[Congressional Record Volume 169, Number 48 (Wednesday, March 15, 2023)]
[Senate]
[Pages S782-S783]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                                 Budget

  Mr. THUNE. Mr. President, inflation numbers for February came out 
yesterday morning, and they confirmed what every American knows: We are 
still squarely in the middle of Democrats' inflation crisis, with no 
end in sight.
  Overall, inflation was up 6 percent in February compared to a year 
ago and a staggering 15 percent since President Biden took office--15 
percent. Grocery prices were up 10.2 percent in February compared to a 
year ago and 20 percent since President Biden took office. Electricity 
prices were up 12.9 percent. Utility gas service was up 14.3 percent. 
Rent prices were up 8.8 percent. And the list goes on. Overall, energy 
prices have increased by 37.2 percent since President Biden took 
office--37.2 percent.
  Again, there is no end in sight to this crisis. Digging out of an 
inflation crisis like this isn't easy, but there are things we can and 
should be doing to help, like restraining government spending, 
unleashing American energy production to help drive down energy prices, 
and growing the economy. These are the things President Biden should be 
pursuing. But, as the President's budget last week made clear, the 
President hasn't learned anything from the last 2 years. President 
Biden and congressional Democrats helped create our current inflation 
crisis with their $1.9 trillion American Rescue Plan spending spree. 
And what does President Biden have planned in his budget? More reckless 
government spending--a lot more reckless government spending.
  Our last Federal budget before the pandemic was in 2019. That year, 
total Federal spending was $4.4 trillion. Over the last 3 years, COVID 
and then Democrats' profligate spending pushed up the size of the 
Federal budget to levels in excess of $6 trillion. So $4.4 trillion in 
2019 before the pandemic, $6 trillion at the conclusion of the 
pandemic, and two big reconciliation bills passed along party lines by 
Democrats. But the need for extra COVID dollars is long over.
  Given the economic havoc Democrats' reckless spending has created, 
you would think Democrats would be looking to return the budget to 
somewhere approaching pre-COVID levels,

[[Page S783]]

but you would be wrong. President Biden wants to take the inflated 
budgets of the past 3 years as his new baseline, and then the President 
is proposing $6.88 trillion in spending next year--a 54-percent 
increase over 2019 levels. And then--and then--he is proposing 
increased spending every year until the Federal budget reaches an eye-
popping $10 trillion in 2033--$10 trillion in 2033.
  Again, let me just remind people that the entire Federal budget in 
2019--just a few short years ago--was $4.4 trillion. President Biden 
wants to more than double that--$4.4 trillion to $10 trillion.
  This level of spending and the accompanying level of debt would 
present a serious danger to our financial stability going forward. The 
President's budget all but ensures that the size of our national debt 
would be larger than the size of our economy. In other words, we would 
owe more money than our entire economy produces. These levels of 
spending could easily prolong our inflation crisis for years to come.
  But the economic dangers of the President's budget don't end there. 
At the same time the President is essentially ensuring an unsustainable 
level of debt going forward, he is also planning to load up the economy 
with $4.7 trillion in tax hikes, and that is not counting some of the 
tax hikes that would result from allowing provisions of the Tax Cuts 
and Jobs Act to expire. He plans to undo much of the good work done by 
the 2017 Tax Cuts and Jobs Act, which helped grow our economy and 
improve opportunities for American workers.
  Under the Biden tax plan, American businesses would become less 
competitive in the global economy, investment would be discouraged, and 
Main Street job creators and family-owned businesses would face a 
higher tax burden, which would make it more difficult for them to grow, 
expand, and create jobs.
  I said earlier that one of the things we could do to ease our 
inflation crisis and drive down prices is increase American energy 
production. Well, President Biden's tax plan would discourage American 
energy production by hiking taxes on oil and gas companies, and not for 
the first time during his Presidency. Instead of lowering energy 
prices, the President's plan would likely drive them up even further 
with all the new taxes.
  The problems with the President's budget go on and on. While the 
President has no problem driving up spending to a staggering $10 
trillion per year by 2033, somehow very little of that money gets put 
toward priorities like securing the border and defending our Nation.
  For next year, the President is proposing an increase in defense 
spending that fails to keep pace with current levels of inflation, 
meaning that his supposed defense spending increase would actually be a 
defense spending cut.
  The Department of Homeland Security would see an outright spending 
cut next year. Despite the security and humanitarian crisis wreaking 
havoc at our southern border, the President is proposing barely any 
additional funding for U.S. Customs and Border Protection and 
Immigration and Customs Enforcement next year, but somehow--somehow--
the President managed to find a 15-percent increase in funding for the 
IRS. Think about that. That is from the 2023 enacted budget for the 
IRS, over and above the $80 billion funding increase the IRS got just 
last August. Think about that. Last August, the IRS got $80 billion and 
87,000 new employees. Yet, this year, under this President's budget, 
they are not only going to get all that funding and a massive influx of 
new employees but a 15-percent year-over-year increase in spending on 
the IRS at a time when defense spending is going to be 3.2 percent 
below the rate of inflation. You can't make it up.
  It doesn't stop there. The President's budget would also provide an 
additional $29 billion to the IRS to ``continue [Inflation Reduction 
Act]-funded enforcement and compliance initiatives.''
  I guess maybe what the President is thinking with respect to all of 
this is that he will need more IRS agents to administer all the new tax 
hikes that are included in his budget proposal. It is extremely 
disturbing that the President's tax-and-spend agenda is taking 
precedence over the national security imperative of securing our 
border.
  President Biden's budget is the wrong prescription for our country. 
It would shrink our economy, prolong our inflation crisis, and 
essentially guarantee unsustainable levels of debt.
  The American people had a rough couple of years under the Biden 
administration, and the President's budget would be almost guaranteed 
to prolong their economic pain well into the future. I hope Democrats, 
as well as Republicans, will recognize this and quickly consign the 
President's budget to where it belongs, and that is to the dustbin.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. KAINE. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  (The remarks of Mr. Kaine pertaining to the submission of S. 801 are 
printed in today's Record under ``Submitted Resolutions.'')
  Mr. KAINE. I yield the floor.
  The PRESIDING OFFICER (Mr. Hickenlooper). The Senator from Louisiana.
  Mr. KENNEDY. Mr. President, I ask unanimous consent to speak for up 
to 30 minutes prior to the scheduled rollcall vote. I do not think I 
will have an issue, but out of an abundance of caution, I ask unanimous 
consent for that, please.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  Mr. KENNEDY. Mr. President, I do appreciate Senator Kaine's remarks. 
He has highlighted a serious problem for many Americans. We don't 
completely understand it. I have every confidence in our medical 
community and our research and development community that we will 
figure it out, but in the meantime, there are a lot of Americans 
suffering, some silently, and I appreciate Senator Kaine highlighting 
this issue.