Families all across America know that sometimes difficult decisions must be made in order to balance their budgets -- and so should Congress and the President. I believe that drafting a responsible budget for the country is one of the most inherent duties of Congress. The basic principle behind balancing our nation's checkbook is simple: you can't spend more money than you take in.
Unfortunately, many Democrats in Washington, D.C. don't believe our nation has a spending problem despite President Obama adding $6 trillion to our debt since first taking office. We have borrowed more money in the past four years than 42 other American presidents combined. Allowing this type of out-of-control spending to continue is not only irresponsible, it's downright dangerous.
Nevertheless, D.C. Democrats want to continue the spending spree by further increasing taxes on hardworking families. The Democrat-led Senate recently passed a budget that includes $1.5 trillion in new taxes without achieving balance.
While I do not agree with the Senate budget, I am pleased that after three years, the Senate finally passed a budget. President Obama, on the other hand, has failed four out of five years to submit his budget on time, but he had no problem filling out his NCAA bracket before the deadline. Recent reports suggest the President's budget will be released on April 10th -- making it more than 60 days overdue by law.
I am disappointed that despite the extra two months to work on the budget, the President has made it clear that his budget will not balance in the next ten years. A balanced budget is important for economic growth, small business investment, job creation, and a better shot at the American dream for future generations.
The House of Representatives passed a responsible budget plan last week that does just that -- balances the budget in ten years without raising taxes. Our plan enables small businesses to create new jobs, cuts wasteful government spending, removes loopholes, and simplifies our tax code. It also harnesses America's energy potential, supports our troops, strengthens Medicare for future generations, and helps Americans enjoy a more secure retirement. Most importantly, our plan provides certainty and puts America back on the path to growth and prosperity.
The House Republican budget expands opportunities for all Americans. I hope President Obama and Senate Democrats will take the lead and work with the House of Representatives to balance our nation's budget and help hardworking families enjoy real prosperity. It's what America deserves.