Sen. Cruz: 'We Should Be Balancing the Budget Right Now'

Ashlianna Kreiner | June 8, 2021 | 6:36pm EDT
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Sen. Ted Cruz (R-Texas).  (Getty Images)
Sen. Ted Cruz (R-Texas). (Getty Images)

(CNS News) -- When asked when Congress would balance the budget given that President Biden's budget plan racks up $14.5 trillion in deficits over the next 10 years, Sen. Ted Cruz (R-Texas) said we "should be balancing the budget right now" but "between Biden, Schumer, and Pelosi there is zero interest in balancing the budget."

At the Capitol on Tuesday, CNS News asked Senator Cruz, “President Biden has presented Congress with a budget that proposes running $14.5 trillion in deficits over the next decade.  When do you think Congress will balance the budget?”

The senator replied, “We should be balancing the budget right now. And I’ve been leading the fight for a balanced budget amendment, for reining in out-of-control spending, for structural reforms.”

“Unfortunately, between Biden, Schumer, and Pelosi there is zero interest in balancing the budget,” said Cruz. “And instead, they are proposing spending $7 trillion dollars just this year. It is one of the reasons why we are facing the beginnings of an inflation crises.”

“Because that much borrowed money, that much credit money, is the highest, the highest form of indebtedness since WWII,” he added. “I think it’s, it’s reckless and irresponsible.”

President Joe Biden (D).   (Getty Images)
President Joe Biden (D). (Getty Images)

The budget that President Biden proposed to Congress will run total deficits of $14.531 trillion between fiscal years 2022 and 2031.

As of June 7, the total debt of the federal government was $28,264,344,438,395.30, over $28 trillion.

As the New York Times has reported, "President Biden would like the federal government to spend $6 trillion in the 2022 fiscal year, and for total spending to rise to $8.2 trillion by 2031. That would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion through the next decade."

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