The President’s budget more than doubles the debt, drives spending to a new record of $3.8 trillion in FY 2011, pushes the deficit to a new record of $1.6 trillion in FY 2010, and raises taxes by over $2 trillion through 2020, by the Administration’s own estimates. If this weren't the taxpayers' money, this would be laughable.
Congressman Jeb Henlarsing (R-Texas, left) decided, as did Peter Finch in the 1976 movie "Network", that he's mad as hell and can't take it anymore! (Figuratively, of course).
When Obama first took office, he told the American taxpayers that we needed to pass the "porkulus" bill or unemployment would grow past 8%. He also assured Americans that if Congress passed the bill, unemployment would stay below 8%.
Naturally, Obama's Democrat Congress passed the bill and and unemployment is over 10% yet he claims he averted a worse catastrophe.
KCC feels sure that our own NC Members of Congress will be weighing in on the budget soon, and we look forward to hearing from them.
Meanwhile, here is the text to Congressman Henlarsing's press release:
FOR IMMEDIATE RELEASE
February 1, 2010
“Mr. President, will that new budget, like your old budget, triple the national debt and continue to take us down the path of increasing the cost of government to almost 25% of our economy?”
Upon the release today of his record breaking $3.8 trillion fiscal year 2011 budget, President Barack Obama finally answered the question posed to him by Congressman Jeb Hensarling, a question the President declined to answer during the Friday, January 29 House Republican retreat: “Mr. President, will that new budget, like your old budget, triple the national debt and continue to take us down the path of increasing the cost of government to almost 25 percent of our economy?” To view budget documents go to http://www.house.gov/budget_republicans/
Hensarling said, “Although it came 72 hours after I posed this very important question to the President, the American taxpayers and I finally have an answer to the simple question I asked him on Friday. The answer is YES. The president released a 10-year budget today that will triple the national debt, and keep government spending on a path that equals as much as 25% of the entire U.S. economy. This budget sends a clear signal to American taxpayers who are tired of the spending, deficits and bailouts – and who recognize that they are not working – that the President is taking the policies they have rejected to a new high. This is clear evidence that the President is ignoring the will of the American taxpayers who want Washington to go on a diet.” (photo above, left)
“As is often the case, particularly in budget matters, I find myself agreeing with 80% of what the President says and disagreeing with 80% of what he does. While the President’s budget rhetoric gives a nod to reducing the deficit, and his budget document recognizes the unsustainable trajectory of the deficits, it assumes this problem will be solved by an as yet unknown “fiscal commission,” (page 146 summary tables) a proposal already defeated by Senate Democrats.”
“Likewise, his purported spending freeze is not really a freeze because it exempts 83% of the federal budget from the freezer, does not turn on the freezer until next year and then turns off the freezer shortly thereafter. In the same document that President Obama tells the nation he’s committed to fiscal responsibility, he unveils trillions in NEW taxes and entitlements. This makes it very hard to take President Obama’s newfound commitment to fiscal responsibility seriously.”
“Unfortunately, instead of signaling a change in the weather I’m afraid the President’s budget signals that the looming storm clouds of Obamanomics are here to stay. For the duration of the Administration’s 10-year budget, the deficit never falls below $700 billion, and never falls below 3.6 percent of GDP – a level the Administration’s own budget director has called ‘unsustainable.’ Debt held by the public triples over 10 years, and exceeds 60 percent of GDP as a share of the economy this year – surpassing last year’s 50-year high. Debt continues to rise to consume 77.2 percent of our economy by the end of the budget window. Couple this budget with the threatened takeover of our health care system, a threatened energy tax and the threatened makeover of our financial system and it is little wonder that job growth is lagging and that private capital and entrepreneurs are sitting on the sidelines – who would take the risk to start or expand a business in this climate?”
“Democrats in Congress have had the Constitutional power of the purse for three years. In the 12 years that Republicans controlled the House, the average deficit was $104 billion. In just three years under Democratic control, the average deficit is now almost $1.1 trillion. I suspect that as the Democratic majority in Congress works its will on the President’s budget it will only get worse.”
“I have great respect for President Obama, and I appreciate his willingness to come to our retreat, but last Friday he missed an opportunity to show real leadership and join Republican efforts to reign-in the spending. Instead of being straight with the American people about his plans to take nearly one out of every four dollars they earn, he chose to change the subject. He could have told the American people he planned to continue on a path to tripling the national debt and increasing government spending to 25.1% of the economy and he could have explained why he thought that was good policy. He chose not to take that opportunity. Over the next few weeks the House Budget Committee will hold hearings on the budget, I look forward to a serious and honest debate about the trajectory of this administration’s spending and the damage it is doing to our national well-being.”
For more detail on the President’s budget go to http://www.house.gov/budget_republicans/ .