(Alexandria, VA) – In response to President Obama’s remarks at his press briefing today, the National Taxpayers Union’s Executive Vice President Pete Sepp issued the following statement:
"Once again the clock is ticking on Washington to get serious about spending reductions, and once again the White House's response is: delay the sequester and hike taxes even higher.
“Trading spending cuts for tax hikes has proven to be a losing bet for taxpayers. The President’s repeated calls for a “balanced” approach to reducing the deficit ignores the recent massive tax increases he championed – the income tax hike on small businesses and wealthier individuals, and the $1 trillion in tax increases included in his health care law. Congress should instead pursue a solution that relies on trimming wasteful programs -- including Pentagon spending -- as well as reforming tax and entitlement systems.
“Furthermore, the President's warnings of 'economically damaging effects of the sequester' and 'self-inflicted wounds coming out of Washington' ignore the harm our nation risks if politicians dither on spending control or resort to tax hikes. How would singling out job-creating industries like oil and gas for politically convenient tax increases help the economic recovery or the cause of across-the-the-board tax reform? How would failing to deal with long-term debt drivers like Social Security and Medicare help our future credit rating? How would propping up a bloated Pentagon with borrowed taxpayer dollars help our men and women in uniform, or start-up companies seeking capital for private ventures rather than more government contracts?
“President Obama and Congress have already delayed the sequester once as part of the fiscal cliff negotiations. While the White House suggests lawmakers need more time to create a broad deficit reduction package, the American people will see right through this ploy for what it is: a stalling tactic.
“There is still time to make an honest effort toward specific short-term expenditure reductions, and initiate a practical discussion on a longer-term tax and entitlement overhaul. Sequestration is not an ideal way to make budget policy, which is why Congress and the President must continue work on crafting a more responsible approach to reducing the deficit and balancing the federal budget. At the very least, however, they must keep their word and commit to the amount of spending restraint the sequester mechanism was supposed to guarantee, without burdening taxpayers even further."
The 362,000-member NTU is a nonpartisan, nonprofit organization working for lower taxes, smaller government, and economic freedom at all levels. More information on NTU’s work, is available at www.ntu.org.