President Obama submitted his budget Wednesday, two months after the legal due date. U.S. Rep. Tom Rooney, R-Fla., has issued the following in response:
“The President’s budget offers a familiar but failed prescription for our struggling economy, high unemployment and skyrocketing debt – higher taxes, more stimulus and debt as far as the eye can see.
“While his proposals will not do nearly enough to shore up Social Security or Medicare, I am glad that the President has finally conceded the need for reforms to these critical programs. Converting to the ‘chained’ Consumer Price Index is a very small step in the right direction, and I hope we can build on this concession to find common ground for serious reforms that will save both Social Security and Medicare for future generations.
“However, these needed reforms should not come at the expense of economic growth and job creation, and the President should not hold them hostage in his effort to raise taxes. When combined with the tax increases in Obamacare and the tax hike enacted in January, the Obama budget calls for $2.7 trillion in new taxes over the next 10 years. Florida has been moving in the right direction for job creation over the last two years, but these tax hikes will hurt our small businesses, harm economic growth, and cost our state jobs that we desperately need.
“Even with all these new taxes, the President’s budget still adds $8.2 trillion in new debt and never balances, proving once and for all that we have a debt crisis because Washington spends too much, not because Americans don’t pay enough taxes.
“There is a better way forward to get our economy moving again, put Americans back to work, and ensure a bright future for our children by getting our fiscal house in order. House Republicans have passed a responsible budget that cuts waste, saves Medicare and Social Security, grows the economy through common sense tax reform, and balances within the decade.”
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