Senator Jeff Sessions [R-AL]-Ranking Member of the Senate Budget Committee says this budget doesn't avoid fiscal nightmare. "Mr. Lew says on the television program that we will be paying down our debt. There is no plan in this budget to pay down the debt." The budget calls for a one trillion cut over ten years. So basically we will be going from 14 trillion in budget to 13 trillion. Wow that is a big cut. To cut the budget only one trillion dollars is not good enough. The president does not reduce any spending in any of the years in his proposal.
With the proposed plan, I wonder does the president really want to fix the deficit problem. The president needs to do something. According to Speaker of the House John Boehner [R-OH] "We are broke." Congressman Scott Garrett, Vice Chairman of the House Budget Committee [R-NJ] had the best quote when talking about Obama and his budget proposal, "Just knowing this, the budget that he's [Obama] given us really kicks the problem down the road, just like everything else he's done since coming into office." The deficit has double since Obama has come into office and most likely will triple by the time this is over. The budget does not even touch entitlements. 85% of federal budget remains off-limits for spending cuts. This means that only 15% of the budget is being discussed. Republicans want more cuts to the budget.
Here is how the Budget Proposal breaks down for 2012. The 2012 fiscal year starts October 1st.
-$1.1 Trillion in Deficit cuts over 10 years
-2/3= Budget Cuts
-1/3= Tax increase
- National Debt is $14 Trillion
Senator John Cornyn [R-TX] says he is disappointed that the president made such a half hearted effort. You can read part of the budget here at http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/budget.pdf
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