Blue Dog Leadership Statement on President Trump’s Budget
Today, the co-chairs of the fiscally-responsible, Democratic Blue Dog Coalition—Reps. Jim Costa (D-CA), Henry Cuellar (D-TX), and Daniel Lipinski (D-IL)—released the following statement on President Trump’s proposed budget:
“They say a budget reveals a person’s values. President Trump’s budget is based on incorrect, rosy economic growth assumptions and inaccurate accounting.
“Under a Republican-led House, Senate, and White House, we have seen no sign of fiscal discipline. Last year, the national debt surpassed $20 trillion for the first time in U.S. history. Under the new Republican tax law, our debt will grow by at least $1.5 trillion. Last year, our annual deficit was over $600 billion, and this year’s annual deficit is projected to reach $800 billion—both of which are too high. Under the budget deal that was signed into law last week, at least $320 billion will be added to our annual deficit. That means that under the leadership of the Republican Party—a party that campaigned on reining in our national debt—we will see at least a $1 trillion annual deficit within the next year. We have reached a point where fiscal conservatism is nowhere to be found in the Republican Party.
“President Trump’s budget doesn’t make significant progress to fix the fiscal problem. In fact, it worsens the problem by adding $4.5 trillion to the national debt.
“During the tax reform debate, the Blue Dogs advocated using tax reform as an opportunity to help fund the Highway Trust Fund, which on its current path will be exhausted by 2021. We hope our Republican colleagues approach the infrastructure debate in a truly bipartisan way so we can provide critical funding in a fiscally-responsible manner.
“The Blue Dogs have always called for a bold, bipartisan, balanced budget that addresses our nation’s out-of-control deficit spending. We have also advocated for a budget that ensures a strong national defense, makes smart investments needed to create jobs, and protects our most vulnerable Americans. Our approach has always been one of balance and responsibility that puts our country on the path to economic prosperity.
“Real solutions that create economic growth require a budget proposal with realistic growth assumptions and accurate accounting. Developing a budget that is right for America should not be done in a partisan way, and both parties should work together. That’s what the American people expect of us: to do our jobs and govern. We look forward to working with our Republican and Democratic colleagues to find a long-term, comprehensive solution that responsibly balances America’s budget and puts our country on a fiscally-sustainable path. Our children and grandchildren are depending on us to make the right decisions and get this done.”