On the recordApril 13, 2011
It is a very serious crisis. The President submitted a budget to the Congress 2 months ago. I am hoping and expect that if he makes big changes in his plan for the future, we will see that in real numbers and not just a vague vision. A vision gets too close to being a dream. It gets too close to being of vapors. We are in a real situation with real money. I have been a very aggressive critic of the President's budget. I believe it is the most irresponsible budget ever presented to Congress. We are facing a systemic, deep, long-term crisis. Everybody knows it. His budget raised taxes $1.7 trillion. His spending was even more. In the net projection over 10 years, he would increase the debt of America $3 trillion more than the current trend we are on. Instead of taking us off the trend, it accelerates the trend. It was a stunning development. For example, at a time when inflation is 2 percent or so--according to the experts, at least, low inflation--he is proposing in his budget that the State Department have a 10.5-percent increase, an 11-percent increase for education, a 9.5-percent increase for the Energy Department, and a 60-percent increase in the Transportation Department to fund high-speed rail with no money to back that up. It is stunning to me that we could have those kinds of increases proposed in a formal written document--four volumes--that the President is required to submit that I have on my desk back in the office.…





