McCarthy: The President's Budget Doesn't Balance

Apr 10, 2013

Washington D.C. – House Majority Whip Kevin McCarthy (CA-23) made the following statement regarding the unveiling of the President’s budget at this morning’s Leadership stakeout:

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TRANSCRIPT:

“Now that we’ll see the President’s budget, finally we will have a clear difference. One is a Republican one that passed the House and balances in ten years. The President’s does not balance. This is the challenge that we have. You know, nothing came stronger in showing that than yesterday. Yesterday I took a group freshman down to watch the selling of our debt. We do that every Monday and Tuesday and other times expand it out to other days. You walk into the room and you watch the billions of dollars being sold and you watch who is buying it. Interest rates happen to be low right now but just the increase in the interest rate itself can break us. But the addition day after day after day. This is the moment, the opportunity and truthfully, it is the fairness of the American people to put a path onto a balanced budget. I look forward to the day we don’t have to go to borrow in the aspect of where we are going.

 

“And as I took these freshman members around they looked into the glass and the minutes went but billions of dollars went out. You know what, how long are we borrowing? A simple month. We are going to have to come right back and do it again. That to me is the real challenge and the difference between these two budgets. This is an opportunity to come together with one simple goal – find a budget that will balance.”

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