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President's Budget Calls for More Spending, More Borrowing, More Job-Crushing Taxes


Location: Washington, DC

This week, President Obama issued his Fiscal Year 2013 budget request, which includes more of the same spending, borrowing, and taxing policies that have hindered economic growth and job creation. Despite the President's pledge to cut the deficit in half in four years, the Administration's budget projects a $1.3 trillion federal deficit, the second-highest budget deficit in our nation's history. The FY 2013 budget proposal sets another dubious record by spending $47 trillion over ten years, more than any other budget. While the President has spoken about the need to reduce spending, his budget does little to put those words into action by including spending increases that far exceed the proposal's spending cuts. The increase in spending and borrowing under the requested budget will worsen our nation's debt crisis by sending our gross national debt from $15 trillion today to $26 trillion in 2022. This is despite his proposal to raise income taxes on American families and small businesses by $1.4 trillion. The proposal also seeks to raise taxes on energy producers as gas prices continue to rise. As Congress considers our nation's budgetary priorities for the coming year, Congressman Miller will work to put our nation's finances on a sustainable path to economic prosperity.

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