M E M O R A N D U M
To: Reporters and Editors
Re: President’s proposed budget
Da: Monday, February 14, 2011
Sen. Chuck Grassley of Iowa made the following comment on the President’s proposed budget for Fiscal Year 2012 released today. Grassley is a senior member of the Budget Committee and the Finance Committee. He is former chairman and ranking member of the Finance Committee, with jurisdiction over tax policy.
“The President said families have to live within their budgets, but his proposal makes a mockery of that statement. Over 10 years, the debt balloons from $14 trillion today to more than $26 trillion. On any measure of debt, his budget makes things worse, not better. Instead of tax reform, there are the same scattershot tax increases used to pay for new spending. The President isn’t using his bully pulpit to develop a national consensus on any issues that require leadership and the use of political capital. President Bush stuck his neck out on entitlement reform, and it seems to me this President is avoiding a national debate on entitlement spending. It’s hard to reconcile the President’s stated goal of getting the economy moving with his preference for tax increases. Businesses have been crystal clear on tax increases and excessive regulations being the enemies of job creation. You add all that up, and the President’s budget is very disappointing.”