Casey, Toomey React to Obama Budget
WASHINGTON, DC— U.S. Senator Bob Casey (D-PA), Chairman of the Joint Economic Committee, released the following statement after President Obama released his proposed budget:
“I will closely review President Obama’s budget proposal and its impact on Pennsylvania, job creation and the economy as the congressional budget process moves forward.
“Long-term deficits and debts are not sustainable. Government spending must be reduced. At the same time, we can’t indiscriminately slash funding for good programs that benefit Pennsylvanians and invest in our economic future. The budget should invest in growth and cut what doesn't work. Cuts to already underfunded priorities like local law enforcement, medical research and education for our children will leave us less secure and hurt our ability to compete in the global economy.
“A host of options must be considered to reduce the deficit. As a former Pennsylvania Auditor General and State Treasurer I know that significant savings can be found in budgets. Reform to target duplication, wasteful subsidies and loopholes can reduce spending and make government more efficient.”
Senator Pat Toomey expressed disappointment with President Obama’s budget proposal.
“As families across America are cutting back to live within their means, President Obama’s budget falls well short in the area of belt tightening,” Sen. Toomey said. “The president’s proposed budget for fiscal year 2012 puts taxpayers on the hook for an astonishing $3.73 trillion in spending, increasing the debt by $1.1 trillion on top of a record breaking $1.6 trillion deficit for fiscal year 2011.
“The federal government is suffering from a spending addiction, and if our leaders don’t deal with this problem soon, we all will pay the price. The president’s five-year non-security, discretionary spending freeze is too little too late. After a 25% increase in spending since 2008, the president has to offer much more aggressive reductions if we are ever going to get our spending under control.
“To make matters worse, the president’s budget increases taxes and completely ignores the drivers of the country’s deficit problem—the entitlement programs. As we approach the statutory federal debt limit, it’s unfortunate that the president wants Congress to increase it without any budget reforms. Instead, his proposed budget kicks the can down the road while piling higher deficits on our already exploding federal debt.
“We cannot borrow, spend and tax our way to prosperity. The best thing we can do for job creation is keep taxes low and return fiscal responsibility to our government. I had hoped that the president would have taken the steps necessary to put our government on a sustainable fiscal trajectory. Unfortunately, the president’s budget represents a failure of leadership at a time when leadership is desperately needed.”
“I will closely review President Obama’s budget proposal and its impact on Pennsylvania, job creation and the economy as the congressional budget process moves forward. “Long-term deficits and debts are not sustainable. Government spending must be reduced. At the same time, we can’t indiscriminately slash funding for good programs that benefit Pennsylvanians and invest in our economic future. The budget should invest in growth and cut what doesn't work. Cuts to already underfunded priorities like local law enforcement, medical research and education for our children will leave us less secure and hurt our ability to compete in the global economy.
“A host of options must be considered to reduce the deficit. As a former Pennsylvania Auditor General and State Treasurer I know that significant savings can be found in budgets. Reform to target duplication, wasteful subsidies and loopholes can reduce spending and make government more efficient.”
Senator Pat Toomey expressed disappointment with President Obama’s budget proposal.
“As families across America are cutting back to live within their means, President Obama’s budget falls well short in the area of belt tightening,” Sen. Toomey said. “The president’s proposed budget for fiscal year 2012 puts taxpayers on the hook for an astonishing $3.73 trillion in spending, increasing the debt by $1.1 trillion on top of a record breaking $1.6 trillion deficit for fiscal year 2011. “The federal government is suffering from a spending addiction, and if our leaders don’t deal with this problem soon, we all will pay the price. The president’s five-year non-security, discretionary spending freeze is too little too late. After a 25% increase in spending since 2008, the president has to offer much more aggressive reductions if we are ever going to get our spending under control.
“To make matters worse, the president’s budget increases taxes and completely ignores the drivers of the country’s deficit problem—the entitlement programs. As we approach the statutory federal debt limit, it’s unfortunate that the president wants Congress to increase it without any budget reforms. Instead, his proposed budget kicks the can down the road while piling higher deficits on our already exploding federal debt.
“We cannot borrow, spend and tax our way to prosperity. The best thing we can do for job creation is keep taxes low and return fiscal responsibility to our government. I had hoped that the president would have taken the steps necessary to put our government on a sustainable fiscal trajectory. Unfortunately, the president’s budget represents a failure of leadership at a time when leadership is desperately needed.”
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