Congressman Bill Shuster released the following statement on the President’s FY 2012 budget proposal:
“If you believed the President in his State of the Union Address when he talked about his commitment to ending unsustainable spending, you would think he presented the wrong budget to Congress today. Here we sit $14 trillion in debt with our heads underwater and the President proposes more spending, more borrowing and more taxes on a recovering economy.
You don’t throw an anchor to a drowning man. You don’t create jobs, grow an economy and reduce debt by spending more than you can afford. At no point in the President’s 10 year budget proposal will the government spend less than it will take in. The national debt under the Obama budget will increase by $7.2 trillion, with 40 cents of each indebted dollar paid to foreign creditors like China.
The American people made their voices heard in November. They want to stop the runaway spending binge President Obama and the Democrats started. I look forward to working with my Republican colleagues in working to present our own budget that will cut spending, burdensome regulations and taxes to put the economy back onto the path of growth and opportunity.”