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Wednesday, February 16, 2011

Obama Threatens To Veto Budget That Cuts $100 Billion

Fox News Reports:

The GOP bill, separate from the 2012 budget President Obama unveiled on Monday, covers spending for the fiscal year that ends Sept. 30. It would cut $61 billion from 2010 levels and about $100 billion from the amount Obama requested, but never received, for this year.

As congressional Democrats slammed the GOP proposal as too drastic, the White House put out an official statement threatening to reject it.

"If the president is presented with a bill that undermines critical priorities or national security through funding levels or restrictions, contains earmarks, or curtails the drivers of long-term economic growth and job creation while continuing to burden future generations with deficits, the president will veto the bill," the Office of Management and Budget said in a statement.

Translation- Obama is refusing to honor the will of Americans that want government to control their spending and is trying to frame the debate with a bunch of bullshit.

Reminder of what Obama has asked for in his budget proposal:

The U.S. government would bring in $2.627 trillion in revenues and spend $3.729 trillion.

According to Obama's so-called "budget" proposal, our 2011 deficit would spike to $1.65 trillion.

The battle to end out of control spending on the part of the government has begun.

Even Democrats are joining Republicans in saying Obama is not showing leadership and not doing enough in his budget proposal to reduce the deficit.

House Majority Leader Eric Cantor (R-VA) today issued the following statement:

"The federal government is currently borrowing 40 cents of every dollar that it spends and we're averaging trillion dollar deficits each year, and the Obama-Reid plan is to... do nothing. The Obama-Reid plan advocates a so-called freeze that locks in bloated spending levels which increased 24% over the past two years and then takes any spending reductions and immediately 'invests' them back into more big-government spending. The status quo is not an acceptable or serious plan, and was overwhelmingly rejected by the people in the last election. It would continue to lead us down the road to massive debts, deficits and follows the flawed philosophy that Washington knows best when it comes to job creation and economic growth.

"In contrast, House Republicans are fully committed to using every tool at our disposal to rein in out-of-control spending so that we can foster an environment for economic growth and create jobs. This week, we are considering the Continuing Resolution which reduces spending by $100 billion and represents the single largest spending cut in modern history. Republicans have made clear that our budget will take the serious steps needed to start getting our fiscal house in order and get people back to work. We cannot continue to gamble away our children's future to back more government-sponsored stimulus efforts.

"Unfortunately, while Democrats talk a big game about fiscal responsibility, they then turn around and filibuster in the House and propose more ways to spend taxpayer money like this Obama-Reid plan. House Republicans represent only one third of the decision making process here in Washington, but we are the only group thus far that has been willing to lead. It is high time Democrats stop running from reality and work with us on common-sense policies to address the looming fiscal crisis and create an environment that encourages businesses to grow and create jobs. Mr. President, the opportunity is here for us to work together, but it's time to start leading."

The only thing Obama and Reid want to lead, is more spending sprees.