House Speaker John Boehner (R-Ohio), on Thursday, February 28, 2013, addressed the federal budget in his weekly briefing. He did so on the eve of automatic cuts, or sequestration, kicking in on Friday, March 1, 2013.
As Boehner points out, the National Debt is now at more than $16 trillion, roughly $52,000 for every person in the United States.
The Speaker argues that the federal government has a spending problem.
Boehner indicates that this year the federal government will bring in more revenue from taxpayers than in any other year in U.S. history.
He suggests that this fact demonstrates that the deficit is not because of insufficient taxation, but because spending is out of control, “threatening the American Dream.”
We don’t have a revenue problem, we have a spending problem; and it’s time to get serious about it.
Not opposed to closing tax loopholes, the Speaker argues that any enhanced tax revenues resulting from closed loopholes should fund a lowering of overall tax rates.
Boehner promotes the idea of tax cuts creating jobs and stimulating the economy.
He issues a challenge to President Barack Obama, and particularly the Senate, to step up and act, arguing that the House has already done its job and awaits the Senate doing the same.
On the subject of who was responsible for the sequester mechanism being set up, Boehner (agreeing with Bob Woodward) said it was indeed the President’s sequester, that it’s Obama’s team that insisted upon it.