The President's FY 2016 Budget Request: Bigger Government Across the Board

Statement

The President recently released his Fiscal Year 2016 budget request which outlines increased taxes by $2.1 trillion and proposes major tax hikes on savings, investment, and small businesses, while increasing the cost of hiring workers. The budget also increases spending by $74 billion for next year and $322 billion over five years. The President's budget would grow total federal spending by $259 billion over the current baseline -- 7% for next year alone.

The budget would also increase interest costs, almost tripling them. Interest on the national debt this year would be $229 billion but would rise to $785 billion in 2025 under the proposed budget. The request adds $8.5 trillion to the debt and increases cumulative deficits by $5.7 trillion, increasing national debt to $26.3 trillion by 2025.

Congressman John Ratcliffe stated, "The President's budget grows the size of our bloated federal government at a time when we should be shrinking it. His priorities are rooted in increasing the power of Washington, not helping hard-working Americans. It is this failed, top-down strategy which the great people of this country so resoundingly rejected this last election. As elected officials we have an obligation to make tough decisions, and borrowing from future generations to finance the excess of today represents an immoral abandonment of this duty. I will continue to fight against the President's reckless agenda and do everything in my power to ensure that my two daughters have the same shot at the American dream that I've been blessed with."

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