WASHINGTON – Congressman Jeb Hensarling (R-Texas), a leading conservative and chairman of the House Financial Services Committee, issued the following statement regarding the budget President Obama submitted to Congress today, 65 days after the statutory deadline:
“Apparently, the president assumes the American people are grading on a very steep curve when it comes to his budget passing the test of fiscal responsibility. I don’t know any other explanation for President Obama submitting a budget that increases spending by $964 billion, adds $8.2 trillion to the national debt, raises taxes by $1.1 trillion, largely ignores the major drivers of our nation’s debt, and doesn’t come close to balancing – ever. This year, President Obama doesn’t even get a participation grade for merely submitting a budget, as this budget is 65 days late and marks the first time in over 90 years that the presidential budget submission was not the starting point of the budget process.
“Shrinking paychecks combined with increasing gas and grocery prices have left Americans struggling to make ends meet. The last thing they need is for their president to raise their taxes, add more regulatory uncertainty for job creators, and ignore our looming debt crisis. These hardworking Americans want opportunity and a main street economy where, if they work hard and play by the rules, everyone can succeed.
“The balanced Republican budget provides the fairer economy and greater future for our children that the American people demand, and I was proud to support it.”