WASHINGTON, D.C. – Sen. Orrin Hatch and Rep. Chris Stewart weighed in on President Barack Obama’s proposed Fiscal Year 2014 Budget.
Hatch, ranking member of the Senate Finance Committee, said Wednesday the president’s budget that was released two months late was a “disappointment” that includes almost a trillion dollars in new spending, $1.1 trillion in new tax and revenue increases, and raises the nation’s near $17 trillion debt by more than $8 trillion.
“What a disappointment this budget is,” Hatch said. “Not only is it two months late, but the President’s budget is a rehash of the same tax hikes, spending increases and deceptive budget gimmicks that have already been rejected by Democrats and Republicans alike.”
Hatch continued: “Falsely claiming $1.8 trillion in deficit reduction, as the president proposes, isn’t the kind of leadership the people of Utah and America deserve. Confronting our debt crisis with such an unbalanced set of massive tax increases, as the President does in his budget, will only result in less economic opportunity for middle-class families and small businesses, and more government spending from Washington. After last week’s dismal job numbers where the labor force dipped by a half-a-million workers and the labor force participation rate fell to the lowest since the early years of the Carter Administration, we need policies that grow our economy, the paychecks of the American people, and opportunities for our children and grandchildren – not grow our government as the President proposes in his budget.”
A more detailed treatment of the president’s budget by Hatch is available on the senator’s website.
“While I’m stilling reviewing the President’s budget, it appears to have missed the mark on the fundamental crisis we are facing. It continues to expand the size of government by spending more than $964 billion above projected growth, asks for $1.1 trillion in new taxes, and most troublingly, it never balances. Calling for new taxes and increased spending is not the right solution. The President already had his tax increases. It’s now time to meaningfully reduce our spending.”
“Just a few weeks ago, the House passed a reasonable and responsible budget, a budget that simplifies our broken tax code, protects national security, reforms Medicare and welfare programs so they can be sustainable, and balances the budget within 10 years. It targets wasteful government spending, and reforms the programs that are driving our debt. A balanced budget will foster a healthier economy, create stability, and help foster job creation. I hope that President Obama and Congress can work together to create a budget that will reduce our deficit and help grow our economy. We must have the moral courage to make the hard decisions that will get us on a path to fiscal sanity.”
Submitted: Offices of Sen. Hatch and Rep. Stewart