Republicans have “seized on today’s news that the budget deficit, per the Congressional Budget Office, will top $1.8 trillion this year and will reach nearly $1.4 trillion in 2010 — more than the Obama administration’s estimate,” First Read reports.
Said Sen. John McCain in a statement: “The Congressional Budget Office report proves that the Administration has indeed engaged in a policy of generational theft. 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."
Here’s Sen. John Thune: “These numbers are staggering and prove that spending in Washington is out of control. It is unconscionable to borrow this much money from China and force American families and small businesses to cover the cost through higher taxes."
Here is an excerpt of Senator Judd Gregg’s (R-NH) statement. He is Ranking Member on the Senate Budget Committee.
“Today’s analysis of the President’s FY 2010 budget by the Congressional Budget Office confirms that under the President’s plan, our debt will increase to shocking levels that are simply unsustainable and will devastate future economic opportunities for our children and grandchildren.”
(h/t – Senate Republicans Twitter page)