- United States
- Mo.
- Letter
Well, we now have the president’s budget, not a full budget and it’s 2 months LATE. It has very few details except that it has a LOT of borrowing. It has NO plan for how to address the drivers of our spending and deficit growth – remember when you used to care about debt and deficit – especially when democrats had the minority? Social Security is left to be insolvent within less than 10 years. The economic assumptions are a fairy tale – unrealistic!
There are NO summary figures of deficits or debt is included --- an shocking failure!
Deficits are larger than 6% of GDP and debt around the size of the economy, YET the president’s budget has NO plan for putting our budget on a maintainable path.
While burning through over a BILLION dollars a day in a war with no clear objectives no exit strategy, the budget wants to INCREASE defense funding by more than $3.2TRILLION over the next 10 years!! AND almost $800 BILLION is NOT PAID FOR – a fatal flaw for republicans in the previous administration.
More happy talk with the budget assuming a 3% annual growth over the next 10 years with NO DATA to back this up.
We are on an unsustainable fiscal path – the budget should have a plan to REDUCE deficit to ~3% of GDP or LOWER using REAL assumptions. No happy talk or fairy tale predictions.
I want to know WHAT you are going to do to reduce the deficit and have a BALANCED budget.