WASHINGTON, (Sputnik) — US Congressmen strongly criticized US President Barack Obama’s 2016 Budget Proposal for excessive spending, heavy taxes and for being misbalanced, according to the republicans’ statements.
“The President’s budget calls for over $2 trillion in new taxes, adds more than $8 trillion to our out-of-control national debt, and never balances. After six straight years of trying to have it all and losing control of both the House and Senate in the process, it’s time for the President to try something new: listening to the American people,” US Senator John Cornyn said on Monday.
Obama unveiled the $3.99-trillion budget on Monday, saying it is aimed to improve the country’s infrastructure and help the middle class.
The budget foresees a $474 million deficit, accounting for 2.5 percent of US gross domestic product. However, the White House claims it would be able to reduce the deficit in the next couple of years by lowering spending, making economic improvements, and increasing taxes.
Senator Dan Coats, a chairman-designate of the Joint Economic Committee and a member of the Senate Finance Committee, accused the Obama Administration of not addressing the debt and deficit.
“The president’s proposal is a political wish list that will keep our nation’s balance sheet firmly in the red,” Coats said. “Washington must break its ongoing tax and spend cycle to create an economic climate that gives all American families an opportunity to prosper.”
The budget includes $561 billion for defense, nearly $38 billion more than the congressionally imposed budget cap that went into effect in 2013. Obama stressed that he would not support a budget proposal that includes mandatory cuts to defense spending, known as sequestration.
“It’s no coincidence that the President is releasing his budget on Groundhog Day – it’s yet another budget that never balances, bursting with massive big government spending and burdensome taxes and regulations that have become the unfortunate trademark of the Obama administration,” Senator Steve Daines said in the statement.
Obama said on Monday that US middle class taxes can be reduced by closing tax loopholes for the wealthiest.
The President is required by to submit a budget proposal to Congress each year, although it legally amounts to guidance on spending because only Congress has the power to determine how to spend taxpayer dollars. In response to Obama’s proposal, Congress will send its version of a budget to the White House, which the President then has to sign-off on.