On the Friday afternoon before Memorial Day, President Joe Biden unveiled his budget proposal for 2022. His plan outlines $6 trillion of spending over the course of one year. This represents a 36% increase in spending over 2019 (pre-pandemic) and comes at a time when our country is over $28 trillion in debt.
It's hard to believe that someone entrusted with the well-being of our country would propose such a reckless plan that will drive our country even deeper into debt. Every cent of this debt needs to be repaid, so the U.S. cannot afford to continue this spiral into debt, essentially buying things today with a credit card in the name of our children and grandchildren. It is immoral to rob them of financial freedom tomorrow to score cheap political points today.
I have opposed spending bills in the past that were not as egregious as this $6 trillion plan, and if it came to the House floor for a vote today, I would vehemently oppose it.
Here are a few of the most concerning provisions:
- Raises taxes on working-class Americans by allowing President Trump's tax cuts to expire.
- Raises the corporate tax rate above that of Communist China.
- Continues the elevated Unemployment Insurance that is keeping workers on the sidelines.
- No increase in funding for border security at the height of a crisis.
- Abandons the Hyde Amendment, which means your tax dollars could be used to fund abortions.
- Includes provisions that catapult us closer to government-run health care.
- Earmarks at least $780 billion for Green New Deal initiatives.
- Redistributes wealth to people deemed by the Biden Administration as more deserving.
- Includes no pathway to balance the budget.
- Over the next decade, budget deficits would total $14.5 trillion.
We are already feeling the effects of inflation due to the massive amount of government spending in the last few months, and the President's budget will not help ease this burden. He needs to understand that inflation is really a hidden tax on working-class Americans and their families. The super-rich won't feel the effects of $3/gallon gas, but when people like the welder in Grafton, the police officer in Oshkosh, and manufacturing worker in Wautoma have to spend $50 each time they fill their tank because government spending has devalued the dollar, it takes a toll.
My colleagues and I on the House Oversight Committee are leading the effort to address this problem. We have attempted to start the conversation with the White House by sending a letter to Brian Deese, President Biden's National Economic Council Director, asking him for the President's plan to reduce this burden on working Americans. You can read the full letter by clicking here.