Press Releases

Hensarling Statement on Obama Budget


 

Washington, February 9, 2016 - WASHINGTON -- Financial Services Committee Chairman Jeb Hensarling (R-TX)  issued the following statement regarding President Obama's Fiscal Year 2017 budget submission:
 
“Once again, the president submitted his budget after the statutory deadline and, once again, it wasn't worth the wait.  The only silver lining for American taxpayers is that this budget proposal is the last budget proposal from the Obama administration. With each and every budget that President Obama has submitted, he's had a chance to put forward something that recognizes the hard choices that must be made to avert what has been described as the most predictable crisis in American history: our oncoming spending-driven debt crisis.  Yet, each budget that the president has submitted has been one that ignores reality.
 
"Throughout his time in office, all we have gotten from President Obama are irrelevant budgets full of more spending fueled by higher taxes – all seemingly written to appease the Bernie Sanders-Elizabeth Warren-Hillary Clinton liberal wing of the Democrat party. Hardworking taxpayers deserve more economic opportunities so they can achieve financial independence, not $3.4 trillion in new taxes that will trickle down to middle income Americans, making it harder for them to make ends meet, buy a home or a car, or save for college.  We don’t need higher taxes; we need more accountable government spending.
 
“The fact that President Obama has only submitted two budgets on time in his eight years in office clearly demonstrates the importance he places on actually having a budget.  It's ironic that President Obama is quick to use his pen and phone, but slow to put forward a fiscal blueprint – regardless of whether or not it’s fiscally-responsible.    
 
"In contrast, since assuming the majority in 2011, House Republicans have put forward a fiscally-responsible budget each year that makes the hard choices necessary to avert a spending-driven debt crisis.  Last year, with a Republican majority in the Senate, Congressional Republicans not only passed a budget resolution through both the House and Senate - something that Harry Reid and Nancy Pelosi couldn't be bothered to do - but passed the first budget resolution that actually balances since 2001."
 
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