Rep. Mica Concerned With the Growing Deficit
On Wednesday April 29th, Congress approved the FY2010 Federal budget. Rep. John Mica opposed the massive spending measure, and below are his comments on the passage of S.Con.Res. 13.
Madame Speaker,
I want to express my concern regarding the $3.5 trillion Federal budget, S.Con.Res. 13, passed by the U.S. House of Representatives yesterday.
The size of the deficit in this budget, some $1.7 TRILLION for one year, is almost beyond comprehension. This could be a prescription for future debt disaster for our nation’s finances. Even the United States can go bankrupt if we continue spending at this rate.
In the first 100 days of the new administration, Congress and the administration have run up more debt than the entire 8 years of the Bush Administration. The spending in the first three months includes a $787 billion so-called stimulus, a $406 billion Omnibus bill which increases discretionary spending by 10% this year, and hundreds of billions in TARP dollars.
Not only does the 2010 budget represent astronomical deficit spending, it also raises taxes by $1.5 trillion (that’s TRILLION) dollars.
At some point soon this deficit spending, taxation and increased national indebtedness will have dramatic and negative consequences for our nation.
With my regards and best wishes, I remain
Congressman John L. Mica
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