Joe Biden was supposed to deliver his FY24 budget to Congress on Monday, a deadline that he missed, and is reportedly planning to release his budget in March instead. Biden has repeatedly told Americans, “don’t tell me what you value. Show me your budget—and I’ll tell you what you value.”
Before Biden’s State of the Union Address, the American people have a right to know Biden’s plan to get our fiscal house in order and what his values are. We can only assume that Biden is delaying releasing his FY24 budget because it will double down on the same failed Far Left policies and government waste that created America’s current debt crisis—a fact that Biden would want to hide from the American public.
JOE BIDEN AND DEMOCRATS CREATED OUR DEBT CRISIS:
Since President Biden took office in January 2021, he and House Democrats have increased our 10-year spending trajectory by $10 trillion.
This includes ramming through their $2 TRILLION so-called "American Rescue Plan" that ignited the highest spike in consumer prices in forty years, including:
$400 billion for policies that reduced private sector employment such as expanding unemployment insurance benefits that too often paid Americans to stay home rather than go to work and dismantling the Child Tax Credit by removing work requirements.
Billions lost to fraud due to Democrats’ rejection of Republican safeguards.
Billions in inflationary waste and abuse, including:
$783 million worth of checks to federal prisoners.
$1,400 stimulus checks sent to potentially as many as 70,000 Japanese citizens living in Japan.
$15 million to build a sports complex for the 2026 World Cup.
$2.1 million for a golf course.
$2 million for a ski slope.
$140 million for a luxury hotel.
$5 million to build walking trails dedicated to the history of moonshine.
$1.2 million was spent on trash cans.
$2 million to build a 60-acre RV campground at a safari park.
And the list goes on…
To date, there are still almost $100 billion in unobligated COVID funds that Biden continues to try and push out the door.
After passing the so-called "American Rescue Plan," Democrats moved on, passing the so-called "Inflation Reduction Act," which included:
$80 billion to the IRS in order to target working families with audits.
Our federal debt is now over $31 trillion, levels we have not seen since World War II – and is projected to grow exponentially and could reach a massive 110% of GDP by 2032 ($40+ trillion).
Interest on this debt alone 10 years from now will reach $1.2 trillion, more than current funding for defense, health services, and veterans combined.
In the last four years, the Democrats have increased discretionary spending by 30% – over $300 BILLION.
America’s debt is currently higher than at ANY time in American history, even while revenue is the highest it's ever been.
Our debt is currently bigger than the entire U.S. economy.
President Biden and Senate Democrats must acknowledge the spending crisis they created and negotiate with Republicans on a new budgetary framework focused on fiscal restraint.
MAKE NO MISTAKE: House Republicans are committed to finding reasonable, responsible, and sensible solutions to our nation’s debt crisis. We know that the American people deserve a bipartisan solution that protects taxpayers and puts us on the path to balancing our budget.
HOUSE REPUBLICANS ARE RESPONSIBLE, LOGICAL, AND REASONABLE:
House Republicans will not be negotiating through the press.
With over $31.4 trillion of debt, House Republicans are fighting to put us on a path to balancing the budget.
House Republicans are committed to finding reasonable, responsible, sensible solutions to our nation’s debt crisis.
When Republicans were in the Majority for eight years, the discretionary spending went DOWN $10 BILLION.
One of the messages sent in the midterm is that our government has to get our fiscal house in order.
House Republicans are going to stand strong when it comes to bringing us on a path toward fiscal responsibility.
This process is just getting started, and it is going to lead to good governance and fiscal responsibility on behalf of the American people.
Raising the debt limit without discussing how to get our debt and deficits under control means we are just scheduling the next debt crisis.
Spending reforms have traditionally been part of bipartisan debt ceiling negotiations. In fact, all 11 main spending reforms and reductions since 1985 have been attached to legislation that raised the debt ceiling.
Congress’s responsibility to meet our country’s financial obligations goes beyond just raising the debt limit – we must not allow debt to spiral out of control and burden future generations.
There is an opportunity here to come to an agreement on both sides – and that’s what the American people want.
