Senator Orrin Hatch Criticizes Presidential Leadership on 2012 Budget

Strategic Insights -

Senator Orrin Hatch, ranking Republican on the Finance Committee, expressed concern over the lack of presidential leadership on the 2012 budget, specifically focusing on entitlement programs and national debt. In a "Happening Now" interview with Jon Scott on Fox News Channel, Hatch emphasized the need for bold action to address the country's fiscal crisis. He stated that the current budget proposal by President Obama is "pathetic" and that the country cannot wait 10 years to address the issue.

Key Takeaways:

  • Senator Orrin Hatch stressed the importance of presidential leadership in addressing the country's fiscal crisis, particularly on entitlement programs and national debt.
  • The current budget proposal by President Obama is "pathetic" and all of the deficit reduction in his current budget is less than the projected deficit for this year.
  • The national debt has surpassed $14 trillion and is projected to reach $22 trillion by 2020, with interest payments accounting for $1 trillion alone.
  • Hatch emphasized the need for tough decisions now to secure a better future for children and grandchildren, as the country's profligate spending threatens to leave them with an unmanageable debt burden.
  • The Senator highlighted the lack of presidential action on the recommendations of the Simpson-Bowles commission, which had proposed numerous ideas for budget control, but were largely ignored by the administration.
  • Hatch expressed concern that without presidential leadership, the public will be stuck with "un-elected officials" making decisions on the country's fiscal future.

Statistics:

  • National debt: $14 trillion (estimated)
  • Projected national debt by 2020: $22 trillion
  • Interest payments on national debt: $1 trillion (projected for 2020)
  • Deficit reduction in President Obama's current budget: less than the projected deficit for this fiscal year

Sources:

  • Senator Orrin Hatch (R-UT), Ranking Member, Senate Finance Committee
  • Jon Scott, Host, Fox News Channel's "Happening Now"
  • Federal News Service, Inc. (transcript of interview on February 14, 2011)