“This budget proposal is loaded with record level spending increases, tax hikes, and more debt. The President has talked about the need for greater fiscal responsibility in his recent speeches to the American people, but when he put pen to paper to write this budget the tough talk didn’t translate into action. This budget puts us deeper in the hole and closer to a grave fiscal crisis,” said Noem.
“In an area where we need leadership most, this budget does nothing to reform and save critical health and retirement security programs for future retirees. In fact, it continues the President’s policy of letting an unaccountable board of bureaucrats cut Medicare in ways that will lead to denied care for seniors. South Dakota seniors deserve better.
“Our nation is at a critical crossroads and we need serious fiscal leadership in Washington. I look forward to working with any Republican or Democrat who is willing to cut wasteful spending and reform the way Washington spends our hard-earned tax dollars,” concluded Noem.
By the numbers:
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Spends Too Much:
- $47 trillion of government spending over the next decade
- Proposes a net increase over current spending projections
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Taxes Too Much:
- $1.9 trillion in new taxes
- Raises taxes, not to pay down the debt, but to fuel more government spending
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Borrows Too Much:
- Four straight years of trillion-dollar-plus deficits; no plan to reduce the debt
- Gross debt at the end of FY22: $25.9 trillion
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Budget Gimmicks & Broken Promises:
- Overstates new deficit reduction by taking credit for savings already enacted
- Exploits discredited budget gimmick by “not spending” nearly $1 trillion that was never going to be spent
(Source: House Budget Committee)
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