In President Obama's proposed Fiscal Year 2013 budget, Congressman Jack Kingston (R-GA) sees a lot of red ink and a missed opportunity to provide the leadership necessary for the country. The budget released today projects a fourth straight trillion-dollar budget deficit and offers little in new proposals to rein in the nation's growing debt.
"This budget is long on rhetoric and short on leadership," Kingston said. "It completely ignores reality and reverts to the same tired talking points we have heard time and again before. The President opted out of providing leadership at this critical time, choosing to reheat many of the very proposals that could not pass muster when Congress was controlled completely by members of his own party. In doing so, he has completely abandoned his promise to cut the deficit in half by the end of his first term."
President Obama's budget calls for $47 trillion in government spending over the next decade, reflecting a net increase over current projections. It finances the spending with a proposed $1.9 trillion in new taxes and exploits a budget gimmick to claim nearly $1 trillion in savings for funds that were never going to be spent. The budget represents the third time the President has chosen to ignore his own National Commission on Fiscal Responsibility and Reform, known as Simpson-Bowles.
"Just as he sat on the sidelines during the Super Committee budget negotiations, the President's budget codifies his neglect for serious budget reform," said Kingston. "For the third year in a row, he has chosen to ignore his own Simpson-Bowles deficit commission's recommendations. Instead he has chosen to double down on the same kind of failed stimulus spending we know won't work and offered now way forward on the entitlement programs driving up our national debt."
Citing the President's failure to provide a legitimate way forward in addressing the nation's budget woes, Kingston renewed his call for action on his proposal to limit spending as a percentage of the economy. The Returning to Responsible Fiscal Policies Act, introduced last year, would limit total government spending to 18% of gross domestic product and would balance the budget in less than five years.
"Once again, the President has proven that he is unwilling to make the decisions necessary to get our debt under control," Kingston said. "My proposal would hold Washington's feet to the fire in advancing the necessary reforms to provide a better future for our children and grandchildren."
Kingston's proposal has been endorsed by some of the leading fiscal conservative organizations in the country including Americans for Tax Reform, Club for Growth, National Taxpayers Union, and Americans for Prosperity among others.