Congressman Dennis Cardoza
18th Congressional District of California

WASHINGTON – Rep. Dennis Cardoza, D-Merced, responded with disappointment to the president's budget for fiscal year 2005, expressing deep concern over ballooning deficit spending and fiscally irresponsible policies.

"We are spending money we don’t have at unprecedented levels," Cardoza said. "The president’s budget fails to prepare our nation to deal with growing economic dangers – record deficits financed by foreign investors, large and growing trade deficits, and the approaching retirement of the baby boomers. If we don’t change course immediately, it’s going to take generations to dig us out of the hole we’re digging ourselves into now."

Cardoza, a member of the Blue Dog Coalition – a group of moderate to conservative Democrats with reputations for being fiscal hawks – was also alarmed by the president’s decision not to level with the American people about the tough fiscal road ahead.

"The president is not being sincere in his budget," Cardoza said. "There is no funding for operations in Iraq and Afghanistan, and the costs of making the tax cuts permanent are also not included. The reality is that we’re looking at a deficit of more than $600 billion for next year and a total national debt of $10 trillion by 2009. It is time to restore fiscal responsibility."

Cardoza, who has traveled throughout his district to make presentations about the nation’s fiscal crisis, is particularly concerned about the growing deficit because future generations will be forced to repay the record amounts of debt we are borrowing today. Deficits also hurt families by driving up interest rates for consumers and slowing economic growth. As the budget process moves forward, Cardoza will work with his colleagues in Congress to enact a fiscally responsible budget that meets our obligations, while reducing the size of our long-term debt.

"If we continue ignoring the long-term consequences of our budgetary actions, our children and grandchildren will be left to clean up the mess," said Cardoza. "I don’t want that to happen."