(CNN) - Sen. Judd Gregg said the proposals in President Obama’s budget “represent an extraordinary move of our government to the left.”
“It is our opinion that this plan spends too much, taxes too much and borrows too much,” said Gregg, R-New Hampshire, in the weekly Republican address.
“The president to his credit is not trying to hide this; in fact he is very forthright in stating that he believes that by greatly expanding the spending, the taxing and the borrowing of our government, this will lead us to prosperity,” he said.
Gregg said he believes the way to run a sound government is by “working on limiting the growth of government” in a manner that is sustainable.
Gregg said he appreciates the president’s efforts but was concerned about where they would take the country.
“Our nation has an exceptional history of one generation passing on to the next generation a more prosperous and stronger country, but that tradition is being put at risk,” he said.
Obama chose Gregg as his pick for commerce secretary, after New Mexico Gov. Bill Richardson withdrew his nomination. Gregg later withdrew his name, citing "irresolvable conflicts" over the administration's stimulus bill and the upcoming 2010 census.
Full text of Republican address after the jump
Full transcript of Senator Gregg’s address:
“Hello, I’m Judd Gregg, Senator from New Hampshire. We all know these are difficult times. People are worried about keeping their jobs, paying their bills, the value of their homes and the cost of sending their kids to college. It’s hard.
“Thus I appreciate, as do all Americans, the efforts being made by our President and his seriousness about addressing these issues.
“But what concerns many of us are his proposals in the budget he recently sent to the Congress that dramatically grow the size and cost of government and move it to the left.
“It is our opinion that this plan spends too much, taxes too much and borrows too much.
“You may have heard this before that the budget of the President spends too much, taxes too much and borrows too much.
“What do we mean? Well, let me give you a few examples.
“In the next five years, President Obama’s budget will double the national debt; in the next ten years it will triple the national debt.
“To say this another way, if you take all the debt of our country run up by all of our presidents from George Washington through George W. Bush, the total debt over all those 200-plus years since we started as a nation, it is President Obama’s plan to double that debt in just the first five years that he is in office.
“He is also planning to spend more on the government as a percentage of our economy than at any time since World War II.
“His budget assumes the deficit will average $1 trillion dollars every year for the next 10 years and will add well over $9 trillion dollars in new debts to our children’s backs.
“He also is proposing the largest tax increase in history, much of it aimed at taxing small business people who have been, over the years, the best job creators in our economy. And further, he is proposing a massive new national sales tax on your electric bill. So that every time you turn on a light switch, in your house, you will be hit with a new tax - and it averages over $3,000 per household.
“These are staggering numbers and represent an extraordinary move of our government to the left.
“The President to his credit is not trying to hide this; in fact he is very forthright in stating that he believes that by greatly expanding the spending, the taxing and the borrowing of our government, this will lead us to prosperity.
“Here of course is where we differ. We believe you create prosperity by having an affordable government that pursues its responsibilities without excessive costs, taxes or debt. That it is the individual American who creates prosperity and good jobs, not the government.
“We believe that you create energy independence not by sticking Americans with a brand new national sales tax on everyone’s electric bill, but by expanding the production of American energy, such as environmentally sound off-shore drilling, nuclear power, wind, solar while also conserving more.
“We also believe you improve everyone’s health care not by nationalizing the health care system and putting the government between you and your doctor, but by assuring that every American has access to quality health insurance and choices in health care.
“We believe that you run a sound and affordable government not by running up the national debt to historic levels and unsustainable levels while over-taxing working Americans and spending as if there is no tomorrow, but rather by working on limiting the growth of government in a manner that is affordable not only today but for the next generation through limiting spending and addressing core issues like the cost of entitlements.
“Our nation has an exceptional history of one generation passing on to the next generation a more prosperous and stronger country, but that tradition is being put at risk. The dramatic move to the left and the massive increase in the size and cost of the government, proposed by the budget of President Obama, will lead to an immense national debt that not only threatens the value of the dollar and puts at risk our ability to borrow money to run the government. But it will also place our children at a huge disadvantage as they inherit this debt which will make their chances of success less than those given to us by our parents. It is not right for one generation to do that to another generation.
“Rather, we believe that if you properly steward the responsibilities of the government, if you do not spend too much, if you do not tax too much, if you do not borrow too much, we can leave our children a better nation where they will have even greater opportunity for prosperity, peace and freedom.
Thank you for taking the time to listen, and have a great weekend.”
This guy is an opportunist.
Wow, we sure dodged a bullet with guy. Thank goodness he isn't a cabinet officer.
Wow, these people just want the US to fall. They care so much about money that they ignore everything else. Good job destroying the country.
Go Obama. Good for him doing the right thing. Its been long in coming.
Senator Gregg, you could have done a lot better job in helping President Obama (and your country) in limiting the growth of government, if you had kept the job as Secretary of Commerce and worked from the inside out.
(And that is all I am going to say about that!)
You tell them, Senator Gregg!!. I am tired of the US playing Santa for every Tom Dick and Harry that the prwsident thinks we need to bail out. Tell him to use his own money he got from various shady places and see how he likes to be broke like we are going to ba and most likly all ready are. Has he no compassion for the country he is supposed to lead and protect? would he do his own family this way, give until it is all gone and then barrow from cou ntried who re toired of beine barrowed from and our worthless dollars.
This coming from the same clown who didn't discover that he was a highly partisan Republican until he was nominated for the cabinet. So much for trying to reach across the aisle. It's time to push through a progessive agenda and leave the ludites and naysayers in the dust.
opportunity knocks for Senator Gregg – but don't let him in – just another lizard amongst all the other dinosaurs. Our children are in trouble now – we will deal with the future when it gets here – sacrifice those in the system now and who really knows what the future will bring??
Your country was going to have a huge national debt for the next several years anyway thanks to the last administration's policies and the Iraq War. This debt legacy escalated during the Bush years and now President Obama has no choice but to spend some capital smartly to try and solve the mess he was left. At least he is spending money in your own country on projects that will help the American people. The outrage the Republicans are showing because of this national debt is so hypocritical because they ran it up during their years in office and they have no concret plans to really help the situation.
The party of NO, we had 8 years of bush, you now found your voice, we will see you on election day. continue to sound like Sara you know who.
Of course he did! The Presidents budget had numbers in it, not like the GOP piece of garbage. The Republican Road to Recovery, give me a break its like their Contract with America. Where were these guys when Bush was hiding the cost of his Stupid War in Iraq?
If only Gregg had not been caught earmarking 66 million dollars for a Air Force base redevelopment he and his brother were running he would not have had to withdraw his nomination.
Well...he is right. Even bi-partisan groups who have analyzed it have called it a roadmap to insurmountable debt. But, no worries....just print more money. Isn't that how it works?
I just love how quickly the GOP wants everyone to forget that they were the ones who let the economy crash to begin with. No one is stupid enough to expect that Obama can clean up the mess they spent 8 years making overnight. It's like if a starting pitcher in a ball game gave up 10 runs and then tried to blame the loss on a reliever who came in and gave up 1.
I agree. Obama actually believes in his Keynesian economists to expand government spending to expand the economy. But this Keynes is not a guru. His theory is long past time and will not work. Economists don't know anything, only to theorize to death to the detriment of the people.
Wow... he doesnt want to be a part of the solution, he just wants to be a part of the problem.
I don't agree with the Budget either, but this guy has NO room to talk. He had his chance to be a part of things and fight for what he believes in. Instead he chose to sit on the sidelines and complain.
I have zero respect for this guy.
where was this guy when BUSH was running this country into the ground.
I agree with the comments by Sally and Justin from New Haven, CT – he was not up to the job of a cabinet appointee so all he has left is to critize the President.
Gregg should have been the author of the "Republicans' Blue Coloring Book of Budget Ideas." They need his fiscal expertise more than President Obama needs his criticism. He is just another member of the "Cult of Criticism," who will soon find that his credibility has eroded. I pray for, and support President Obama. Those who voted for him should be doing the same. Tough times call for tough measures. None of the talking heads have a solution to this crisis. They should ALL man-up. admit it, and be quiet.
Gosh Sen. Gregg...it's truly a shame that the Republican party doesn't practice what it preaches. Remember when W said he would cut the defecit in half then doubled it? I didn't hear one word from you complaining. If I, as an individual, came home and told my family that I have this wonderful new financial plan; first I'm going to go to work tomorrow and ask my boss for a pay cut ...that's what tax cuts represent. Then we will max all of our credit cards spending on things we may or may not need....then apply for more cards and max them too. Then when me and my family are broke I throw up my hands and say it's someone elses problem and I am no longer responsible. Sound familiar? Name me one financial advisor or expert that thinks that that is a wonderful idea!!
the governments shifting to the left? gee, thanks for the newsflash senator. now please step aside while we clean up the mess your party left.
this relic of the republican past should stop paying honor to himself.
More like, too bad we don't have more people in government like Judd Gregg. Public records show us with a public debt currently of just over $11 trillion.
The finance charges or interest, we pay on that debt is over $400 billion a year. Think about that. It costs us money all to borrow money. Hopefully we elect the people who are looking out for us.
If I run up the debt on my credit card, my bank will raise my rates and stop lending me money altogether. If Congress continues to runs up the debt, what do you think lenders (like China) will do?
Gee, lighten up. It's just China's money. When they come looking for it, our half-a-million soldiers will surely whip their half-a-billion soldiers.
Senator Gregg, you never would have lasted in this administration. YOU'RE TOO HONEST!! ;-)
Stop the frivolous spending now! BOTH PARTIES... Be responsible! People shouldn't spend money they don't have and neither should the government. Even as a democrat, I think Obama wants too much socialization and it will send us (the US) into bankruptcy. China and several other countries have already expressed that concern. And I voted for Obama to fix problems, not for this continued 24/7 campaigning or to just keep blaming the past for every issue. If he goes to the G20 meeting and starts talking about all his "inherited" issues, they are going to think he is an idiot. Inherited or not, he is the president now and they are his issues now. Get over it and fix it!!!