Thursday, March 26, 2009

Nebraska Congressman Lee Terry on the President's Budget

We can't spend our way to better times

For the last several months the government has spent taxpayer dollars at record levels. First was the trillion dollar "so-called" stimulus, then a pork-filled $410 billion spending bill to continue to fund the federal government for the next seven months. Now President Obama is proposing a massive $3 trillion budget. In the current fiscal year, the federal government would spend more than $4 trillion or 28.5% of the economy--that is the highest level since World War II.

Families are tightening their budgets and small businesses are cutting back. The federal government needs to do the same. If families and businesses are making sacrifices why isn't the government?

This spending proposal is SO large that some estimates indicate 250,000 bureaucrats may be needed to spend it all.

The recent spending is like an out of control car on an icy highway and we all know how that is likely to end. The runaway spending will continue to hurt our economy and it must stop. We can't spend our way to better times.