Tuesday, February 15, 2011

Colorado Congressional commentary on Obama’s FY 2012 budget

Senator’s Mark Udall and Michael Bennet - Congressmen Mike Coffman and Jared Polis released the following statements Monday in response to President Obama’s budget for fiscal year 2012.

Udall's statement:

"There are aspects of the President's budget proposal to like. Innovation has always been the hallmark of American economic strength. I agree with the President that investing in education, biomedical research and energy efficiency - among other economic drivers - are critical for us to win the global economic race. But our national debt is the single biggest economic and national security challenge we face. In that respect, I believe the President's budget - and a proposal by House Republicans to cut $100 billion in discretionary spending - both fail to fully address the real problem at hand.

"The President's own budget projects that the deficit will surge to an all-time high of $1.65 trillion this year. That reflects a tax-cut agreement negotiated in December, which I opposed because it would add $858 billion to our debt. Facing those kinds of numbers, relying on cuts to discretionary spending in order to pay down the debt is kind of like taking a pickax to an iceberg. We can't simply rely on changes on the margins and hope that alone will make our economy rebound.

Bennet’s statement:

“Although the President takes steps to rein in spending and reduce the deficit, the budget we pass should contain a comprehensive approach that builds upon the work of the Fiscal Commission.

“As this process moves forward, I will continue to work with my colleagues to bring the Fiscal Commission’s proposal to the Senate floor for debate. I remain committed to working with anyone, Democrat or Republican, to ensure our nation has a sustainable and secure economic future.”

Coffman’s statement:

“It’s unbelievable that given the imminent dangers posed by unsustainable levels of debt that President Obama drops another deficit-busting budget of $1.6 trillion on the American people.”

Polis’ statement:

“I applaud President Obama’s budget which goes to great lengths to reduce the deficit, while also placing a high priority on investing in education. By including new investments in innovative, outcome-oriented programs that build on the “Race to the Top” model and keeping the maximum Pell Grant at $5,550, his budget helps prepare students for the jobs of the future. It also expands resources for great teachers and charter schools, with which Colorado has seen great success at the state level.”

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