President Obama has presented his 2011 federal budget which spends $3.8 trillion for education, military and numerous other initiatives, but local Congressman Lamar Smith says the budget will do more harm than good when it comes to the economy.
"The President's budget spends too much, taxes too much, borrows too much and sets records in spending, borrowing and taxing. That is not good for the country, it's not good for economic growth and it's not good for job creation," said Smith.
The Congressman suggests that the President should allow republicans to go line by line cutting any and all wasteful spending, and Smith says he would begin by canceling the rest the federal stimulus package since only about a third of the funding has been awarded so far.
"We have of course, the President saying, 'Well I'm going to try and reduce the deficit by freezing some parts of the budget,' but what he doesn't say is that he's only talking about freezing 1/8th of the budget and that doesn't start until after the next election," added Smith.
President Obama has presented his 2011 federal budget which spends $3.8 trillion for education, military and numerous other initiatives, but local Congressman Lamar Smith says the budget will do more harm than good when it comes to the economy.
much and sets records in spending, borrowing and taxing. That is not good for the country, it's not good for economic growth and it's not good for job creation," said Smith.
"We have of course, the President saying, 'Well I'm going to try and reduce the deficit by freezing some parts of the budget,' but what he doesn't say is that he's only talking about freezing 1/8th of the budget and that doesn't start until after the next election," added Smith.
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