Obama’s budget is a calculated risk not a sweetheart deal

By Candyce Torres, University of New Mexico-Talk Radio News Service. “If the American people look at the budget they should be extremely concerned about what it’s going to do to their children’s capacity to have a high quality of life, what’s it’s going to do to the ability of this nation to basically continue to function as fiscally-responsible country.” said Senator Judd Gregg (R-NH)

Today a press conference on the budget was held by Senator Greg and Minority Leader Senator Mitch McConnell (R-KY). Together McConnell and Gregg expressed serious concerns pertaining to the size of the budget. Gregg indicated that spending will drastically increase over time because the Obama budget has proposed they take spending at the federal level up to 23% of gross national product and keep it there. As a result he stated this will create massive spending gaps, which will lead to massive deficits, and will ultimately result in massive debt. He concluded that after 10 years the debt will translate into $17 trillion.

“If you take all the president’s since George Washington through George Bush and add up all the debt they have put on the books for the American people; President Obama’s proposal actually equals and exceeds that amount of debt in his first term, staggering numbers when you think about it.” concluded Gregg