The FY11 Budget Proposes Even Larger Deficits and Even More Spending than Last Year’s Record-Breaking Totals
WASHINGTON, D.C.—U.S. Chamber Executive Vice President for Government Affairs R. Bruce Josten issued the following statement on the President’s FY 2011 budget released yesterday:
“This budget, if enacted, will balloon the deficit, dramatically increase taxes in a weak economy, and undermine American job creation.
“The FY11 budget proposes even larger deficits and even more spending than last year’s record-breaking totals. Over the next ten years, the White House proposes to increase spending by 12 percent more as a share of the economy than it has averaged over the past three decades. Using its own numbers, the administration’s proposed budget deficits will cause debt as a share of the economy to increase by 13.6 percentage points.
“This budget is a surefire way to slow economic growth, increase unemployment, and make U.S. companies less competitive around the globe.
“The U.S. Chamber stands ready to support many of the job-creating proposals outlined in the State of the Union Address, including doubling exports in five years, expanding the use of nuclear power and offshore exploration for natural resources, implementing performance-based education reforms, improving worker training, and rebuilding our infrastructure. However, we cannot support a budget that will undermine the nation’s overriding priority—creating jobs.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. For information The U.S. Chamber of Commerce
 |
All comment postings require your name and email address for user verification only. Your email address will not be used or distributed for any other purpose.
No advertising is permitted and will result in the post being deleted and/or banning. Please click "REPORT" to report any inappropriate posts. blog comments powered by Disqus
Permission to Reproduce:
Unless otherwise stated, the copyright and similar rights to all material published on this website are owned by The Manufacturers Group Inc. DBA Manufacturing & Technology eJournal. Reproduction of any article in print, electronic or any other form must acknowledge Manufacturing & Technology eJournal as the Source and include a link to http://www.mfrtech.com
 |
