Murkowski Responds to President Obama’s “Groundhog Day” Budget of $2.1 Trillion in New Taxes
Senator Observes that President’s Budget is Repeat of Failed Ideas
Senator Lisa Murkowski today responded to President Obama’s budget proposal, which ignores spending limits contained within the bipartisan Budget Control Act that he signed into law in 2011:
“It’s fitting that today’s budget comes out on Groundhog Day – or Marmot Day back home – because it looks like something we’ve seen over and over again: more taxes, bigger government, less spending restraint, and the President ignoring the law.
“The Budget Control Act imposes limits on spending for a reason: to regain America’s economic footing. Yet today’s budget clearly ignores that bill and spends $74 billion more than permitted in the first year alone through new taxes in the middle of our sluggish economic recovery, totaling $2.1 trillion over the next decade.
“Since 2009, we have seen a 70 percent increase in our debt -- and the President’s budget digs us even deeper into debt. It’s time to have a realistic conversation about targeted cuts where they can be made and comprehensive tax reform. It’s unfortunate this President doesn’t seem to be interested in the same reality-based budgeting that families engage in around the kitchen table every month.”