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Lamborn Statement on FY2011 Budget
02/01/10 Congressman Doug Lamborn (CO-05) issued the following statement regarding the FY2011 Budget that was released today.
“This $3.8 trillion dollar budget does not square with the President’s call for fiscal responsibility. It spends, borrows, and taxes too much.
“The President’s so-called spending freeze only applies to 13% of the total budget and doesn’t even go into effect until next year.
“This budget doubles our national debt in five years.
“This budget boosts the annual deficit to a record level this year -- $1.6 trillion – which is 10% of our gross domestic product. This is the largest deficit as a share of the economy since World War II.
“By the Administration’s own estimates, the budget increases already too-high taxes by more than $2 trillion over the next ten years.
“I had hoped the President was sincere when he called for more fiscal restraint in his State of the Union Address, but sadly, it appears to be little more than rhetoric. This continued spending, borrowing, and taxing is unsustainable.”—Congressman Doug Lamborn (CO-05)
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