Fiscal Responsibility

The House majority’s budget proposal taxes too much, spends too much and borrows too much. The budget contains at least $1.4 trillion in tax increases, yet still yields a projected 2009 deficit of $1.8 trillion (12.3 percent of GDP). This is the largest deficit as a portion of our economy since 1945, the last year of World War II. The House majority's budget proposal increases the national debt by $2.7 trillion this year to $12.7 trillion; it doubles the national debt in 5 years and triples it within 10 years. Right now, American workers need jobs, our job-creating sector needs all the help it can get, and our runaway spending needs to be curtailed. I cannot support a fiscal plan that fails to address these issues, and in fact adds to our problems.

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