On the recordMay 25, 2010
Over a month has gone by since the April 15 deadline for Congress to pass its annual budget resolution. House Democrats, though, haven't even bothered to offer up a proposal. But without a budget resolution, it is still clear Democrats will go on spending unbelievable sums of money, as if a $940 billion health care bill, a $787 billion failed stimulus bill, and teeing up more permanent bailout authority weren't enough, House Democrats are going to spend another $200 billion this week on another massive spending bill. The majority of this is not offset by other spending cuts in the budget. This latest spending spree will increase our annual deficit by $134 billion. To the extent that there is any budgeting here in Washington at all, we are budgeting for bankruptcy. The Congressional Budget Office predicts that our debt will rise to an alarming 90 percent of GDP by the end of this decade. This is unsustainable and puts us in the same territory as the country of Greece. Having already spent trillions of dollars, we are not even trying to budget for the next year. This is unacceptable. Americans don't handle their checkbooks this way and neither should Congress.
