His proposal raises taxes and increases government spending. It turns off the sequester even though the sky hasn’t fallen under the sequester, which is $85 billion in spending reductions from a $3.5 trillion budget.
Raising taxes won’t bridge the budget gap and will hurt the economy and job creation. The President and Congress already raised taxes $612 billion in January without any spending cuts.
A bipartisan effort on spending reforms is very necessary to strengthen America’s economy and to secure a strong future for our country.
Washington has committed to far more than it can afford, and we need leadership both in Congress and from the President to fix it. The President’s budget falls far short of what’s needed for economic growth and opportunity.