Continuing with the theme from his radio address on Sunday, Senator Judd Gregg today introduced an amendment to the Senate budget legislation that would prohibit "the consideration of any budget resolution, amendment, or conference report that shows an increase in the public debt over the following ten years by an amount equal to or greater than the debt accumulated from 1789 to January 20, 2009.”
In a press release Senator Gregg said, “The budget will double and ultimately triple the debt.” He continued, “It creates more debt than under every President from George Washington to George W. Bush combined. By the end of the five-year budget window, debt held by the public will be close to 67% of GDP.
Gregg’s office claims the President’s budget will add another $11 trillion to the debt over the next ten years.
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