Bucshon released the following statement regarding the President’s released budget:

(Washington, DC) – Congressman Larry Bucshon, a physician from Southern Indiana, released the following statement regarding President Obama’s budget request for FY 2015 that requests further increases in taxes, spending, and borrowing.

Bucshon released the following statement regarding the President’s released budget:

“The President’s budget represents another failure for American families – it is merely a political framework that fails to address the serious challenges we face as a nation. With his budget, the President asks hardworking Hoosiers to foot the bill for more Washington spending, significantly weakens our national defense, and does nothing to ensure our entitlement programs are still around for future generations.

 

“The House will once again present a budget to the American people that tackles the real drivers of our debt, grows the economy, and helps Hoosiers take home more of their pay. These solutions, not a campaign brochure, will make life easier for everyone.”

The President’s budget is one month past the statutory deadline representing the fifth time in six years that he has missed this deadline, the worst record in history. Furthermore, his budget was released without pertinent information including analytical perspectives, historical tables, and economic assumptions that are generally included and are a part of the discussion. According to the Washington Post, based on the White House assumptions, that were not released, “If the budgeteers get GDP growth wrong, just about everything else will be wrong, too, from the abundance of tax revenue to the size of the budget deficit” (Washington Post; 3/4/14).

At this point, Senate Majority Leader Harry Reid has made it clear that he has no intention of presenting a budget proposal. This will be the fourth time in the last five years the Senate has failed to meet their budget obligation and is an attempt by Reid to shield his members from taking a tough vote before the 2014 midterm election.

BACKGROUND:

Spending Surges

• We’re not in an “era of austerity.” Since 2009, the debt has gone up $6.8 trillion and spending has totaled $17.6 trillion.
• The President’s budget increases spending by $791 billion over the budget window and by $56 billion in 2015 above the Murray–Ryan spending agreement that he signed into law just two months ago.
• His budget will increase total spending by 63 percent from today’s levels over the budget window.

Debt Explodes

• President Obama’s budget never balances—ever.
• It would add $8.3 trillion to the debt over the budget window.