[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/03/20/art.getty.mccain.close.jpg caption="Sen. John McCain blasted President Obama's budget in a statement released Friday."](CNN) - Arizona Sen. John McCain had some harsh words for President Obama's budget, warning in a statement released Friday that the president's proposal is a "threat to the nation."
"The Congressional Budget Office report proves that the administration has indeed engaged in a policy of generational theft," said McCain. "The CBO numbers show the reality of the fundamentally flawed assumptions of the president's budget and make clear what it really is: a risky, debt-ridden threat to the nation."
The former Republican presidential candidate's statement follows CBO figures released Friday morning which estimate a deficit of $2.3 trillion higher than what the White House predicted last month. The CBO forecasts almost $1 trillion worth of red ink per year over the next decade, totaling an estimated $9.3 trillion.
"This staggering deficit threatens our children's and grandchildren's future and simply cannot be sustained," McCain continued. "If the administration had learned anything in the last week, I would have hoped that it was that the American people deserve an honest accounting of what they're paying for. The profligate spending spree the Congress and administration has been engaged in must be controlled. I call on my colleagues on both sides of the aisle to chart a different course toward real change and fiscal responsibility."