Ayotte: President's Budget Fails to Address Washington's Spending Problem

Statement

U.S. Senator Kelly Ayotte (R-NH), a member of the Senate Budget Committee, released the following statement regarding President Obama's proposed budget for Fiscal Year 2013.

"For the past three years, Americans have waited for President Obama to put forth a responsible fiscal plan that addresses our serious debt crisis. Unfortunately, his budget projects a $1.33 trillion deficit this year - making this the fourth straight year of trillion dollar plus deficits. It spends $47 trillion over ten years, increases the nation's gross debt to nearly $26 trillion, and accelerates our nation deeper into fiscal crisis. To pay for new stimulus and wasteful Washington spending, the administration proposes the largest tax increase in American history on hard-working families and job creators at a time when we can least afford it. In short, his budget proposal is more of the same reckless borrowing and spending that stand to bankrupt our country.

"Incredibly, the Administration uses deceptive accounting to falsely claim a $4 trillion reduction in the deficit. In reality, the budget would reduce the deficit by only about $300 billion - woefully short of the President's pledge to cut the deficit in half by the end of his first term. Under this Administration, Washington's total debt has surpassed the size of the entire U.S. economy, and this budget would add $11 trillion in new debt over the next decade.

"I'm also disappointed that the president's budget proposal offers no serious plan to preserve our entitlement programs - the real drivers of our debt. Without reforms to strengthen these programs, Social Security and Medicare will go bankrupt and be nonexistent for our children and grandchildren.

"Similarly, the Senate Democrats' refusal to pass a budget for nearly three years also represents a troubling lack of leadership. I will continue to press the Senate Democrat leadership to bring a responsible budget plan to the Senate floor for an open, honest, and full debate. The American people deserve nothing less."

Source