Weatherford Telegram - Budget Borrows Too Much

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Weatherford Telegram - Budget Borrows Too Much

From Senator John Cornyn's e-newsletter

In Washington, Congress continues to focus on President Obama's proposed budget. The non-partisan Congressional Budget Office released an alarming report indicating that the President's budget will create deficits averaging nearly $1 trillion a year for the next decade, and it would double the national debt in five years and nearly triple it in 10 years.

Not only does this budget spend too much and tax our nation's hard-working families and small businesses, it borrows far too much from future generations of Texans. I spoke on the Senate floor about the implications of this budget for students. Under the President's budget, students who start college this year will see their share of the national debt grow from $19,000 per student to more than $36,000 per student after graduation from a four-year program. That is a tremendous burden to place on college graduates as they enter the workforce and begin their careers.

Despite my concerns with the Democrats' budget and its reckless spending and misguided priorities, I was encouraged that my amendment to bring a little Texas sunshine to Washington unanimously passed the budget committee. My measure, based on the successful Texas model, which has led to the elimination of more than 50 agencies and saved Texans more than $700 million, lays the groundwork for the establishment of a Federal Sunset Commission to review federal programs. It will determine their efficiency, and make recommendations on whether they need reform or should be eliminated all together.

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