Democratic Leaders Respond to President Bush's Budget Proposal
Speaker Nancy Pelosi:
"The American people expect our nation's budget to chart a course that reflects their values and aspirations, makes critical investments in our future and is fiscally responsible. The President's budget fails to meet those standards."The President's misguided budget cuts health care for seniors and working families, freezes lifesaving medical research, raises health care costs for veterans, and slashes energy assistance--all at a time of rising prices and a slowing economy. And once again, the President does not fully account for the true cost of the war in Iraq.
"This President has presided over the five largest budget deficits in American history, leaving a legacy of debt to the next generation that will dramatically undermine our nation's strength.
"Democrats reject the misplaced priorities of the President's budget, which once again is a step backwards for our nation. The Democratic-led Congress will offer a budget that takes America in a New Direction, making critical investments to strengthen our economy and create jobs, helping Americans struggling with the high costs of health care, energy, and groceries, and working to restore fiscal responsibility.
"While we cannot support the budget the President proposes, Democrats stand ready to work in a bipartisan way to craft a budget that better reflects America's values and priorities and prepares us for a more prosperous future."
Democratic Leader Steny Hoyer:
"President Bush's final budget is simply a continuation of failed policies that have created dangerous deficits and debt, while at the same time decreasing critical investments in our nation's future. In seven years, President Bush turned a $5.6 trillion projected surplus into a $2.4 trillion deficit, added $3.5 trillion to the national debt, and oversaw a decline in our government's capabilities as evidenced by the response to Hurricane Katrina and the treatment of our veterans at Walter Reed."Democrats will put forward a fiscally responsible budget that will be a blueprint for investing in America and tackling the Bush deficits and debt. It will focus on the American people's priorities, like reinvigorating the economy and increasing access to affordable and quality health care. An economic downturn is not the time for drastically reducing investment in health care, education and job training, as the President proposes.
"We will also continue to reject the President's reckless fiscal policies that are hindering our ability to meet the challenges of today, including the sluggish economy. The President's proposals for ferreting out wasteful spending are dwarfed by the more than $700 billion that would be added to the deficit over the next five years from extending his tax cuts that largely benefit the wealthiest Americans.
"In addition, President Bush's budget does not reach balance, as he claims. He fails to acknowledge the true cost of continuing to referee the civil war in Iraq -- a war that is diverting needed resources from our economy and people here at home. He also does not honestly deal with the Alternative Minimum Tax, effectively implementing a stealth tax increase on the middle-class to achieve balance by 2012.
"Despite my deep concerns with the President's budget, I am hopeful that we can build on our success with a bipartisan economic stimulus and find areas of agreement. Democrats will continue to reach out to the President and Republicans in Congress for effective ways to invest in America's future and reduce our nation's debt."
Democratic Whip James Clyburn:
"Today, with the release of his unrealistic and uncompassionate budget proposal, the President has cemented his legacy as one of our nation's worst fiscal managers ever. Instead of working with Congress to secure our nation's entitlement programs, this Administration has consistently sought to undermine America's seniors and aging baby boomer population by refusing to adequately invest in our Medicare and Social Security programs."With our federal budget deficits expecting to reach near record levels in fiscal years 2008 and 2009, this Administration continues to irresponsibly advocate for permanent tax cuts for the super-rich while average hard working American families struggle to make ends meet. With our current fiscal year debt likely to exceed $410 billion, this President prefers extending enhanced tax incentives to millionaires and billionaires rather than developing a fiscally inclusive budget that properly protects our homeland, upgrades our public health systems, and invest in our education systems.
"Our economy is underperforming, our housing markets are faltering and the American people are ready for a New Direction that returns us to the days of budget surpluses, steady job growth, and overall economic prosperity. This reality can only be achieved by the President cooperatively working with the Congress in a bipartisan and bicameral way that prioritizes the needs of all Americans and not just the privileged few."
Democratic Caucus Chairman Rahm Emanuel:
"One thing we can say about President Bush and his budgets: at least he's consistent. President Bush has run deficits for seven straight years, and this year is no different. The President has submitted a budget that would saddle America with one of the largest budget deficits in history, while cutting health care for seniors and education for our children. Democrats will propose a budget that is balanced and is balanced with our priorities."President Bush's Budget Deficits
FY 2002: $158 Billion
FY 2003: $378 Billion
FY 2004: $413 Billion
FY 2005: $318 Billion
FY 2006: $248 Billion
FY 2007: $162 Billion
FY 2008: $410 Billion
FY 2009: $407 Billion
TOTAL: $2.49 Trillion