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Congressional Democrats have put the finishing touches on their $3.6 trillion 2010 budget blueprint and seem likely to bring it to a vote in the House of Representatives Wednesday. Rep. Tom Petri says he favors parts of the plan, but can't support the entire package.
"The budget that Congress will be voting on this week basically provides for deficits, even after the economy comes back as far as the eye can see and at far too high a rate," Petri said. "This can cause real problems if not corrected in subsequent budgets next year or the year after as the economy recovers and people see our government running too large a deficit. And the result would be that it would be harder to finance the federal debt and, perhaps, a spike in inflation."
Petri noted that he supported alternative budget proposals in April 2 votes.
"I voted for different versions of the budget when it went through the Congress that would have provided for smaller deficits or possibly even, under some assumptions, a balanced budget when the economy returns," he said.
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