February 24, 2009

Crapo: Addressing Budget Starts With Debt

Urges talks on spending cuts, no tax increases

Washington, DC - Idaho Senator Mike Crapo said today he hopes that President Obama's address tonight to a joint session of Congress will begin a renewed emphasis on reducing the federal budget deficit by cutting back on spending and not raising taxes on anyone. Crapo, a member of the Senate Budget, Finance and Banking Committees, says recent increases in federal spending are unsustainable. He said the President and Congress must address the many mandatory spending programs which are on autopilot and are set to grow exponentially in the coming decade.

"We have relied far too heavily on spending and debt creation in hopes that we can revive the economy," Crapo said. "Small business creates 90 percent of the jobs in our economy, not the federal government. We need to increase incentives for business and rework our tax policy to encourage job creation and new investment in the American economy. The last thing we need during these difficult economic times is a tax increase.

"During the campaign, President Obama promised to review every single federal program, and to eliminate those that do not work. I am eager to review the President's proposals to reduce spending and to eliminate programs which do not efficiently and effectively spend taxpayer dollars. In the meantime, I look forward to hearing the President's remarks."