Senator: Obama’s Budget “Defies the Fiscal Law of Gravity”

WASHINGTON, DC – Senator Lisa Murkowski today had the following reaction to President Obama’s budget proposal for the fiscal year that begins Oct. 1, 2012:

“My initial response to the President’s budget today is that it represents another missed opportunity. The President had an opportunity to show leadership and attempt to get our fiscal house in order when it comes to spending, entitlement and tax reform, but instead he is proposing adding another trillion dollars to our debt – ignoring the simple math that looms over our nation.

“Rather than following his own financial commission’s suggestions for a broad and comprehensive fiscal solution, the President went back to the ‘tax and spend’ playbook. He’s raising taxes on middle class Americans and eliminating tax credits for a few hand-picked companies. And where is that money going? More stimulus spending.

“When it comes to addressing our 15 trillion dollar debt, the budget President Obama proposed today defies the law of fiscal gravity – what goes up must come down.”