[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/03/21/art.barbour.jpg caption="Mississippi Gov. Haley Barbour says the president's budget will lead to more debt."]
(CNN) - Mississippi Gov. Haley Barbour blasted President Obama’s budget proposal, saying it taxes and spends too much.
In the weekly GOP address, Barbour said of the proposed budget: “It reminds me of how one of our old senators used to joke about the federal budget. He said it was like a newborn baby: insatiable appetite at one end and total irresponsibility at the other.”
Barbour said the new taxes won’t come close to covering Obama’s spending, meaning “children and grandchildren will be saddled with trillions more in debt.”
“In this budget season we have choices. While states are controlling spending and balancing their budgets, the Obama budget spends too much, taxes too much and borrows too much. It's not the right choice for America,” Barbour said.
Full text after the jump
“Hi, I'm Haley Barbour. It's budget time for a lot of states, and we governors, Republicans and Democrats alike, are working to balance our budgets.
“Though the stimulus package spends an incredible amount of money, with some of it going to state governments, the mandates about how we have to spend much of that money, plus the severe drop in most states' revenue, mean all governors are preparing a wide variety of significant spending cuts to balance our budgets.
“With the federal government it's just the opposite: President Obama's budget spends too much, taxes too much and borrows too much.
“It's breathtaking: The new Administration's budget for next year alone calls for a one point two TRILLION dollar deficit… nearly triple any past federal deficit.
“While families are cutting back, President Obama has proposed a massive government spending spree. It reminds me of how one of our old senators used to joke about the federal budget. He said it was like a newborn baby: insatiable appetite at one end and total irresponsibility at the other.
“This astronomical record federal deficit would be accompanied by the largest tax increases in history. But trillions of new taxes won't nearly cover all the new spending, so our children and grandchildren will be saddled with trillions more in debt.
“And this budget blowout comes on top of the debt for the $787 billion Obama stimulus package, the $410 billion omnibus appropriations bill passed by Congress this month, the $300 billion the Federal Reserve said this week it would spend to buy U.S. government bonds, and the $750 billion the Fed announced just Wednesday it would spend to buy mortgage-backed securities. Trillions and trillions in new spending mean record tax increases and record government debt.
“The cap and trade tax and other energy taxes will drive up both electricity and gasoline prices for families and for businesses. And while Wall Street gets trillions to bail them out, small businesses will get stuck with not only income tax increases but also enormous cost increases for energy: for electricity and gasoline. Families will get clobbered, too.
“Don't take my word for it; listen to what Barack Obama himself told The San Francisco Chronicle last year, and I quote: Under my plan of cap and trade, electricity rates would necessarily skyrocket.
“And President Obama was right. His energy taxes, like the cap and trade tax, will drive energy costs for American families through the roof.
“In this budget season we have choices. While states are controlling spending and balancing their budgets, the Obama budget spends too much, taxes too much and borrows too much. It's not the right choice for America.
Hey Mr Haley Barbour , its very simple. Higher taxes to the rich like you and the GOP bullies, can fix the deficit. Secondly , if you didn't know that, in 6 years time during Obama's second term which we know he will win hands up, bcs he needs time to clear the Bush, deficit and Wars, all the monies or funds the Federal Governments is giving to states now will become Grants. So they wouldn't need to pay it back? Take that money now,before they throw you out in the next elections.
In six years time bcs of rising inflation, the projects you fail to do now will cost your State double. Its therefore stupid to say that grand children will pay the debts, while in reality the people you refer to will have to pay twice or more for something that you could do today, that will save the old bridges, schools, and other major infrastructures.This includes creating Jobs and other current benefits to the banks and the communities.Did you study economics in school sir?
So spending over a trillion dollars on an illegal war in Iraq is the right thing to do with this countries future, as well as the lives lost to no other reason than the greed and avarice on the Republican side of the fence. We tried 8 years of Republicans at the helm and where did that get us? This is the man who spent recovery money intended to provide homes in Mississippi on building a casino that benefited his cronies, and not the people of Mississippi. So Barber has no leg to stand on when it comes to lecturing our current President on providing for this country.
I would suggest that all the big companies move out of the country is that what they want. we are the highest taxed country when it comes to companies and that is why they are moving out so they dont have to deal with this crap. we are going to punish companies who fix the problem and tax them… what the heck is wrong with you people do we really need more companies to let people go which will happen with this tax are not enough of us out of work or do we just want to live in the hope that the administration can change "yes we can" i got news for you not with this crew