February 14, 2011
WASHINGTON, D.C. – U.S. Sen. Jim Inhofe (R-Okla.), a leading Senate conservative, today responded to the release of President Obama’s FY2012 budget with the following statement:
“The release of this budget represents the continued failure of President Obama to take the nation’s fiscal crisis seriously. Submitting $3.73 trillion in spending of which $1.1 trillion is deficit spending lacks leadership and a true understanding of the problems we face. The proposed $1.6 trillion in tax increases are a detriment to our economic growth. Instead of using budget gimmicks and tax increases to shield the nation from the true fiscal problems, we need real spending cuts to reduce federal spending from the 24 percent increase enacted by Obama and the Democrats since 2008.
“Instead of the five year freeze of non-security discretionary spending at the currently inflated levels as the President proposes, we must actually reduce spending. That is why I will re-introduce the Honest Expenditure Limitation Program (HELP) Act. The HELP Act cuts non-security discretionary spending back to the 2008 levels and freezes them there for ten years. While it will not solve all of our spending problems, it will use actual spending cuts to help address our deficits.
“Looking at this budget, it is clear that the president is committed to his big government social agenda. His $8.7 trillion in new spending is paid for in-part on the backs of our military through $80 billion in cuts at the Defense Department.
“On energy, his budget, with its $43.6 billion tax increase on fossil fuels, would raise the price at the pump for consumers already struggling to pay for gasoline while having a devastating impact on the oil and gas sector of Oklahoma’s economy. This is a key part of his cap-and-trade energy agenda, designed to tax the energy that consumers actually use in order to redirect federal funds to green energy products. Such efforts will raise energy costs, hurt job creation and stifle the economy.”