In a strong 97-0 rebuke of liberal former DNC Chairman Tim Kaine’s agenda of reckless spending and tax hikes, every single voting Democrat U.S. Senator joined Republicans in refusing to even consider President Barack Obama’s irresponsible budget proposal, which includes billions of dollars in wasteful deficit spending and job-killing tax hikes. To be clear – not a single Democrat U.S. Senator was willing to vote to even proceed with considering the Obama-Kaine budget.
Notably, as DNC Chairman earlier this year, Kaine was the #1 Cheerleader for the Obama budget proposal, calling it a “blueprint for success.” But, even months before the measure failed to garner a single vote in its first procedural hurdle, budget experts on both sides of the aisle blasted Kaine’s irresponsible scheme that includes $8.7 trillion in new spending, $1.6 trillion in tax hikes, and will add $13 trillion to the national debt, which already stands at a record-high $14.3 trillion in the wake of Obama and Kaine’s failed economic agenda.
“It speaks volumes that not a single Democrat Senator was willing to even consider Tim Kaine and President Obama’s fiscally irresponsible budget proposal,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond. “Today’s stunning 97-0 vote against Tim Kaine’s most specific policy proposal since ObamaCare is yet another glaring reminder that Kaine isn’t just outside the mainstream of Virginia – he’s too liberal even for his fellow Washington Democrats.”
Background Information:
Kaine Called Obama’s Budget A “Blueprint For Success”
Kaine Said Obama’s Budget Was A “Blueprint For Success” In Cutting The Budget To Reduce American’s Deficit And In Making “Bold Investments” In Education, Infrastructure And Other Areas “Critical To Economic Growth.” “In his State of the Union address, President Obama called on Congress to join him in two major efforts designed to help America win the future: making the tough choices and budget cuts required to reduce America’s deficit and restore fiscal stability while also making bold investments in education, innovation, infrastructure and other areas critical to economic growth. President Obama’s 2012 budget proposal is a blueprint for success in both those efforts.” (Democratic National Committee, “Chairman Tim Kaine’s Statement On President Obama’s 2012 Budget,” Press Release, 2/14/11)
Kaine: “The President’s Budget Does Not Shy Away From The Reality Of America’s Difficult Fiscal Situation.” (Democratic National Committee, “Chairman Tim Kaine’s Statement On President Obama’s 2012 Budget,” Press Release, 2/14/11)
But Budget Experts On Both Sides Blasted The Obama-Kaine Budget
ERSKINE BOWLES, Democratic Chairman Of The Fiscal Commission: “The White House Budget Request Goes ‘Nowhere Near Where They Will Have To Go To Resolve Our Fiscal Nightmare.’” (“Obama Spending Plan Criticized For Avoiding Deficit Commission’s Major Proposals,” The Washington Post, 2/14/11)
ROBERT BIXBY, Director Of The Concord Coalition: “The Entitlement And Tax Reform Agenda Will Apparently Be Deferred Yet Again … It Makes You Wonder What The Point Was Of Having A Commission In The First Place.” (“Budget Sets Battle Over Cuts,” USA Today, 2/14/11)
THE OBAMA-KAINE BUDGET SPENDS, TAXES, AND BORROWS TOO MUCH
Spends Too Much: $8.7 Trillion In New Spending
Despite this year’s $1.6 trillion deficit, the president still refuses to change course and reduce spending. Under his budget, the size of government will nearly double since the day he took office. Ignoring both economists’ warnings and the public’s demands for restraint, the president’s explosive growth of government crushes private-sector investment, fuels uncertainty for job creators, and guarantees a less prosperous future for all Americans. The price tag of the president’s budget for the next ten years:
Total spending: $46 trillion; $8.7 trillion in new spending
New entitlement spending, beyond assumed growth: $404 billion
Increase in non-defense discretionary spending since 2008: 24% (excluding stimulus)
Increase in discretionary spending above president’s own deficit commission: $353 billion
Spending this year under the president’s budget: Record $3.8 trillion; 25.3% of GDP (highest since WWII)
Taxes Too Much: $1.6 Trillion In New Taxes
The president’s big-government vision imposes a heavy cost: diminishing economic opportunity through massive tax hikes that depress wages and stifle job creation at a time when millions of Americans remain out of work. In total, the president’s budget imposes $1.6 trillion in new taxes on families, small businesses, and job creators, including:
- Income tax hike: $919 billion
- Death tax hike: $118 billion
- Transportation tax hike: $435 billion
Borrows Too Much: $13 Trillion Added To The Debt
Despite the urgent need to rein in our runaway debt, the president’s budget doubles debt held by the public by the end of his term and triples it by the end of the decade. Gross debt will eclipse the size of the entire economy this year and remain above 100% of GDP for every single year that follows. This crushing burden of debt is depressing economic growth today, yet the president’s budget fails to seriously meet this challenge and instead accelerates our country down the path to bankruptcy:
New debt: $13 trillion
Gross debt by end of decade: $26.3 trillion (107% of GDP)
Annual interest payments by end of the decade: $844 billion
Total interest payments on debt: $5.7 trillion
(Source: House Budget Committee, “The President’s Budget Spends, Taxes, and Borrows Too Much – Stifling Job Growth Today and Threatening our Economic Future,” http://budget.house.gov/News/DocumentSingle.aspx?DocumentID=224882, 2/14/11)
