[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/03/28/art.gregg.jpg caption="Sen. Judd Gregg says Obama's budget is excessive."]
(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.”