By Erik Wasson - 02/14/11 03:57 PM EST
The Republican chairman of the House Budget Committee and ranking member of the Senate Budget Committee immediately blasted President Obama’s 2012 budget upon its release Monday morning, taking aim especially at its proposal to allow Bush-era tax breaks to expire in two years.
“Failing to heed the warnings of economists and the demands of the American people, the President’s budget accelerates our country down the path to bankruptcy. Far from ‘living within its means,’ the President’s budget puts the government on track to nearly double in size since the day he took office — a direct result of his party’s reckless spending spree,” House Budget Committee Chairman Paul Ryan (R-Wis.) said.
“His budget destroys jobs by imposing a $1.6 trillion tax hike, adding $13 trillion to the national debt and fueling uncertainty in the private sector,” he added.
Senate Budget Committee ranking member Jeff Sessions (R-Ala.) said, “President Obama has failed to lead in the face of this growing crisis. Today he submitted a budget to Congress that accelerates our dangerous trajectory. His budget increases spending every single year, eventually doubling the size of the entire government from what it was the day he took office.”
“The president’s budget also doubles the national debt by the end of his term, and then triples it by the end of the decade,” he noted.
The GOP notes that Obama is spending $8.7 trillion over the next decade compared to freezing all spending at 2012 levels and $13 trillion would be added to the national debt over ten years.
“If we follow this course it will be a national tragedy,” Sessions said.