Texas Insider Report: AUSTIN Texas
President Obama just keeps digging our ditch deeper & deeper increasing the mortgage on our childrens future. The budget proposal from President Obama is another reckless tax spend & borrow scheme and is not a serious solution to getting our debt crisis under control or to rein in federal spending.
Lt. Governor David Dewhurst following President Obamas 2013 budget proposal release Monday.
ALSO HERE: The President 2012 Budget came under fire from all sides of the spectrum as analysts note it has been more than 1000 days since the U.S. Senate last passed a budget.
Sen. Harry Reid stayed mum" on the Presidents proposal choosing instead to focus on the mundane goings-on of the Senate chamber in his opening remarks." A Bloomberg editorial says the plan is a missed opportunity to confront serious tax reform noting that the plan includes dozens of tax initiatives" including tax increases. The editorial concludes that the plan makes the tax code murkier than it already is."
According to Roll Call a widely-read Capitol Hill newspaper even Senate Democrats remained quiet after President Obama announced his plan.
And a USA Today editorial stated this morning that the budget proposal fails the one test that matters reducing our national debt.
The best test of a budget proposal these days is whether it reins in the national debt which is projected to equal a troubling 74 of gross domestic product this year. The last time the publicly held debt was that high as a percentage of the economy was in 1950 when the nation was still paying off the stupendous amount of money it had to borrow to fight and win World War II.The election-year budget President Obama sent to Congress on Monday fails that test."
Obamas Budget Plan Leaves Debt Bomb Ticking USA Today 2/13/12
