Oversight

02.28.12

‘Shocking Report’: Sessions Reacts To Identification Of Trillions In Long-Term Waste, Inefficiency

"The Democrats running Washington want higher taxes that will shrink the private sector in order to expand the wasteful public sector." WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today about a new report from the Government Accountability Office detailing over one thousand examples of waste and inefficiency in the federal government. Among other findings, the GAO report points out that only a small fraction of waste i… Continue Reading


02.28.12

Sessions Delivers Remarks At Hearing With Secretary Of Defense, Confronts Common Myths On Defense Spending

"I fear… that these budget hearings may not be a good use of your time. The Senate Democrat leadership is refusing, for the third straight year, to bring a budget plan to floor. Has the Senate Democrat majority forgotten the warning of Admiral Mike Mullen, former Chairman of the Joint Chiefs, who told us the debt is the greatest threat to our national security? … But the president has submitted a budget plan that will continue the unsustainable course and increase our gross federal… Continue Reading


02.17.12

Sessions Insists That Obama Budget Chief Answer Straightforward Question

"I will ask again as I did at the hearing… does the president propose to increase or decrease spending levels from those agreed to under the Budget Control Act in August? … I was shocked when you-the president's budget chief-strenuously resisted answering this fundamental question. Eventually, you responded that the president's budget did, in fact, contain net spending cuts. This response is not only factually incorrect but represents, in my view, a continuing and deliberate obfusc… Continue Reading


02.16.12

Sessions: Budget Misrepresentations ‘Deal A Severe Blow To President Obama’s Credibility’

WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued a statement today following Treasury Secretary Timothy Geithner's testimony before the Committee: "The Administration continues to persist in the duplicity that this budget cuts spending when it increases spending by $1.5 trillion over the levels in current law. Even giving them credit for reducing war costs-all of which were borrowed-does not change the mathematical fact that spending is going… Continue Reading


02.16.12

Sessions Delivers Opening Statement At Budget Hearing With Treasury Secretary Geithner

"Secretary Geithner… you are a capable and loyal member of the administration. But, more fundamentally, you are a servant of the American people. You have an opportunity today to help us understand both the dangerous unsustainability of our fiscal path, and the depth of change needed to right our course… History will judge our conversation today. Do you believe that the president's budget provides the solution to our fiscal problems? Do you believe that $11.2 trillion in new fede… Continue Reading


02.15.12

The Obama 2013 Budget: A Summary And Analysis

The president's 2013 budget claims it will result in declining deficits from $1.3 trillion in 2012 (8.5 percent of GDP) to $0.9 trillion in 2013 (5.5 percent of GDP) to no less than $0.6 trillion in any subsequent year. The budget fails the pledge the president made on February 23, 2009 at his Fiscal Responsibility Summit: And that's why today I'm pledging to cut the deficit we inherited in half by the end of my first term in office.[1] But that is not happening in 2012-the last year of this … Continue Reading


02.14.12

Sessions To WH Budget Chief: You Work For The American People, Not The Obama Campaign

"Given the gravity of our fiscal crisis-and Mr. Zeints' obligation to present honest facts to the public-I asked him whether, if he was shown to be wrong, he would resign. I will soon be sending him a letter expressing my concerns from today's hearing and pressing for a straightforward answer to a straightforward question. Mr. Zeints must remember-he works for the American people, not the Obama campaign. And the American people have a right to know the truth." WASHINGTON-U.S. Sen. Jeff Sessio… Continue Reading


02.13.12

Honest Accounting Reveals President’s Budget Makes No Alteration To Disastrous Debt Course

The president claims that his fiscal plan will reduce the deficit by $4 trillion over the next 10 years, including the previously enacted $1 trillion Budget Control Act cuts that are part of current law. An honest analysis reveals, however, that the president's budget would only reduce the deficit by about $300 billion in comparison to what was agreed to in the Budget Control Act last August. In other words, the White House has utterly failed to meet even the minimum target they have identified … Continue Reading


02.13.12

Sessions On President’s Budget: ‘One Of Most Spectacular Fiscal Cover-Ups In American History’

"The White House claims they have introduced a plan to achieve $4 trillion in deficit reduction… But these assertions rely on a calculated series of budget gimmicks. An honest analysis proves that the president's plan achieves only $273 billion in total deficit reduction over ten years… Under this plan, we will accumulate $11 trillion in new gross debt… The vision the president has laid out today leads to a bigger government, a smaller middle class, and a painful debt crisis… Continue Reading


02.13.12

HBC And SBC Republican Summary Of President's FY2013 Budget

The President has not merely ducked from our fiscal and economic challenges, but-with his fourth straight budget flop-he has advanced policies that dangerously accelerate the crisis before us. His gimmick-filled budget fails to reduce the fast-rising debt, permanently entrenches unsustainable levels of government spending, and erects new barriers to upward mobility. His plan stifles economic growth, threatens the health and retirement security of millions of Americans, and commits the next gener… Continue Reading


02.10.12

Gimmicks The President May Use To Claim Trillions In Phony Budget Savings

When the president releases his budget on Monday, February 13th, he will most likely claim some large amount of "savings" in an effort to create the appearance that his administration is actually committed to cutting spending. However, we know from gimmicks in the president's past proposals that he may claim to "save" $3 trillion with no savings at all (which are properly defined as spending cuts). The only deficit reduction would stem from tax hikes that sustain wasteful spending. Here is how … Continue Reading


02.09.12

Obama’s Budget Gimmicks Produce Phony Deficit Claims

President Obama has submitted three annual budgets. The reestimates of those budgets by the Congressional Budget Office (CBO) demonstrate they were based on unrealistic baselines and faulty estimates of budgetary effects of the president's proposed policies. In fact, CBO's analyses show that the president has, on average, understated his 10-year deficits by almost 20 percent. The Administration's repeated under-estimation of the president's budget deficits can be attributed to three factors: … Continue Reading


02.07.12

Sessions Delivers Opening Remarks At Bernanke Hearing

"I am glad Chairman Conrad will be marking-up a budget in committee. But the mark-up will be a doomed exercise if your own majority leader decrees that the budget process will be shut down. Majority Leader Reid has effectively declared both a Senate Democrat budget - and the President's budget - dead on arrival." "While we can't predict the day a debt crisis will erupt - or what unknown event might set it off - we do know we are on a collision course…Yet Majority Leader Reid has closed t… Continue Reading


02.07.12

Obama's FY2012 Budget: A Failure of Leadership

A Detailed Summary and Analysis of President Obama's FY 2012 Budget… Continue Reading


02.03.12

Sessions Responds To Reid’s Breaking Announcement On Democrat Budget Plan

"By refusing to lay out a budget plan for public examination-a fact no one can deny-the Democrat Senate has forfeited the high privilege to lead this chamber." WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today as Majority Leader Reid announced that, for the third year in a row, he would not bring a budget plan up for public debate and amendment on the Senate floor: "It's been more than 1,000 days since Senate Dem… Continue Reading


02.01.12

Sessions, Snowe Explain Need For Honest Budget Act: ‘Washington Uses A Different Set Of Rules’

"Americans have a right to expect honesty, transparency, and accountability from their elected officials. They have a right to know that a cut is a cut, an increase is an increase, and that a price tag is accurate." WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, and U.S. Sen. Olympia Snowe (R-ME), Ranking Member of the Senate Committee on Small Business and Entrepreneurship, issued the following joint statement today regarding the Honest Budget Act: … Continue Reading


01.31.12

CBO’s Outlook Drastically Understates Nation’s Debt Path

The Congressional Budget Office baseline budget outlook dramatically understates-by nearly $6 trillion-the deficit and debt path that the nation is on. The agency's current law outlook shows deficits declining from $1.3 trillion last year to $1.1 trillion this year, and dropping further until fiscal year 2018, when it starts rising again. Using a realistic baseline, the nation will accumulate $9.8 trillion in public debt and $11.4 trillion in gross debt over the next ten years. The only reductio… Continue Reading


01.31.12

Sessions On Baseline: Spending To Increase Fifty-Three Percent, Debt By $11.4 Trillion

WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today regarding the release of the latest CBO Budget and Economic Outlook and the Committee's estimation that our nation's actual debt path would produce $5.7 trillion in debt above the CBO baseline: "An honest analysis tells us that spending is set to increase by 53 percent over the next ten years, producing an estimated $11.4 trillion in new gross debt. This is dangerously … Continue Reading


01.26.12

Sessions On President’s Debt Increase: Policies Growing Gov’t, Shrinking Middle Class

WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today ahead of the vote on the resolution of disapproval on President Obama's requested debt limit increase: "The president's request to borrow another $1.2 trillion dollars-all of which will be spent and gone within the next twelve months-brings America closer to what his fiscal commission co-chairs called 'the most predictable economic crisis in its history.' After last … Continue Reading


01.26.12

Sessions Delivers Opening Statement At First Budget Hearing Of 2012

"The president says he wants an 'America built to last.' But we can't do that with borrowed money. Debt is not an asset, spending is not a virtue, and borrowing is not a future." WASHINGTON-U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, delivered an opening statement today at a Committee hearing on the U.S. economic outlook. Sessions' remarks, as prepared, follow: "We are now entering the budget season for Fiscal Year 2013. Producing a budget for public… Continue Reading

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