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Pete’s Perspective on Deficit Spending in the House Budget
Washington,
Mar 31 -
This week the House is scheduled to vote on the federal budget. During debate on the budget, various numbers will be discussed. However, it is clear that this budget will far exceed the highest level of deficit spending in American history.
The 2010 budget calls for $3.6 trillion in spending and a $1.2 trillion deficit.
This comes on top of significant spending over the past few years. The first budget after the switch in majority of Congress tripled the deficit in Fiscal Year 2008, reaching the then-record high of $459 billion. The projected deficit for this year is an astounding $1.8 trillion.
According to the non-partisan Congressional Budget Office, the budget sent to Congress by President Obama would average $1.01 trillion deficits per year over the 2009-2019 period. The lowest deficit in the Obama budget is $658 billion in 2012, which is still significantly higher than any previous deficit in U.S. history.
I have strong reservations about the amount of spending coming out of Washington and the accumulating national debt. The budget offered by the majority party will be placed on the backs of every American and every future American to fund ineffective, wasteful government programs.
If deficit spending were the answer to expanding the economy and creating jobs, the current $1.8 trillion deficit would have the country on solid ground.
I look forward to debating the House Republican budget alternative that limits the federal budget from growing faster than family budgets, lowers taxes on working families and ends bailouts
The Republican Road to Recovery
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