WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) issued the following statement today after President Obama released his budget outline for Fiscal Year 2010:
“Today, President Obama released his budget for Fiscal Year 2010, and it clearly shows the commitment to responsibility that is becoming a hallmark of the Obama Administration.
“The budget begins with an honest assessment of where we are: We are running a record deficit, and our national debt has topped $10 trillion. Those high figures were largely brought on by years of reckless borrowing. President Obama makes no attempts to cover up the seriousness of our situation. His budget honestly accounts for costs that have been hidden for years: the cost of two wars, indexing the alternative minimum tax, and disaster relief.
“The budget is also a strong blueprint for getting our Nation out of its fiscal mess. It makes the hard choices necessary to save trillions of dollars and cut the deficit in half by 2012. President Obama has also called for reinstating the pay-as-you-go rule in law—committing our government to paying for what it buys. President Obama has led by example by spelling out how he would pay for his major initiatives, including his tax cuts for 95% of American workers and investments in healthcare reform and clean energy.
“Finally, the budget makes investments in long-term economic growth: access to affordable healthcare, which is essential to fiscal stability; investments in clean energy technologies and addressing climate change to bring down the cost of energy in the long run; and more access to both early and higher education, which are necessary for a prepared, competitive workforce.
“This is a serious document for serious times, one that no longer sacrifices long-term needs to the politics of the moment. I look forward to working with President Obama as we make the tough decisions necessary for economic and fiscal recovery.”