February 6th, 2010
10:16 AM ET
4 years ago

GOP takes aim at Obama's budget

(CNN) – In the weekly Republican radio and Web address, Rep. Jeb Hensarling of Texas takes President Obama to task over the size of his new budget proposal.

“The numbers in his budget are simply breathtaking: a record $3.8 trillion in spending, more than $2 trillion in new job crushing taxes, not to mention a tripling of the national debt – on top of the largest deficit in our nation’s history. Interest payments alone on this debt will set us back roughly $6 trillion over the next decade – that’s about $50,000 per household," Hensarling says in the address.

Full transcript after the jump

“Hi, I’m Congressman Jeb Hensarling of Texas; I serve as the number two Republican on the House Budget Committee. Some of you may have seen me on television last week when I had the opportunity to ask the President if his new budget would once again triple the national debt and dramatically increase the cost of government to 25% of the economy – up from its traditional 20%.

“You may recall that the President declined to answer the question last week. But he has certainly answered it this week by submitting a new budget that does just what I feared.

“The numbers in his budget are simply breathtaking: a record $3.8 trillion in spending, more than $2 trillion in new job crushing taxes, not to mention a tripling of the national debt – on top of the largest deficit in our nation’s history. Interest payments alone on this debt will set us back roughly $6 trillion over the next decade – that’s about $50,000 per household.

“Now, you’re probably like me and believe, in America, you ought to work hard today, so your children can have a better, more prosperous tomorrow. But with this budget, it is like Washington has said, ‘let’s let government live easier today, so our children have to work harder tomorrow.’

“You know, it was about this time last year, President Obama and Democrats in Congress promised that if we passed their trillion-dollar ‘stimulus’ bill – and grew big government even more – that jobs would be created ‘immediately.’ [and] they said unemployment would remain below eight percent.

“Well, Republicans stood on principle and offered a better alternative that, according to an analysis developed by the President’s own economic advisors, would have created twice the jobs at half the cost. But, Democrats chose to go it alone and jam through their ‘stimulus.’ What did the American people get? A bill for $1.2 trillion and 3 million more jobs lost.

“Americans are still asking, ‘where are the jobs? Where ARE the jobs?’ But all they are getting from Washington is more spending, more taxes, more debt and more bailouts.

“Now, when it comes to budget matters, I usually find myself agreeing with about 80% of what the President says, but I DISAGREE with 80% of what he does.

“While the President’s budget rhetoric gives a nod to reducing the deficit, he punts the problem to a ‘commission’ that does not yet exist, and whose recommendations may never see the light of day. We have to do better.

“Additionally, President Obama’s proposed spending freeze unfortunately is not really a freeze at all. It exempts 86% of the federal budget from the freezer, does not turn on the freezer until next year and then turns it off shortly thereafter. In fact, when you run the numbers, the President’s idea of fiscal responsibility unfortunately amounts to choosing to grow government by 49.01 percent over 10 years instead of 49.27 percent. We have got to do better.

“Serious fiscal responsibility requires more than just tinkering around the margins. Republicans have proposed adopting strict budget caps that limit federal spending on an annual basis and are enforceable by the President. These caps were a critical plank in the fiscally-responsible budget alternative Republicans proposed last year and yet they are notably absent from the President’s budget.

“The federal budget must never be allowed to grow faster than the family’s budget ability to pay for it. You can learn more about our better Republican budget solutions on the web at solutions.gop.gov.

“So, you pile up all this Democratic spending, all their borrowing and all their debt, you add it to their government takeover of health care, their ‘cap-and-trade’ national energy tax and their continued bailouts – is it little wonder that job growth is lagging in our economy? Small business owners and investors tell me every week, We’re not taking the risk to start or expand our business in this climate.

“We cannot continue on this reckless path, and the American people know it. But now it’s up to Democrats in Washington to listen and change course. We’re willing to work with them, but we will continue to stand on principle, we will oppose more reckless Washington spending, and we will fight for better solutions that make government live within its means. Our budget plan will help create jobs, prevent a fiscal calamity and give our children a brighter economic future.

“Thank you for listening.”


Filed under: GOP • President Obama
soundoff (129 Responses)
  1. Lost in Texas FOREVER

    and the GOP solution is..............?????

    February 6, 2010 11:05 am at 11:05 am |
  2. Mike, formerly from Syracuse

    No doubt the brainless Obamatrons will respond with whining about deficits under Bush. Yes, they were bad, but does that give Obozo a blank check to have an annual deficit triple that of the worst Bush deficit? Of course it doesn't, but that won't stop the tax and spend liberals from destroying us.

    February 6, 2010 11:05 am at 11:05 am |
  3. Robert Ruoff

    Thank You Congressman Jeb Hensarling.

    February 6, 2010 11:06 am at 11:06 am |
  4. kd

    yes, the numbers in the budget are breathtaking – and we have the GOP and Bush to blame for it.

    February 6, 2010 11:08 am at 11:08 am |
  5. Tim S.

    Republicans should have thought about this when they were voting for two unfunded wars, an unpaid for $250 B tax cut for the rich and a $450 B unfunded Medicare drug program. My dog has a longer memory than these folks. Quit saying "NO" and start governing.

    February 6, 2010 11:14 am at 11:14 am |
  6. Annie, Atlanta

    This is what happens when we're in a recession/depression. The only entity large enough to actually stimulate a depressed economy is our government. Republicans know this, so their faux outrage is a laughable. ( Maybe large tax breaks for companies that ship jobs overseas, as well as the wealthy, as well as throwing out regulation that kept economic meltdown in check hurt us. How soon they forget. How incredibly convenient for the party that revises history to suit their narrative.)

    And where was the outrage when Bush produced budgets for nearly 7 years without the wars first in Afghanistan and then the illegal war in Iraq included? It's ok if you're a Republican, right? No!

    February 6, 2010 11:16 am at 11:16 am |
  7. glen wyman

    they say that the previous administration was to blame. that is getting old. the figure that bush left 1.3 trillion is wrong because alot of the money was from tarp and once that money from tarp was paid back which it was,it was suppose to pay the debt "not be re-spent " . the obama administration spent it. and they continue to spent the most recent money from tarp. they are not listening to the american people, but they will in november when it is a little to late.

    February 6, 2010 11:16 am at 11:16 am |
  8. Rick in OP

    Uncontrolled federal spending is rapidly propelling the United States to a fiscal situation similar to where the country of Greece is right now. And not far behind Greece in dire financial condition is Portugal, Italy, Ireland and Spain. France and Belgium are also not doing well.

    The common thread among these countries are that they have been under the control of liberal/socialist governments who would not restrain their spending programs. Perhaps the Obama Administration and the Democrats in Congress should take a long hard look at Europe before they drive us furhter into debt.

    February 6, 2010 11:20 am at 11:20 am |
  9. John

    Let me guess: Republicans now say they're concerned about spending and debt.

    Right.

    February 6, 2010 11:25 am at 11:25 am |
  10. Tom Sawyer

    What a crock of B.S.

    Pres. Obama already destroyed all of the GOPs campaign talking points – and it's not even campaign season yet.

    Any sane economist will tell your the failed economic policies of the GOP are what caused this recession.

    And you can't fix a problem using the solutions that created it!

    All you gotta do is take ECON 101 to understand that during a recession, you need a stimulus plan (ie. spending plan) to keep the economy from collapsing.

    These GOP have been selling the American people a bag of B.S. because everything they says sounds good for re-election but makes things worst in reality.

    February 6, 2010 11:25 am at 11:25 am |
  11. Ed, Santa Fe, NM

    Another GOP moron.....

    What increases in taxes? There haven't been any.... Another GOP LIAR

    February 6, 2010 11:25 am at 11:25 am |
  12. Robert

    Oh Please!!! The republicans are the reason we are in this mess. They were handed a budget surplus in 2000 and what we are experiencing now is their doing.

    They have no room to lecture Obama.

    Where was their concern, their outrage and their contempt when George Bush was destroying this country economically (not to mention our image)?

    Hypocrits...

    Most of what he said was factually wrong as well....

    February 6, 2010 11:28 am at 11:28 am |
  13. Franky, Land of Lincoln

    I think that is a serious question about small biz. Is not like they don't wanna hire or take big chances, but the climate it is now, why are they gonna be bold and take opportunities if their efforts to do it have failed so far? Don't pressure someone to do a mans job unless the man knows how is working for him.

    I read a good opinion about how our Pres is doing the right thing, helping small business and pursue towards them, but should let the SMA(Small Business Administration) get in the action. That's a very good way to say it, a heck of a good way. I think our Pres might as well tell em to go start hiring just like he did to the big boys at Wall St...by the way, being a bully ain't gonna get you nowhere, especially if you haven't showed tendency and consistency.

    So I agree that our Pres should see was up with the SMA. Small business account for over 50% of innovation and we know now, innovation is not what they are doing. If giving them more money is gonna make them more innovative, the wasting more money is gonna make them more conservative in this environment. It just doesn't make sense, that's my opinion.

    But for real, he has to do something about the debt, or national debt. Is way too high and is unacceptable for our future generations.

    February 6, 2010 11:28 am at 11:28 am |
  14. Ronda Daniels

    I think he has a right to his opinion. What I am worrying about is , who will take this guy seriously. There are too many right wing nuts running around. There are probally too many left wing nuts around without barriers.

    February 6, 2010 11:31 am at 11:31 am |
  15. Mike

    I think it is high time that the politics of "we say, they say" is ended.

    There should be a neutral referee organization to fact check numbers and claims presented. In its absence Republican-leaning people will merely believe them, and Democrat-leaning people will merely believe them. In the absence of credible statements, Independents will merely believe that the entire apparatus is broken.

    Someone neutral must run and report annual statistics (budget surplus or deficit, trade deficit, unemployment percent, monthly jobs created or lost, and so forth) to demonstrate the continuity, or connectedness year after year, of the performance of our economy. In that way it will make it clear that the measures being taken now address a situation that was generated before.

    For example take monthly jobs created or lost: this shows that the highest number of monthly jobs lost occurred in January 2009. Ever since the trend has been a reduction in the jobs lost each month. At this time the jobs lost is a small number, and it signals a time coming very soon when jobs will be created.

    It takes a long time to turn around a complex system such as a national economy. The monthly jobs lost/created statistics over the last year show that the economy has indeed been trending in a favorable direction.

    February 6, 2010 11:32 am at 11:32 am |
  16. 8 Years with an inebriated driver behind the wheel and you want us to listen to the passengers that were drinking at the same bar???

    Now this is funny, a Red giving a lecture on something he knows NOTHING about, fiscal responsibility.

    Otherwise, there would not have been two wars funded "off the books" and a tax cut all at the same time.

    These cons were either drunk or passed out during Econ 101!

    February 6, 2010 11:33 am at 11:33 am |
  17. Lilarose in U.S. of China

    WHEN is the GOP going to become citizens of the United States and cooperate with ALL of us here in this country, not just with othe politicians?

    February 6, 2010 11:36 am at 11:36 am |
  18. Tony T

    He was right on with everything he said. STOP this president who through what some call lofty speeches (I see them as a guy telling us one thing to look good then doing the opposite) from spending us into third world status. Stick to your guns GOP and make OB balance the budget.

    February 6, 2010 11:41 am at 11:41 am |
  19. Jill-IN

    Why didn't the Bush admin put the 2 wars in the budget for the 7 years that they could? Where did all that cost go? did it evaporate into thin air? Why weren't we asking then? I'm just saying...

    February 6, 2010 11:43 am at 11:43 am |
  20. Hall for Obama

    "The numbers in his budget are simply breathtaking" This should have been breathtaking 2007, 2008 when Bush was in office. I hope you know Bush did not pay any of the spending he did while he was in the office he just gave you fat cats tax cut. Why don't you give back some of the money Bush gave you it would help a little.

    February 6, 2010 11:49 am at 11:49 am |
  21. Gary

    Bush's budgets were outrageous, now Obamas are even worse. Until one of the two parties get serious about cutting spending, the people will keep kicking them out of office. We should have a budget this year that cuts every program including Defense and Social Security by 3%....then raise everone's taxes by 3% (rich and poor!). What you will find it with that formula the economy will do just fine and the deficit will be 30% less than the current Obama proposal. Do this for 4 years in a row and we'll have a balance budget, a strong economy and President Obama would sail through re-election and go down in history as the most responsible President in history! Will he do that? Probably not. We need smaller, smarter government.

    February 6, 2010 11:50 am at 11:50 am |
  22. Carole

    Coming from the party that inherited a surplus; took us to two wars, gave the wealthiest 1% a tax cut and prescription drug plan that they never put in a budget!???? Puh LEEEEzzzzzzzz.

    I am tired of the LIES this party puts out that can be easily proven a lie. At least in the good ole days politicians were sneakier.

    REPUBLICAN PARTY BUDGET OF 2000-2009 = WHAT BUDGET?

    February 6, 2010 11:53 am at 11:53 am |
  23. I Stand with the President

    Its not surprising that once the RepliCONS is against the President. That will never change. They will keep disagreeing with him until november with the hopes off get the Majority back in both the Senate and the House. I just hope that the American people are paying close attention to what they have been doing from the start and give them a MAJOR disappointment in November. if not, it will be BUSH policies all over again.

    February 6, 2010 11:53 am at 11:53 am |
  24. usualone

    It is really easy to criticize, but where are their suggestions? They will blame the current administration for not listening. There are other ways to get their message out if they really have constructive solutions. Obviously, they don't.,,or the suggestions would be out there for the public to review.

    February 6, 2010 11:53 am at 11:53 am |
  25. Carol

    Most of us by now should realize that Limbaugh is missing a few cards from his deck. We should totally ignore him, and not waste our time mentioning his name in any format, as though he does not exist. Mentally, he does not exist.

    February 6, 2010 11:53 am at 11:53 am |
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