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Thune: Democrat Budget Pushes Spending to the Breaking Point

Borrows too Much, Spends too Much, Taxes too Much

April 3, 2009

U.S. Senator John Thune made the following comments after he voted against final passage of the Senate passed the Fiscal Year 2010 Budget Resolution by a vote of 55 to 43:

"Tonight the Senate passed up an opportunity to tighten their belts the way families in South Dakota and across this country have done in response to our current economic struggles. Instead, the Democrats crafted a budget that mirrored President Obama's budget, which doubles the total debt created by every president from George Washington to George W. Bush combined.

"Democrat leaders had an opportunity to lead by example in making the same tough choices that individuals and families have been forced to make, but unfortunately they chose to spend beyond the means of this generation and the next. We have a history in this country of sacrificing for the next generation, doing without so that our children and grandchildren will have a brighter future. What this Administration and the Democrat majority in Congress have done turns that ethic on its head and pushes our nation's fiscal health to the breaking point.

"I am proud, however, that my colleagues joined me in rejecting the utility and fuel cost hikes that would have certainly resulted from future climate change legislation. Such legislation would have a major negative effect on all consumers, particularly middle and lower income consumers, especially in these tough times.

"My Republican colleagues and I offered numerous alternatives that would have put our nation on the road back to fiscal responsibility, but partisanship ruled the day and the Democrats who control the Senate have passed a budget that will continue to borrow too much, spend too much, and tax too much. Although my Democrat colleagues defended a number of the President's budget plans, I am pleased that my amendment to block the Obama Administration's proposal that would reduce charitable giving was accepted, but overall there is little about this budget that I can support."
    Key points of the Democrat Budget:
  • Spends $3.9 trillion in 2009, or 28 percent of GDP, the highest level as a share of GDP since World War II.

  • Grows the size of government by 9 percent for non-defense programs in 2010 - for a total of 20 percent growth in these programs since 2008.

  • Increases the deficit by record amounts every year through 2014 - averages almost $1 trillion in deficits per year.

  • Explicitly raises taxes on families and small businesses by $361 billion over five years.

  • Raises taxes on half of small businesses with 20 or more employees - killing jobs since small businesses create approximately 70 percent of net new jobs each year.

  • Raises taxes on seniors that are dependent on dividend and capital gains income.

  • Does nothing to reform entitlement programs, which represent a $67 trillion liability for the next generation.