Jeb Hensarling: “Again, the President, that budget that the President has submitted to the American people is simply breathtaking…”

“Again, the President, that budget that the President has submitted to the American people is simply breathtaking; breathtaking in its spending, breathtaking in its deficits, breathtaking in its debt. This is a budget that will ultimately put us on the road to bankruptcy. There is no other way around it. And I am not exaggerating these points. But look at the trajectory of the spending under the President's proposed budget. And as we continue to run deficits, the red ink is there for a purpose. We have never seen spending at these levels. Most economists believe that you cannot sustain a debt to the economy or GDP ratio of over 3 percent, that anything over that long term is unsustainable. The President is proposing a $1.6 trillion deficit, the largest in American history for this budget, which would weigh in at 10.6 percent of our economy, largest debt to the economy ratio since World War II. The deficit never falls below $700 billion under his proposed budget plan. They average a trillion. The deficits under this proposed budget will average a trillion dollars a year. And so the gentleman asks, is this sustainable? And the answer is no.”