First Senate Budget in Four Years Increases Taxes, Spending, and Fails to Balance

| March 25 2013

First Senate Budget in Four Years Increases Taxes, Spending, and Fails to Balance

Arlington, Va. – The Senate on early Saturday passed its first budget in four years. The budget does not balance, includes $975 billion in new taxes, stops the sequester and increases spending.

Public Notice Executive Director Gretchen Hamel issued the following statement:

“Budgets spell out priorities, and it is unacceptable that the Senate has ducked out on this task for so long. While we commend the Senate for finally passing a budget after four years, this plan not only increases taxes and spending, it fails to balance and does nothing to address our long-term deficit problem.

More worrisome is that, for all the posturing surrounding the Senate and House budgets, there is little chance we will actually see a new budget because both chambers have to pass the same budget for one to take effect. Federal spending has been on autopilot for far too long. We are nearly $17 trillion in debt, Social Security will be insolvent in 20 years, and Medicare will go broke in 11 years. While Congress plays politics, our deficits continue to add up, and these important programs inch closer to crisis. Americans expect more and deserve better.”

BankruptingAmerica.org is an educational project of Public Notice, an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing facts and insight on the effects public policy has on Americans’ financial well-being.

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