Today U.S. Senator Mike Enzi, R-Wyo, Chairman of the Senate Budget Committee, said President Obama’s budget proposal would leave every American holding the tab, stuck with deficits and debt as far as the eye can see.
“Every year since he took office, the president has proposed the same approach to the fiscal challenge facing our government,” Enzi said during a Senate Budget Committee hearing. “He wants to spend more, he wants to tax more, he wants to regulate more, he wants to borrow more, he wants us to owe more, and more, and more.”
Under the president’s proposed budget for Fiscal Year 2016, taxes would head $2.1 trillion higher, along with an increase of $259 billion of new spending in the next fiscal year, and $2.4 trillion over the next ten years, a 65 percent increase. Annual interest cost would triple, from $229 billion today to $785 billion in 2025.
“Altogether, these were not the numbers I was looking for,” said Enzi. “I meant it when I said last week that we must confront spending, bring the deficit to an end and, ultimately, balance the budget. The president’s proposal fails all three elements of our mission.”
According to Enzi, both parties, both chambers and both ends of Pennsylvania Avenue have allowed this way of doing business to become the new normal of how we operate.
“We keep coming up with brilliant ideas for new ways to spend to fill in gaps and gifts that we haven’t been giving,” said Enzi. “We don’t really take a look at what we already have and need to weed out things that don’t work. We pretend everything we do is perfection and with guilty conscience we try to do more, instead we should be doing better.”
Enzi said that despite the president’s unrealistic budget, he did get a sense from committee members on both sides of the aisle that there is a willingness to identify areas of agreement and he looks forward to doing that.
Click here for a copy of the full speech.
Click here to download a video of excerpts of the speech.