Obama budget spends and taxes too much, cuts too little, doesn’t create jobs

The Obama Administration budget released today will not create the new private sector jobs or cut enough from the federal deficit to restore the nation’s economy, according to House Republican Conference Secretary John Carter.

"This Administration has buried the nation in debt with their stimulus spending spree over the last two years, and we have to return to 2008 levels to even begin the process of balancing the budget," Carter says. "Instead, the President would impose a $1.6 trillion tax hike, continue big spending on new projects, and send the national debt over $26 trillion."

"We have to put the new projects on hold, we have to put a moratorium on the massive and costly new regulations the Administration would put on our businesses that will cost thousands more jobs, and we have to make substantial cuts in existing non-essential programs," Carter says. "A good first step is to cut the remaining 2011 fiscal year spending by over $100 billion in the continuing resolution we are considering this week."