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Public Statements

King: Don't "Chase" Balance - Deliver It

Statement

By:
Date:
Location: Washington, DC

Congressman Steve King released the following statement in response to President Obama's budget request for Fiscal Year 2014:

"After giving a head-fake to the media that his new budget would move to the center, the President today released another left-wing, tax-and-spend budget that is out of step with what this country needs. After repeating the word 'balance' time and time again, President Obama today followed the Senate Democrats' lead by offering a budget that never balances.

Just last month, House Republicans made the tough choices the American people are demanding. Instead of throwing up our hands and demanding more from hard-working taxpayers, we passed a budget that made the tough spending choices that are necessary, and got to balance in ten years without raising taxes. The President's budget, on the other hand, would raise taxes another $1.1 trillion. That's on top of last year's $600 billion tax increase and ObamaCare's $1 trillion tax increase. We're already on track to have well above average tax revenues for years to come, but when it comes to tax revenue, it is clear that for the President, too much is not enough.

Like his past budgets, President Obama's new budget pulls out all the tricks: tax increases disguised as tax reform and budget gimmicks disguised as spending cuts, yet even then his new budget adds $8.2 trillion in debt. The President's budget itself is an admission that you can never get to balance by chasing ever higher spending with ever higher taxes.

President Obama says his goal 'is not to chase a balanced budget just for the sake of balance,' but the CBO just recently said that our debt will have 'serious negative consequences,' including lower wages for American workers, an increased risk for a financial crisis, and a huge increase in debt payments. We need to balance our budget. House Republicans didn't 'chase' balance, we delivered it. It's disappointing that the President refuses to show similar leadership."


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