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Congressional Budget For The United States Government For Fiscal Year 2010

Floor Speech

By:
Date:
Location: Washington, DC

BREAK IN TRANSCRIPT

Mr. CHAMBLISS. Madam President, as everyone knows, the chairman of the Budget Committee happens to be a dear friend of mine, a guy with whom I work on any number of issues on a regular basis. I empathize with him for having to take what I think has been generally recognized as a freewheeling spending budget coming from the White House and try to evolve that into something that is meaningful and much more responsible. Unfortunately, that is a difficult task. I don't think it has been done. I thought for a minute, in listening to the chairman of the committee speak about the McCain alternative, that perhaps he was going to support it. But I understand why he can't.

There is one other major difference the Budget Committee chairman fails to point out between the President's budget and the Democratic budget we will be voting on, and it is a fundamental difference. The President's budget and the Democratic budget focus on where we are going to spend money, versus the McCain budget which seeks to reduce Federal spending for the short term and the long term. The reason that is a fundamental difference is that when you look at the President's budget and you look at the Democratic budget, in the year 2019, for example, the amount of money that will be owed as interest on the debt will exceed the amount of money we are going to spend on discretionary defense. That is outrageous.

I have four grandchildren. Two of them are brand new. They are the ones who will be charged with repaying this debt. By passing the Democratic budget and the President's budget, there is simply no way the grandchildren of all of us are ever going to be able to pay the money back.

I urge support for the McCain alternative.

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