On the recordJuly 26, 2012
Mr. President, there has been a lot of talk about the dangers of raising taxes during a recession. President Obama famously said in 2009: ``You don't raise taxes in a recession.'' Our economy is certainly worse now than it was then. But that did not stop the Senate majority from pushing through a tax increase on our small business owners yesterday. We need to get our fiscal house in order, and that starts with budgeting in a responsible manner. Washington's primary problem is not a revenue problem. Washington's primary problem is a spending problem, and the Senate majority's actions have exacerbated that problem. The Senate has failed to pass a budget for the past 3 years. Meanwhile, our country is facing record deficits and an ever-increasing debt. This is the fifth straight year that Washington's excessive spending has led to a trillion-dollar deficit. It now sits at a jaw- dropping $15.9 trillion. The Senate majority's only answer to this crisis is to raise taxes on our job creators during a time while our country has an unemployment rate of over 8 percent. Along with failing to produce a budget, the Senate majority leader is now backtracking on a pledge to enact every individual appropriations bill this year. Needless to say, I am disappointed. In fact, I think it is safe to say our entire caucus is disappointed.…





