Congressman Yakym Statement on President Biden’s Budget Release

“President Biden likes to say ‘budgets are statements of values,’ and the budget proposal he released today shows he values higher taxes, more spending, less freedom, and even bigger government. Unfortunately, what it doesn’t do is address the unsustainable fiscal situation we are in and the looming debt crisis the next generation will inherit unless we change course soon. 

“With our national debt now larger than the size of America’s entire economy, the time to take Washington DC’s wasteful spending addiction seriously was yesterday. 

“As a member of the House Budget Committee, I will work with members of both parties on common sense, responsible solutions to restore fiscal responsibility so we can stave off this crisis, lower inflation for Hoosiers, and ensure all Americans can have a bright and prosperous future.” 

Background:

• A recent CBO report found that paying just the net interest of our national debt will cost taxpayers $10.5 trillion over the next decade. For comparison, the net interest cost over the previous ten years was $3.05 trillion.