Furthermore, it is irresponsible to say that our dire fiscal situation is the result of the government not extracting enough money from the people who actually earn it. The President’s budget, with its massive new tax increases and permanent deficits, demonstrates yet again that our problem is spending.
Over the past few years, while Democrats exercised complete control over Washington, non-defense discretionary spending has grown by 24 percent – and by 84 percent if you include the bloated stimulus.
The simple fact is that our deficits have continued to grow in spite of increased revenues. On January 26, CBO published a report that found that federal revenues in 2011 will be $123 billion - or 6 percent - more than they were two years ago, in 2009. Our deficit and debt problems are not being driven by tax relief.
Tax hikes aren’t like finding a pot of gold at the end of a rainbow. As American families, small businesses and entrepreneurs well know that money comes from somewhere – namely their paychecks. And even if we spike taxes by over $1.6 trillion – as the President proposes – that will not help us to balance our books.
High spending is driving our deficits and that can only be solved with leadership to dramatically cut spending. We cannot afford to squander another opportunity to restore our fiscal house and the American people will not stop demanding real and substantial leadership on this vital issue. Congress must heed to the will of the American people and impose some much-needed fiscal discipline in Washington. Time is of the essence.