March 19, 2015

Crapo: The Problem Is That Spending Is Too High, Not that Taxes are Too Low

Senator pushes for responsible budgeting, strong fiscal restraints at hearing to consider Senateâ??s budget blueprint

Washington, D.C. - We can no longer afford to delay making the tough decisions when it comes to reining in federal spending was the message Idaho Senator Mike Crapo delivered at a Senate Budget Committee hearing late yesterday afternoon.  Crapo, who sits on the Senate Budget Committee, will begin work with his colleagues this morning to markup the Senate's version of the budget blueprint for FY 2016 before it heads to the Senate Floor. 

"The biggest crisis our nation faces, and our nation is faced with many threats today, is the one that comes from within-our national debt," said Crapo during the hearing.  "The problem with our fiscal policy in America is that we spend more than we bring in, not that our taxes are too low.  The problem we have is that we will not recognize that tough decisions have to be made."

Crapo went on to further add that the interest payments on our over $18 trillion national debt are the fastest growing part of the federal budget, noting that, in just a few short years, these payments will exceed total defense spending.  

To view the Senator's full remarks on YouTube, click here