Monday, May 07, 2007
Posted by: John Campbell at 5:02 PM

Tonight, there will be a procedural vote to move the Democrat's proposed budget one step closer to final passage. The bill has become infamous for laying the groundwork of the largest tax increase in American history. It's slated to cost the average taxpayer an additional $3,029 per year. Further, the economic impacts are projected to be severe as it will take $400 billion out of the private marketplace to feed the beast that is our government bureaucracy. And, in spite of renewed warnings concerning entitlement spending, their budget proposes no reform to save these programs.
 
This budget is simply bad policy. Spending is the problem with our government, not revenue. Since 2003, revenue to the federal government has increased by 46 percent or $432 billion, and yet we are still running deficits. The government does not need more money, it needs more discipline.




About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.

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