On the recordMarch 28, 2012
I appreciate the gentleman from South Carolina for bringing up this debate. And this is the President's budget we're discussing. When you look at this resolution, this contains the same kind of language as any resolution that's brought to the floor contains. But let's talk about what it seems like some Members of the Democratic Party on the other side are so afraid to talk about, and that is what the President's budget really does. The President's budget never even comes close to balancing, first of all. So this President, who campaigned 4 years ago on reducing the deficit, on trying to bring fiscal responsibility to Washington, goes the opposite way, adding trillions more dollars of debt, mountains of debt on the backs of our children and grandchildren. What's worse, if you look at the policies, $1.9 trillion of job- killing tax increases. What does that mean to families? Hardworking families out there are looking at this, and they're knowing just what this is going to do to jobs in this country when you add another $1.9 trillion. Just look at one part. They love bragging about all the taxes they're raising on American oil. In fact, their budget, President Obama's budget that we're talking about right now, President Obama's budget adds $40 billion a year in new taxes on American energy. The irony is the President's tax increase on American energy doesn't apply to OPEC nations, so OPEC countries are now incentivized to send more oil here.…
