“To end the cycle of borrow and spend that has sent our federal budget into free fall over the past five years, America needs a new direction.  This Administration’s policies have taken us from record surpluses to record deficits, from fiscal restraint to budgetary recklessness.  The budget President Bush unveiled today recycles the same tired, failed ideas.

“The President’s request to make his tax cuts for the wealthy permanent will create permanent, destructive deficits, mortgage our children’s future and undermine American competitiveness in the global economy.  His proposals to cut $36 billion in Medicare spending over the next five years, reduce reimbursements to health care providers and increase premiums for some Medicare beneficiaries will seriously weaken the program that provides health care to 42 million Americans.  It cuts federal investment in critical medical research, including at the National Cancer Institute and the National Heart, Lung and Blood Institute. The President’s budget projects another record deficit in excess of $400 billion next year, yet it doesn’t fully account for the cost of the ongoing war in Iraq for which the Administration has no exit strategy.

“Maine will be severely affected by the drastic cuts the President’s budget proposes for Medicare, children’s health care, student loans, business start-up grants and other programs that benefit children, families, seniors and small businesses.  Inadequate funding for the special education, homeland security and No Child Left Behind programs will pass along the costs of these federal mandates to state and local taxpayers.

“Congress will now consider the President’s proposal in the form of a budget resolution.  Unless Congress makes significant changes, the President’s misplaced priorities will be enacted.  Last year, the majority rubber-stamped the President’s budget, and we saw the consequences: cuts to student loans, Medicaid, LIHEAP, and new taxes that added to the deficit.  As a member of the House Budget Committee, I am prepared to work with Republicans and Democrats to restore fiscal responsibility and to invest in health care, education, sound energy policies and innovative strategies to keep our American economy strong.”