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Obama’s State of the Union Address Would Cost $40 Billion
For Immediate Release January 29, 2014
Douglas Kellogg, (703) 683-5700
(Alexandria, VA) – Barack Obama’s 2014 State of the Union Address was one of his longest so far, and the price tag for all those words would add $39.995 billion a year to the deficit, according to National Taxpayers Union Foundation’s (NTUF’s) 14th line-by-line cost analysis of the President’s speech.
“Even though the President largely reiterated or reframed issues that have long been on his party’s current agenda, the proposals for new federal expenditures he outlined last night would still add up to a hefty price tag,” said NTUF Director of Research Demian Brady. “Moreover, his push for new mandates, regulation, and tax hikes, particularly on energy, will give taxpayers and business owners plenty to be wary of.”
NTUF’s key findings on the President’s fiscal proposals:
Barack Obama’s speech last year was his most expensive at $83.4 billion – the record for any President remains Bill Clinton’s $327 billion State of the Union in 1999.
NTUF’s study calculates the cost of each item in the State of the Union Address in terms of its impact on federal outlays only.
Brady noted that although the NTUF study does not account for revenue impacts, the President’s call for heavier tax burdens, especially on the energy sector, would adversely affect taxpayers as well. “In coming weeks the White House will put a finer point on both its tax and spending plans with the release of the Fiscal Year 2015 budget,” he concluded. “How sharply this point will hit is on the minds of many taxpayers right now.”
National Taxpayers Union Foundation (NTUF) is the research arm of the 362,000-member National Taxpayers Union. More information on NTUF’s work is available at www.ntu.org/ntuf.