McConnell: 'Americans Are Wondering How We're Going To Pay For All This'

Press Release

U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Wednesday:

"Yesterday the Senate cast one of the most expensive votes in history.

"We've heard a lot from our friends about the danger of deficits over the past few years.

"Yet the Senate this week voted to spend more than $1.2 trillion, including interest, over the next ten years. The projected annual budget deficit for Fiscal '09 is $1.2 trillion.

"And we're told this is just the beginning.

"We've known for weeks that the Treasury Secretary is planning a financial rescue plan. We still don't know the cost.

"Apparently, the sticker shock would have been too much to take one day after the Senate voted to spend $1.2 trillion on a Stimulus.

"All of this is on top of the $400 billion Omnibus Appropriations bill we'll soon vote on — which will bring discretionary spending for the year to more than $1 trillion for the first time.

"Americans are wondering how we're going to pay for all this.

"Judging by the market reaction to Secretary Geithner's announcement yesterday and the newspaper editorials this morning, it's clear that everyone is looking for a little more detail.

"With that in mind, the importance of a thorough review of the Administration's budget is all the more important, so we know the totality of what the Administration is asking of taxpayers.

"Any parent knows you don't buy a new car and plan the summer vacation before you set the family budget for the year.

"I think Americans would like to know how the Administration plans to pay for all these things in the context of all the normal annual spending.

"In the 24 days that Congress has been in session this year, Congressional Democrats have agreed to spend more than $50 billion a day.

"Americans know they have a limit on their spending.

"This week they're wondering what government's limit is."

Source