Sen. Mike Johanns (R-Neb.) today issued the following statement after President Obama announced his budget for fiscal year 2013:
"The President's budget contains more spending we can't afford; more borrowing we can't sustain, and more taxes which stifle job growth while doing nothing to address the root causes of our debt," Johanns said. "It represents the same failed policies we've seen the past three years, designed to score political points while doing nothing to address runaway entitlement spending or the fiscal crisis our nation faces."
The President's budget spends $3.8 trillion and, like his previous three, continues the trend of running historic trillion-plus dollar deficits despite promises to cut the national deficit in half by the end of his first term. The budget also does not appear to offer any new deficit reduction measures while proposing $1.5 trillion in new taxes, many of which will hit small businesses, which create more than 60 percent of all new jobs.