Excerpts from The Washington Post
By: Sen. Jeff Sessions and Rep. Paul Ryan
February 16, 2012
““President Obama has delivered the last budget of his term…Each of the four proposed more than $1 trillion in higher taxes on hard-working families and businesses, along with trillions in new spending and borrowing instead of a real strategy for growth and jobs. None of the four offered a credible plan to lift the crushing burden of debt, committing current and future generations to diminished prosperity and a nation in decline.
“The White House claims to include $4 trillion in deficit reduction, the president’s budget actually contains virtually no credible deficit reduction at all. Under his plan, the government is projected to borrow $11.2 trillion over the next 10 years. This is roughly the same amount of debt we are expected to incur under realistic projections of current policy.
“The president has used a series of gimmicks to create the illusion of fiscal responsibility. He exploits the winding-down of overseas combat operations to claim almost $1 trillion in ‘savings’ over 10 years — money that was never requested by our military and was never going to be spent...
“We see serious danger in shrugging off the president’s dereliction of duty — a danger compounded by Democratic leaders in the U.S. Senate, who have refused to offer any budget at all for more than 1,000 days. The unsustainable growth of government spending is pushing the nation ever closer to a debt-fueled economic crisis…
“Sluggish growth, stagnant wages and widespread joblessness have imperiled the economic security of millions of Americans…
“We refuse to accept the diminished future outlined by President Obama’s budget. A growing bipartisan consensus recognizes the core elements our country needs: responsible spending restraint; a repaired safety net; reforms that ensure real health and retirement security; and a simplified tax code oriented toward growth…
“The American people demand leaders that take seriously their legal and moral obligations to put forward credible budget plans. In the House and Senate budget committees, we will continue to work with our colleagues to advance bold solutions that lift our crushing burden of debt and ensure a future of opportunity, growth and prosperity.
“If this president refuses to lead, the American people will be given an opportunity to chart a new way forward to ensure a new era of prosperity, for this generation and for generations to come.”
Click Here To Read The Full Op-Ed: http://wapo.st/zB1q4u
Budget and Spending Budget and Deficit Spending