WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today regarding the Congressional Budget Office’s re-estimate of President Obama’s FY 2014 budget submission:
“The new analysis from the Congressional Budget Office confirms, once again, that President Obama’s financial vision of the country is dangerously unsustainable. According to CBO his plan would add $7.6 trillion to the debt, despite increasing taxes by $972 billion. Indeed, the new taxes are almost entirely consumed by new spending.
The country can certainly find more ways to rein in expansive federal programs, departments, and agencies, yet the President’s plan is to tax more and spend more.
The strength of America lies in our constitutional heritage of economic freedom and lean, responsible government. The President’s financial vision clearly takes the nation in the opposite direction. It is a direction that grows Washington at the expense of the individual; it is tax and spend.”