REP. REID RIBBLE RESPONDS TO
PRESIDENT OBAMA’S FISCAL YEAR 2012 BUDGET

--Ribble Says Budget Spends Too Much, Borrows Too Much, Taxes Too Much --

Washington, D.C. – Congressman Reid Ribble, a freshman member of the House Budget Committee, today responded to the delivery of President Obama’s fiscal year 2012 budget to Congress.

“I came to Congress to make sure that my children and grandchildren weren’t saddled with massive debts and deficits that they can’t afford. The President’s budget, while it claims austerity, is anything but small,” Ribble said.

“Frankly, this budget taxes, spends and borrows too much,” said Ribble. “The President has good intentions here with many of these programs, but we simply don’t have the money for it.”

“If we’re going to have an ‘adult conversation’ about spending it’s going to require that every program be laid on the table for review. Everyone is going to have to make sacrifices so that we can foster an economy that is robust enough to help create jobs and give entrepreneurs confidence to take risks. The number one priority of this budget should be: is this putting our country back on a pro-growth track to help create jobs? I don’t see that from this budget,” said Ribble.
 
Key facts from President Obama’s Fiscal Year 2012 Budget (courtesy Chairman Paul Ryan):

-    Spends Too Much

• $3.8 trillion in spending this year; 25.3% of GDP (highest since WWII)
• $46 trillion in spending over the decade; $8.7 trillion in new spending

-    Taxes Too Much

• $1.6 trillion tax hike on families, small businesses, and job creators
• Revenues as a percent of GDP climb to 20%

-    Borrows Too Much

• $1.6 trillion deficit for FY2012; a record third straight trillion dollar deficit
• Doubles and then triples debt held by the public since President took office
• $13 trillion added to the debt over the decade

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