On the recordMarch 18, 2013
President Obama recently told the Speaker of the House of Representatives that we do not have a spending problem. Last week he told ABC News that we do not have an immediate crisis in terms of the debt. These comments indicate that the President just does not seem to understand the negative impact of $16.5 trillion in debt on our economy. For that matter, based on the new budget, Senate Democrats do not seem to get it either. Not only would the budget that was passed out of the Senate Budget Committee last week raise taxes by an additional $1.5 trillion, it would also increase Federal spending by roughly 60 percent and increase our national debt by $7.3 trillion. I should say that as bad as it is, the budget that was passed out of the Budget Committee last week represents progress. How could I possibly say that? Because it has been 1,419 days since the Senate has passed a budget under Democratic control. So I guess we could say actually passing a budget out of the Budget Committee and having the budget come to the floor this week represents progress. The reason I said Democrats have raised taxes again--or proposed an additional revenue increase in this budget--is because they already did so previously by $1 trillion with the passage of ObamaCare. In my experience, ObamaCare is unique compared to other legislation we have passed here. We passed it in 2009 and early 2010.…
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