McConnell: Obama Budget Will ‘Double Debt in 5 Years’
EmailSenate Minority Leader Mitch McConnell, R-Ky., said the Republican Party doesn’t intend to offer a comprehensive alternative budget in the Senate. Instead, McConnell said, the GOP will offer numerous amendments to the administration’s budget plan.
"First let’s take a look at the budget the president is offering," McConnell said on "This Week" Sunday, "that’s his responsibility. The majority has a responsibility to lay out their plan, George, for the next few years and they’ve done it. It will double the national debt in five years and triple the national debt in ten years."
McConnell repeated what has become a familiar GOP refrain on the president’s budget: "It taxes too much, it spends too much, it borrows too much — what I have said and what my colleagues have said repeatedly."
"It does what the president’s chief of staff , he was pretty candid about it — they’re taking advantage of a crisis in order to do things that have nothing to do with getting us into the crisis in the first place," he said. "They want to have a massive expansion of health care, a[n] energy tax which many people are now calling a ‘light switch tax’ of another $600-billion dollars. It’s sort of bait and switch."
The Obama administration has maintained that revenue from a "cap-and-trade" plan would offset higher energy costs for many Americans.
But McConnell argued the government should be concentrating on fixing the financial system and the housing problem, "but not using this crisis as an excuse to go on an explosion of spending."
I asked McConnell why the GOP isn’t going to offer a comprehensive alternative budget of their own.
"Well we’re just sort of getting down in the weeds here on procedure. Through the amendment process we would absolutely reformulate the Democratic plan. Whether you have a comprehensive approach or whether you offer an amendment approach is something that parliamentarians can debate. But the point is, we’re going to have alternatives," McConnell said. "We have offered alternatives all along the way and we will offer numerous alternatives on the budget when it comes up."
–George Stephanopoulos
Sen. DeMint: GOP Race Could Go Until Convention 
Obama Avoids Questions on Contraception Rule
This just in from Meet the Press, OBAMA, will NOT rule out taxing health benefits, as we know he campaigned against Mccain for suggesting such a tax and the I hate America media followed O-dumb-ahs lead lmao
What a friggin liar O-dumb-ah is.
Hey Georgie what did Rahm have to say this morning?
Posted by: Obama-LIVE FROM THE WAFFLE HOUSE | March 15, 2009, 10:44 am 10:44 am
Posted by: Obama-LIVE FROM THE WAFFLE HOUSE | Mar 15, 2009 10:44:43 AM
Obama did not say that. It was an aide. Who can believe the NY Times?
WASHINGTON – One of President Barack Obama’s leading economic advisers says the White House is opposed to taxing health insurance. But Christina Romer is not ruling it out.
She heads the Council of Economic Advisers and says the administration would not rule out taxing health benefits. The New York Times reported Sunday that the administration is considering such a move.
As a candidate, Obama opposed such taxes and called them “a multi-trillion dollar tax hike.” Romer says the president remains opposed. But when she was pushed on its during a talk show appearance, she said nothing was being taken off the table.
Romer appeared on NBC’s “Meet the Press.”
Posted by: Jwench | March 15, 2009, 10:58 am 10:58 am
McConnell is just another “old white man” who is great at criticizing and has no suggetions on how to fix the problem. Then Shelby is just plain stupid. AIG bonuses are outrageous and is a prime example that GREED is still alive and well in America. When I worked for an insurance company, they had no problem telling their employees no. This goes back to Paulson who was and has been in bed with these guys and did not monitor spending.
Posted by: Mary | March 15, 2009, 11:08 am 11:08 am
It should come as no surprise that the republicans and democrats work together to bring America more in line with the more “progressive” European nations. Some examples are regulatory hell, no fiscal freedom, no personal freedom, low wages, high cost of living, no guns, etc. I wish more people could see that there’s really only about a dimes worth of difference between these two parties.
Posted by: USAForNow | March 15, 2009, 11:23 am 11:23 am
At some point, people will stop buying federal bonds as their risk-to-payoff ratio increases sharply, and Obama will either print more money to continue paying for his programs (which would drop bond-values even more sharply, to the point of net-loss), or he’ll have to cancel everything that he started.
By 2013, the debt will surpass our GDP.
Posted by: jol | March 15, 2009, 11:24 am 11:24 am
I’m so tired of the Republican Party and Politics as usual. Admittedly I have not voted Republican as many times as I have voted Democratic, but at this point I am so tired of the party of complainers that got us into this mess and now criticize our President at every attempt he makes to resolve all these issues. If you have a plan, then why wasn’t this plan implemented years ago before this house of cards you built started falling apart.
Posted by: Sharonkathleen | March 15, 2009, 11:25 am 11:25 am
” We will offer up numerous alternative amendments when the lobbyists tell us what to do.” the real Mitch McConnell
Posted by: doug | March 15, 2009, 11:29 am 11:29 am
HOW CAN THE SENATOR KEEP A STRAIGHT FACE WHEN HE KNOWS THE PRESIDENT INHERITED THIS MESS I AM NO FOOL AND NEITHER ARE THE AMERICAN PEOPLE. THE MAN IS DOING THE BEST WITH THIS MESS.
Posted by: betty goswami | March 15, 2009, 11:33 am 11:33 am
HOW CAN THE SENATOR KEEP A STRAIGHT FACE WHEN HE KNOWS THE PRESIDENT INHERITED THIS MESS I AM NO FOOL AND NEITHER ARE THE AMERICAN PEOPLE. THE MAN IS DOING THE BEST WITH THIS MESS.
Posted by: betty goswami | Mar 15, 2009 11:33:05 AM
According to Cheyney he didn’t…lol. Cheyney still cant’ tell the truth! I am confident Obama is doing the right thing.
Posted by: Jwench | March 15, 2009, 11:40 am 11:40 am
WASHINGTON – Don’t blame the Bush administration for all the country’s economic problems.
That’s the message from former Vice President D Cheney.
President Barack Obama constantly talks about the enormous economic troubles that he inherited when he took office in January. Cheney agrees that Obama did indeed came into power amid very difficult economic circumstances.
But Cheney says he doesn’t think the Bush administration can be blamed for creating the economic woes. Cheney says it’s a global financial problem. He says the idea that fault can assigned to the previous administration is “interesting rhetoric” but he doesn’t think people care about that.
Cheney spoke on CNN’s “State of the Union.”
Oh no they had nothing to do with this meltdown. What a lying sack of….
Posted by: Jwench | March 15, 2009, 11:46 am 11:46 am
George, you are a liar and an Obama sychophant.
DO SOMETHING ABOUT THIS TAPPER.
Obama Administration Lie of the Day:
Summers, just now with George “I create Dem strategy every morning with Rahm/Carville/Begala” Stephanopolis, said that Obama inherited a trillion dollar deficit as created by a Republican President and a Republican Congress….
Apparently Larry didnt notice the Dems winning Congress in 2006.
Sickening lie, repeated enough, will become truth in the public’s mind.
Now George is attacking McConnell with vigor, right after kissing Summers’ ring for 20 minutes and failing to rebut Summers’ LIE that the GOP controlled CONGRESS AND THE PRESIDENCY IN 2008. If George can’t bring himself to correct outright factual lies by Obama’s advisors on his show, he should be removed.
Sickening to allow George to create talking points for Obama with Rahm and then cross examine the GOP about those talking points.
Posted by: Anti-Harkonnen Freedom Fighter | March 15, 2009, 11:59 am 11:59 am
George, you are a liar and an Obama sychophant.
DO SOMETHING ABOUT THIS TAPPER.
Obama Administration Lie of the Day:
Summers, just now with George “I create Dem strategy every morning with Rahm/Carville/Begala” Stephanopolis, said that Obama inherited a trillion dollar deficit as created by a Republican President and a Republican Congress….
Apparently Larry didnt notice the Dems winning Congress in 2006.
Sickening lie, repeated enough, will become truth in the public’s mind.
Now George is attacking McConnell with vigor, right after kissing Summers’ ring for 20 minutes and failing to rebut Summers’ LIE that the GOP controlled CONGRESS AND THE PRESIDENCY IN 2008. If George can’t bring himself to correct outright factual lies by Obama’s advisors on his show, he should be removed.
Sickening to allow George to create talking points for Obama with Rahm and then cross examine the GOP about those talking points.
Here is the quote and Georgie boy’s failure to correct Summers LIE:
SUMMERS: We’d love to see Senator McConnell’s concrete
alternatives that gets closer to a balanced budget. The situation the
president inherited of nearly $1 trillion deficits, before he did
anything, came at a time — came at a time when it was a Republican
president and a Republican Congress that were making the decisions.
……..
STEPHANOPOULOS: OK, Larry Summers, thanks very much for your
time this morning.
SUMMERS: Thank you.
Posted by: Anti-Harkonnen Freedom Fighter | March 15, 2009, 12:06 pm 12:06 pm
How about taking Jon Stewart’s advice and doing some fact-checking on what politicians say. Will Obama’s budget really double the debt in five years? At least you called him out on not offering any alternative.
Posted by: H | March 15, 2009, 12:09 pm 12:09 pm
Great … Republicans are able to do simple arithmetic. Now we know.
Surely they would *never* let the budget situation deteriorate on their watch huh? Like, say, inheriting a budget surplus and a booming economy and leaving a galloping deficit and a depression? Unthinkable!
Good to know that we can always count on Republicans. If not on their ability to do basic arithmetic then on their honesty and willingness to own up to their own little spending peccadillos. Right?
Call me a Liberal, but I’d rather spend money on trying to rebuild our infrastructure and kickstart our economy again than on going to war in the Middle East.
Posted by: Golodh | March 15, 2009, 12:13 pm 12:13 pm
H,
That is what people need to start doing and they will find what some of the GOP dolts are saying is just not true. Yes, there are democrats that fall under that as well. Don’t listen to these people who claim to know all, do your own research and you will find out that not all of what you are told or read is the truth. Rush Limbaugh is a fine example of spreading mistruths, but there are people stupid enough to listen to this maniac and take what he says as the truth.
Posted by: Jwench | March 15, 2009, 12:26 pm 12:26 pm
Well, it appears ABC NEWS is deleting any reference to the quote from Summers as soon as it is posted. Typical sychophantic response to being caught in a lie. You think it okay to trick the American people into believing that the Dems had nothing to do with the deficits of 07, 08 and 09 when indeed they were in charge of Congress, as the Obama Administration’s point man wants to trick the public into believing?
That’s change we can believe in? Straight lies via propaganda delivered by ABC News to millions?
Seriously?
Here is the quote and Georgie boy’s failure to correct Summers LIE:
SUMMERS: We’d love to see Senator McConnell’s concrete
alternatives that gets closer to a balanced budget. The situation the
president inherited of nearly $1 trillion deficits, before he did
anything, came at a time — came at a time when it was a Republican
president and a Republican Congress that were making the decisions.
……..
STEPHANOPOULOS: OK, Larry Summers, thanks very much for your
time this morning.
SUMMERS: Thank you.
Posted by: Anti-Harkonnen Freedom Fighter | March 15, 2009, 12:28 pm 12:28 pm
Cleaning up any mess is always costly, Obama has inherited not a mess but rather a cess pool. Reversing america’s fortune is going to come at a cost. The other option is to loose its status as the most powerful democracy in the world. The democratic world and america has difficult choices to make and doubling the debt in the next 5 years is going to be one of the long-term cost that americans will pay for having Republicans and special interests running the administration for the last decade.
Posted by: Pushkar Bhat | March 15, 2009, 12:43 pm 12:43 pm
Given Mr. Summers understanding of economics and the workings of government he should have been able to provide an understandable explanation to every question asked. Instead he fumbled through the entire 15 minute interview. Dithering Senator McConnell was totally unprepared to answer any questions. The outstanding question being where is the Republican budget plan was answered with the idea that they did not have a plan but wanted to offer the GOP will offer numerous amendments to the administration’s budget plan. The followup round table discussion provided litle in the way of insights or ideas on where the government should go on any of the topics discussed. The Walter Cronkite award may be going to your heads. Wehre is the next Tim Russert?
Posted by: Don Evans | March 15, 2009, 1:36 pm 1:36 pm
When they were in power, the Republicans created this mess. They spent like drunken sailors. They did away with banking regulations. They enlarged government. All they care about now is getting back their power. They want the economic stimulus to fail just to enhance their chances next election. They don’t care one iota about the average citizen, or even what happens to our country. They deserve to become extinct as a Party.
Posted by: asterisque | March 15, 2009, 1:55 pm 1:55 pm
Anti-Harkonnen Freedom Fighter:
George, you are a liar and an Obama sychophant.
DO SOMETHING ABOUT THIS TAPPER.
Obama Administration Lie of the Day:
Summers, just now with George “I create Dem strategy every morning with Rahm/Carville/Begala” Stephanopolis, said that Obama inherited a trillion dollar deficit as created by a Republican President and a Republican Congress….
Apparently Larry didnt notice the Dems winning Congress in 2006.
**************************
Anti-Harkonnen, read your history, the democrats
gained seats in both houses BECAUSE, the American
people were sickened with the arrogance and deceitful lies that the Republican administration were orchestrating (remember WMD). In 2006 the
Republicans still had the influence, if they had any common sense, but with no credibility they lost even more in 2008.Great job guys!
Posted by: spacerook1 | March 15, 2009, 2:24 pm 2:24 pm
The Republicans are just upset because it only took them 3 years to double the debt. Now that Obama is doing it in 5, they hold the record.
Posted by: Eric | March 15, 2009, 2:27 pm 2:27 pm
Spaceyrook:
Uh, the Dems were in control in 07, 08 and now in Congress. The trillion dollar deficit Larry the Summers is referring to is for fiscal 2009, the first ever trillion dollar deficit.
Look at the quote again, lefty. Did Summers lie? Answer the question honestly.
SUMMERS: We’d love to see Senator McConnell’s concrete
alternatives that gets closer to a balanced budget. The situation the
president inherited of nearly $1 trillion deficits, before he did
anything, came at a time — came at a time when it was a Republican
president and a Republican Congress that were making the decisions.
……..
STEPHANOPOULOS: OK, Larry Summers, thanks very much for your
time this morning.
SUMMERS: Thank you.
Posted by: Anti-Harkonnen Freedom Fighter | March 15, 2009, 2:38 pm 2:38 pm
The deficit went to a trillion in fiscal 09 under Democratic Congress, bub. Bush refused to sign the appropriations bills because of the pork and so Obama did just now.
the stimulus added about 300 billion to the fiscal 09 deficit, the tarp added about 250 billion to fiscal 09 deficit. and now, the 09 appropriatiosn bill adds another 30 billon or so in extra spending over 08 levels.
Posted by: Anti-Harkonnen Freedom Fighter | March 15, 2009, 2:47 pm 2:47 pm
I was born and raised Republican. I went throught the Military, Republican.
I voted for Raegan the first time. I saw how the value of my money dropped.
I was now an Independent.
After Totolitarian Ruler Bush and His henchmen robbed my Social Security, after 2 years of saying, “We want to save Social Security. Don’t you want to save Social Security.’ Social Security is not the Goverments money. It’s my money and your money. THE REPUBLICAN PARTY(SPELLED RAPE PUBLIC AN PARTY) HAS NO RIGHTS TO USE IT FOR TAX CUTS FOR THE RICH. THEY HAVE NO RIGHT TO GIVE AWAY MY MEDICARE AND MEDICAID MONEY TO THE DRUG COMPANIES, SO THEY CAN RAPE THE PEOPLE OF THE UNITED STATES WITH EXTRAVIGANT PRICES.
I hope President Obama taxes the rich a minimum of 10% regaurdless of deductions, and puts it back into Social Security, Medicare and Medicaid.
I hope President Obama taxes the Drug companies for windfall profits.
As far as AIG. I would tell them straight out that the Employees are expected to take wage cuts. If they hand out those bonuses, they will not recieve another cent.
Skip
Posted by: X-Republican | March 15, 2009, 3:56 pm 3:56 pm
It is so clear that President Obama is pointing this country into total insolvency that it breaks my heart.
I can live with the bailout measure that were “unusual” and needed to fix a dire situation. But now the President is trying to totally change everything at once in this country – and it will cost a fortune to even start.
Sorry, I voted for this man – but I see no coherent plan here – just a lot of confidence, hubris, and lots and lots of bills.
Why can’t the President be just a “regular” President like everyone else? Certainly why not to start that way? He seems hell-bent on making himself an icon in American history.
Well, those things happen after years and years of wise and hard work. It is not good sense to turn this country upside down while it is in the middle of a total financial meltdown. The rules is … start at square one … go to square two … then to square three…. This is where his lack of experience is starting to really take its toll.
He is not going to change Washington overnight – certainly not by alienating all of congress as well. His budget is outrageous! When I first saw his proposals – I regretted the day I voted for the man.
This country needs a bit of stability – not overzealous change with no one balancing the checkbook.
Posted by: Jon F | March 15, 2009, 4:28 pm 4:28 pm
The Republicans are the most evil, non caring bunch of thugs I’ve ever seen. They don’t want a middle class. They want the rich and their slaves. Which one are you going to be?
What they’ve done is treason. Every one of them should be put on trial, found quillty and then shot.
Posted by: X-Republican | March 15, 2009, 5:58 pm 5:58 pm
Every time a Republican opens their mouth and the word economy is mentioned, they are talking above their heads.
Posted by: Larry | March 15, 2009, 9:05 pm 9:05 pm
One of the byproducts of our collective psyche, as a direct result of the “economy” we have surrounded ourselves with recently is that of immediate results.We go out and expect/demand it at almost every turn. And as a result, we have all come to expect immediate fulfillment of any corrective measures we take.It took literally dozens of years to incrementally get us to the place we are at today. To expect immediate results is somewhat like repeating the same function and expecting different results – insanity.Give Mr Obama his administration, policies, progams time to work. Again, we did this collectively and over many years, it will take some time to correct.
Posted by: Darryl the Contractor | March 15, 2009, 9:36 pm 9:36 pm
Mitch Mcconnell is governor of one of the poorest states in the union. Wasn’t it eastern kentucky where the children are without dental care and food to eat that was reported on 20/20 last month. I think he needs to sweep around his own front door before he tries to clean up around Obama’s.
Posted by: 4honeybee | March 15, 2009, 10:07 pm 10:07 pm
Gorgie, porgie go away
Posted by: GHM | March 15, 2009, 10:08 pm 10:08 pm
We need to require every high school student and college student to pass basic accounting and economics classes and exit exams to obtain HS diplomas and college bachelor’s degrees. We also need to educate our people about capitalism and how it works. Our basic economic system isn’t understood by the vast majority of Americans and therein is the problem today: ignorance of the people as to exactly what is going on in Washington and our state capitals. Baby Boomers were allowed to be excessive and were always self-indulged. Their children, the Gen X’ers don’t have a clue about capitalism and how it works. Gen Y is even more clueless. This is not good. I am going to submit to everyone on this blog that all of America’s problems stem from a failure of its citizens to understand how to legally and ethically survive and thrive financially in a capitalist society. Instead of hiring professional psychologists with Ivy League degrees to run our educational systems, we need to hire successful business people with ethics to ensure that our generations are schooled in how America conducts its business. To hell with the hippie BS and social initiatives of the 60′s, 70′s and beyond. Racism is first and last an economic issue in which the have not have too little and the haves and have too much. Socialism isn’t the answer to redistributing the wealth to equalize the welath distribution. The answer is teaching the have nots how to become successful business owners and entrepeneurs.
Posted by: Rob | March 16, 2009, 1:00 am 1:00 am
Just so everyone is clear…This entire mess is a bi-partisan issue that’s been years in the making all the way back to the Carter administration. These bonuses are part of contractual agreements and must be paid out by law, not paying them would be illegal. Remember, these payments & repeated bailouts are all happening under Obama’s watch. This is his show now. And the Reps have given numerous suggestions on how to modify various Democrat created spending bills. He and his cohorts have roundly rejected all of them. Like Rahm said “Never let a good crisis go to waste” Hitler came to power in much the same way…it’s sad really.
Posted by: WHOAH | March 16, 2009, 1:36 am 1:36 am
Is it me or does obama seem absolutely clueless about the economy. He wants to implement all these new and exciting Democrat dreamlist entitlements when the country is coming apart at the seams. He just seems immature and naive. And don’t start yapping about how Bush did it. Bush turned a potential deep recession into a boom after 9/11.
Posted by: Brandy | March 16, 2009, 2:05 am 2:05 am
- Senate Minority Leader Mitch McConnell, R-Ky., said the Republican Party doesn’t intend to offer a comprehensive alternative budget in the Senate. Instead, McConnell said, the GOP will offer numerous amendments to the administration’s budget plan.
I saw that exchange watching your program George and no alternative plan by Senate Minority Leader Mitch McConnell made the Republicans look like a party with no ideas.
How can someone with no plan make a prediction about the economy 5 years from now unless his eyes are on the 2012 election?
Today the news is Obama mobilizing over 10 million supporters in budget push calling Washington and knocking on neighborhood doors. Now that is impressive.
Posted by: Alex | March 16, 2009, 5:29 pm 5:29 pm
Obama is a lying, manipulative phony full of bravado and empty promises. The guy needs a teleprompter because he can’t remember the script. When he does speak off the cuff, we get the truth — “Joe the Plumber…share the wealth.” It’s his misfortune to have inherited really, really SERIOUS economic problems. In any other period, he could coast (his natural condition: doing as little as possible, and soaking up the credit for other people’s work). But in this economy, his indolence, his laziness, his narcissism will do him in. He’s not just going to go down. He’ll go down in FLAMES! I just wonder what will be left to salvage when he’s gone.
Posted by: NOBAMA | March 18, 2009, 8:09 pm 8:09 pm
the 1st trillion didnt dix it, the 2nd didnt. may obama will just keep throwing a trillion a month at the problem. the guys inexperience is showing. Remember, all of those rich people you hate is what keeps the stock market going. the market controls jobs. Keep going after the rich and they will show the country by not investing, meaning more jobless. Wake up. Capitalism is the only way. Learn yur history about obama. he is a radical
Posted by: MAY | March 24, 2009, 3:27 pm 3:27 pm
I am very much opposed to the “light switch tax”! Good grief..how many more ways can government get into my wallet???? STOP IT!!!
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