ALG - Obama proposes borrowing another $1.3 trillion, no real cuts to speak of in budget

Feb. 13, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today responded to the release of the White House's proposed 2013 budget:

"Once again, the Obama Administration is proposing to borrow another $1.3 trillion to pay for unsustainable increases in government spending, which under the budget will not be cut on a net basis any year over the next decade. There are no real reforms proposed to prevent entitlement programs from dragging the Treasury into the Abyss of insolvency. Meanwhile, he is proposing to increase taxes by $1.5 trillion over the next 10 years on job creators that will only further slow down the economy.

"Obama wants to pretend that there are $2.50 in 'cuts' for every $1 in increased taxes, but since spending increases every year under his proposal, such math is impossible. It is just another imaginary number from the government; pure propaganda designed to prevent the American people from seeing the true dire straits our fiscal house is in.

"This quarter, the national debt will grow to be larger than the entire economy, probably never to return to below 100 percent of the GDP. The reason is because while the economy only grows at a tepid pace of less than 2 percent, the debt continues to expand by about 10 percent every year. No country has ever sustained such borrowing. Remaining the world's preeminent economic superpower is unfeasible under such policies. Obama is pursuing a purposeful policy of national decline."

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

US Rep Bass Statement on Release of President Obama's Budget

WASHINGTON – Congressman Charles F. Bass (NH-02) issued the following statement today after President Obama released his budget plan for Fiscal Year 2013, which includes $47 trillion in government spending over the next decade and $1.9 trillion in new taxes.

Bass said:

“President Obama has once again put forth a budget that spends too much, taxes too much, and fails to address the long-term fiscal challenges facing our country.  After three years of failed economic policies that have only grown our national debt and deficits, we have yet another presidential budget that will continue the uncertainty that is stalling our economic recovery and hurting the ability of businesses to hire.  The facts do not lie: under President Obama’s watch, the national debt has increased by $6.4 trillion.  We are now at a point where our national debt surpasses the total size of the economy and threatens our children’s and grandchildren’s futures.  Now is the time for real leadership, not gimmicks and an unwillingness to offer solutions. 

“The American people expect a responsible budget blueprint for our nation that cuts spending, reforms our tax code to make it simpler and fairer, stops borrowing trillions of dollars to pay for failed economic policies like the stimulus, and addresses the need to strengthen and preserve programs that protect the health and retirement security of seniors now and in the future. 

“Sadly, the President’s budget fails to accomplish these goals.  And the Senate Leadership has indicated it won’t even bother to do its job and produce a budget of its own this year.  The people of New Hampshire, and indeed the nation, deserve better.  I will continue to work with my colleagues on both sides of the aisle to ensure we have a budget that contains real solutions to help our economy grow and secure a future of opportunity for our children and grandchildren.”

http://bass.house.gov

NH GOP - Obama's Budget: Four Straight Years of Trillion-Dollar Deficits

While Continuing Path of Spending, Taxes & Debt, Obama Breaks Promise to Cut Deficit in Half by End of First Term

Concord, NH – New Hampshire Republican State Committee Chairman Wayne MacDonald released the following statement after President Barack Obama announced his $3.8 trillion 2013 budget.

“New Hampshire voters should be alarmed by the fact that President Obama’s budget projects for the fourth straight year a deficit of $1,000,000,000,000.  On top of phony promises to cut the deficit in half by the end of his first term, taxpayers will now foot the bill for his trillion-dollar stimulus bill and his government-takeover of healthcare. 

“Our nation’s federal debt recently passed the $15 trillion mark, yet this White House seems to have no plans to slow the rate of spending or government growth that has helped pile up this enormous strain on our economy.  Obama’s deficit spending is not only holding back our economy, it is also impeding job creation and will result in more debt, more spending and higher taxes that will limit any positive growth we have.  The reality is that this budget shows that President Obama is continuing to push his party’s agenda, even though it means breaking a campaign pledge. 

“This is the type of hypocrisy that frustrates New Hampshire voters.  We’ll continue to remind Granite Staters of President Obama’s broken promise when it comes to the deficit and our nation’s debt.  Come November, we’ll send a message to the president that ‘enough is enough.’  We simply cannot continue on this fiscally irresponsible path of trillion-dollar deficits, and that’s why we need a Republican president in the White House in 2013.”

The Washington Post's Ezra Klein: "The Obama Administration Is Officially Breaking Its Promise To Halve The Deficit By The End Of Their First Term." (Ezra Klein, "Wonkbook: 5 Things To Watch In Obama's 2013 Budget," The Washington Post’s Wonkbook , 2/13/12)

The New York Times: Obama's Budget "Will Show Mr. Obama Has Failed To Meet His Pledge To Cut The Deficit In Half By The End Of His First Term." "But the document's numbers will show Mr. Obama has failed to meet his pledge to cut the deficit in half by the end of his term, and for Republicans, that will be the bottom line." (Jackie Calmes, "Obama's Budget To Focus On Cutting Deficit And Adding Jobs," The New York Times, 2/10/12)

U.S. Rep. Frank Guinta statement on Pres. Obama's budget proposal - "Like a bad movie you've seen too many times"

GUINTA STATEMENT ON OBAMA AMINISTRATION’S

FY 2013 BUDGET PROPOSAL

It’s “like a bad movie you’ve seen too many times”

(Washington, DC – February 13, 2012)    Representative Frank Guinta (R, NH-01) issued the following statement today in response to the Obama Administration’s budget proposal for fiscal year 2013.  Congressman Guinta serves on the House Budget Committee.

“President Obama’s budget proposal is like a bad movie you’ve seen too many times.  It’s just more of the same: more spending, more deficits, more taxes.  If this sounds familiar, it’s because you heard it in the budgets he proposed in 2009, 2010 and 2011.  This new one projects $3.8 trillion in spending, including billions for yet another round of short-term Stimulus-style spending instead of a serious plan for long-term job creation, a deficit of nearly $1 trillion, and seeks to impose at least $1.5 trillion in new taxes on small businesses and families over the next decade.” 

2/9/12 Daily Grind: Out of control pork barrel spending

Out of control pork barrel spending

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