March 1, 2009
Posted: March 1st, 2009 11:34 AM ET
From CNN Ticker Producer Alexander Mooney
Reps. Price and DeFazio sparred over the president's budget Sunday.
(CNN) – Republican Rep. Tom Price slammed President Barack Obama's budget proposal Sunday, saying it carries too much debt and vastly increases the size of government. "The era of big government is clearly back," said Price, a Republican from Georgia. "I believe deficits are not acceptable in the level to which this president has put them on the table." Earlier this week the president unveiled a $3 trillion-plus budget that he says will halve the federal deficit by the end of his first term. Congress received a 140-page summary of the budget for fiscal year 2010 Thursday morning. The full details are expected in April. Earlier: Obama unveils budget blueprint But Price, the chair of the Republican Study Committee, a group that looks to advance the conservative agenda for a limited government, said the new budget carries too much debt. "The budget that he put out there is going to have the largest debt in the history of the nation over the ten-year period of time," Price said. "More debt in this budget than there has been in this nation from 1889 until today. That's not the kind of change that the American people are interested in." Based on the proposed budget, the administration projects the deficit for fiscal year 2009 will reach $1.75 trillion, or 12.3 percent of U.S. gross domestic product. That's a record in dollar terms and is the highest as a share of GDP since World War II. But Democratic Rep. Peter DeFazio, also appearing on State of The Union with John King, said the new budget puts the country on the road to fiscal responsibility after excess spending from the Bush Administration. "President Obama is putting us on a path to restore fiscal responsibility, but he is starting in a big hole," DeFazio said. "So I'm going to work with the president to tighten this budget wherever we can." Filed under: State of the Union
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