Thune Responds to President's Budget Proposal

Statement

Thune Responds to President's Budget Proposal

Senator John Thune issued the following statement today regarding President Obama's $3.9 trillion budget proposal:

"People across this country are facing very uncertain economic times that are forcing some to make very difficult decisions when it comes to their personal, family, and business budgets. During difficult times it should also be the responsibility of those of us in Congress to prioritize and make tough choices on how to spend Americans hard earned tax dollars. In my opinion, this budget does not reflect the priorities of the people that I represent.

"This budget was an opportunity for Washington to tighten its belt and take a hard look at the wasteful programs that have spending out of control in this country. Instead this budget looks more like an all-you-can-eat buffet and yet has the potential to harm the farmers and ranchers that produce food and the alternative fuel that reduces our dependence on foreign sources of energy. I agree with President Obama that payment limitations could be tighter and supported legislation during the debate of the 2008 Farm Bill to do so. However, some of the savings claimed by this Administration would come out of the pockets of the hard working men and women of rural America, almost as though the economic times we are facing have had no impact on our agriculture industry.

"During his address on Tuesday night, President Obama touted that his Administration has already identified $2 trillion in budget savings. However, it seems that those `savings' actually would come from raising taxes on families and small businesses and reducing defense spending. Raising taxes on families and small businesses is not `savings,' it is wrong, especially in these trying economic times. With the significant deficit spending included in this budget, taxes would need to be raised on more than just those Americans making over $200,000 in order to meet the deficit reduction goals set by the Obama Administration. If this budget is approved, the budget deficit will total $1,750,000,000,000 for 2009, which is over 12 percent of Gross Domestic Product (GDP) in this country, an unprecedented level since World War II.

"The Obama Administration's goal of reducing the deficit from $1.75 trillion to $533 billion by 2013, which is still $78 billion higher than any previous deficit since our nation was founded 232 years ago, is not an accomplishment. Assuming the Democrat controlled Congress follows the Obama Budget, the public federal debt will double from $5.8 trillion today to $11.5 trillion in 2013.

"It is the job of those of us in Washington to enact laws and policies that will turn our economy around and create jobs, not pay for every program and project out there. The Obama Administration needs to put this budget on a diet and I look forward to closely scrutinizing it once the full budget plan is released in April."

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