The Obama-House Dem “Balanced” Approach: More Tax Hikes & More Spending

August 11, 2011

FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), John Barrow (GA-12), Sanford Bishop (GA-02), Tim Bishop (NY-01), Leonard Boswell (IA-03), Bruce Braley (IA-01), Lois Capps (CA-23), Dennis Cardoza (CA-18), Russ Carnahan (MO-03), Kathy Castor (FL-11), Ben Chandler (KY-06), David Cicilline (RI-01), Gerry Connolly (VA-11), Jim Costa (CA-20), Jerry Costello (IL-12), Mark Critz (PA-12), Henry Cuellar (TX-28), Peter DeFazio (OR-04), Raul Grijalva (AZ-07), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Kathy Hochul (NY-26), Tim Holden (PA-17), Rush Holt (NJ-12), Steve Israel (NY-02), Bill Keating (MA-10), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Carolyn McCarthy (NY-04), Jerry McNerney (CA-11), Michael Michaud (ME-02), Brad Miller (NC-13), Bill Owens (NY-23), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Collin Peterson (MN-07), Chellie Pingree (ME-01), David Price (NC-04), Nick Rahall (WV-03), Loretta Sanchez (CA-47), Kurt Schrader (OR-05), Adam Smith (WA-09), Betty Sutton (OH-13), John Tierney (MA-06), Niki Tsongas (MA-05), Pete Visclosky (IN-01), Tim Walz (MN-01), John Yarmuth (KY-03)

The Obama-Cardoza “Balanced” Approach: More Tax Hikes & More Spending
Democrats Unwilling to “Balance” the Actual Budget, Only Offer Same Job-Destroying Policies That Make a Bad Economy Worse

Washington — Even though getting America’s fiscal house in order to grow the economy again is more urgent than ever, President Obama and California Democrat Dennis Cardoza continue to offer nothing except their same failed policies of job-crushing tax hikes and even more deficit-busting spending. It has become increasingly clear that Cardoza and his Democrat leaders are unwilling to make the substantive changes needed to reverse the disastrous consequences of their failed spending and borrowing spree like supporting a balanced budget amendment to promise voters the government will live within its means.

“Middle-class families in California want Dennis Cardoza and President Obama to get serious about undoing the damage their Democrat spending and borrowing spree has done to the economy and America’s fiscal standing,” said NRCC Communications Director Paul Lindsay. “But instead, Cardoza and his Democrat leaders are continuing down the same ruinous path by talking about job-destroying taxes and debt-fueled spending at the worst possible time, rather than supporting a guarantee that the government will stop spending money it doesn’t have and get its fiscal house in order.”

President Obama has merely offered the Democrats’ same failed policy ideas of taxing and spending even more recently:

“The fact is that we didn’t need a rating agency to tell us that we need a balanced long-term approach to deficit reduction. That was true last week. That was true last year. That was true the day I took office.” (Remarks by President Barack Obama, 8/8/11)

As a reminder, these are the same policies the Democrats were claiming victory with just months ago:

“We are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again.” (President Barack Obama, State of the Union Address, 1/25/11)

But it is becoming increasingly clear these same failed policies will only make a struggling economy worse, not better:

“The president’s remarks did little to quell investors fears, as stocks hit fresh lows after he addressed the nation. The Dow Jones Industrial Average, which briefly fell more than 600 points, was recently down 520 points. The blue-chip index slashed more than 100 points after Mr. Obama spoke.” (Jared A. Favole, “Obama: ‘Renewed Sense of Urgency’ to Tackle Debt,” The Wall Street Journal, 8/8/11)

The need for serious efforts on debt reduction is increasingly urgent, but Dennis Cardoza and President Obama continue to double down on their calls for the same failed Democrat policies that contributed to this problem in the first place. Cardoza still hasn’t recognized that more taxes on California families and small businesses to fuel even more spending will only make matters worse.

The Obama-House Dem “Balanced” Approach: More Tax Hikes & More Spending http://ow.ly/60c0E #madeinwdc

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