Senate Republicans recently cosponsored the balanced budget amendment that limits government spending to 18 percent of the gross domestic product, the average rate of tax receipts since World War II, and requires a two-thirds majority to raise taxes.