Alexander: “President Obama’s America Will Be Difficult for Our Children and Grandchildren to Afford”

Says, “The president’s budget spends more on interest on the national debt than on defense.”

Posted on March 25, 2009

U.S. Senator Lamar Alexander (R-Tenn.) made the following remarks as part of his opening statement in today’s Budget Committee hearing on President Obama’s proposed budget: • “The budget the president offers will change this country. It will give us a different kind of America: one with more government, one with less freedom, one with more debt and higher taxes, and a country that will be very difficult for our children and grandchildren to afford.” • “The president’s budget presents for the country a good, honest look at where he wants to take us over the next 10 years, and I commend him for his transparency. But just because I commend his transparency doesn’t mean I like the picture I see. The fact of the matter is that the picture the president presented is an accurate picture—and to me it is an alarming picture.” • “I have done a lot of work with schools, and it’s often said that if you take a photograph of the first-graders in the community, you can get a very accurate picture of what the community will look like in 10 years. I think the chairman has done his best to move a few of the children out of the room for the class photograph, like the alternative minimum tax and a few others.” • “There are many references to President Bush. I really don’t know what my Democratic friends would talk about if they didn’t spend half their time talking about President Bush, but I’d like to remind them that President Bush was not judged upon whether he caused Hurricane Katrina. He was judged on how he cleaned it up and whether he did it well. And no one suggests that President Obama has caused the economic difficulties we have today. We are all impressed with President Obama; he’s a very talented person. But every day more and more people are looking to see how he proposes to fix the problem.” • In the 10th year of the president’s budget, we spend more for interest on the national debt than on defense, eight times more for interest on the national debt than we would be spending on education, and eight times more on interest on the national debt than we’d spend on transportation. Every penny we add to the debt, not only do we have to pay it back, we have to pay interest. All this takes money away from our efforts at national competitiveness, at building up our infrastructure, and at keeping money in our pockets so that we can buy homes and support our families.” ######