Hatch Comments on President Obama’s Budget for FY2012

“Regrettably, this budget, keeps our nation on this reckless course, representing more unaffordable debt and spending fueled by tax hikes on hard-working American families and entrepreneurs.”

WASHINGTON – In response to the President’s fiscal year 2012 federal budget proposal, U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, released the following statement:

“Once again, President Obama has failed to craft a sound and honest budget that will meet the needs of the American people by confronting our nation’s greatest challenge: our ever-mounting, spending-fueled debt crisis.

“Regrettably, this budget keeps our nation on a reckless fiscal path, representing more unaffordable debt and spending fueled by tax hikes on hard-working American families and entrepreneurs. Riddled with budget gimmicks, this proposal’s deficit reduction doesn’t even pass the laugh test. In fact, its own 10-year deficit reduction projections are less than the total projected deficit for 2011 alone.

“The President’s proposal to freeze government spending is little more than a convenient talking point. The fact is that over the past two years, this Administration has increased discretionary spending by 24 percent and if you count the so-called stimulus package, spending is up nearly 84 percent. Freezing last year’s budget will only pave the way for the federal government to continue to spend too much, tax too much, and borrow too much which will stifle much-needed job growth.

“With at least $1.6 trillion in job-destroying tax increases, this budget fails to preserve the pro-growth policies needed to expand our economy, create jobs, and reduce the deficit. Keeping pace with its liberal tax-and-spend agenda, the Obama Administration hits almost every sector of our economy with a tax hike - energy taxes, taxes on hiring, higher income taxes. That's not how we get our country moving forward.

“As Congress considers this deeply-flawed budget, we need to reverse these damaging fiscal policies and advance a common-sense budget that will hold down spending, provide responsible tax relief for American families and fully restore our nation’s fiscal house.”

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