April 14, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement on the new Obama budget:
"Barack Obama wants to pretend that the reason we are spending more than we take in is because we don't take in enough, when the real problem is that we are spending too much. In 2007, the budget deficit was just $160.7 billion, but this year it will rise to $1.645 trillion, a 923 percent increase. How can that be when tax rates have been relatively the same since then?
"Since 2007, annual spending has increased $1.119 trillion, and revenues have decreased by $394 billion. Put simply, 75 percent of the increased shortfall is because spending increased and only 25 percent is because revenue dropped because of the down economy. That means we have a spending problem, plain and simple.
"The implication is that 75 percent of the solution will need to include spending cuts, and the other 25 percent of the solution will be growing the economy so that revenue increases. And in order to get spending under control, Congress will need to rein in mandatory spending, which accounts for $745 billion of the increased shortfall.
"The next time Congress considers a budget, everything needs to be on the table, because that is the only way to get this monstrosity under control."
"Obama's 'Adult' Conversation," By ALG Senior Editor Robert Romano, April 14th, 2011.
"Debt a Vexing Can of Worms," By ALG Senior Editor Robert Romano, March 22nd, 2011.