WASHINGTON – Today, Senator Mike Lee responded to the release of President Obama’s budget outline:

“President Obama’s budget outline is irresponsible and shameful,” said Senator Lee, a lead cosponsor of the Republican-backed Balanced Budget Amendment. “It continues the policies that are making it harder for American families to get back on track. His proposal perpetuates Washington’s spending problem, deepens America’s debt, and calls for the largest tax hike in history.  The President claims ‘savings’ by using well-known budgeting gimmicks and has again denied the American people an opportunity to honestly discuss American’s fiscal future.” 

According to an analysis by Republican Senate Budget Committee Staff, the President’s proposal:

• Spends $47 trillion over the next 10 years;
• Increases net spending over current projections by $1.5 trillion;
• Increases taxes by $1.9 trillion;
• Adds $11.2 trillion in new debt by 2022; and
• Overstates the 10-year ‘savings’ by $3.7 trillion.

 

“The President has repeatedly claimed that tax increases are necessary to ensure upper-income Americans are paying their ‘fair share.’  But his budget numbers prove that it is out-of-control spending that is driving our debt, not tax rates.  Even with his tax increases, the President’s spending spree adds more than $11 trillion to our debt.”

“In stark contrast, congressional Republicans have put forward several budgets and other reforms that would deal directly and honestly with America’s economic challenges.  Legislation such as ‘Cut, Cap, and Balance,’ Lee-Hatch Balanced Budget Amendment, the ‘Budget Before Borrowing’ Act, and the ‘Honest Budget Act’ are the kinds of solutions the American people are demanding from Washington.  The President continues to stand in the way.  It is a failure of leadership, an abdication of his responsibilities, and further evidence that he is unfit to properly manage these critical issues.”