You are currently viewing the printable version of this entry, to return to the normal page, please click here.

PICKET: Sen. Sessions - Obama's 'secret' cliff plan would hike fed debt another $9T...let C-SPAN into talks

← return to Water Cooler

The office of Senator Jeff Sessions, Alabama Republican and Ranking Member of the Senate Budget Committee, issued a statement on Monday night warning that President Obama’s fiscal cliff plan would push the federal debt another $9 trillion over ten years. This would take the federal debt to over $20 trillion by the end of the president’s second term and to over $25 trillion over ten years. According to Sessions, by 2016, the yearly federal spending would overshadow $4 trillion. This would include a 30 percent increase in welfare costs.

According to the statement released from Sessions’s office:

“There is a reason why the White House strongly prefers to operate in secrecy… If the White House believes our analysts are mistaken, the Budget Committee is standing by to review any concrete financial plan the President wishes to produce.”

I spoke with Senator Sessions on Monday and like Grover Norquist, who believes C-SPAN cameras should be covering the fiscal talks, Sessions agreed saying it would be a “good idea” to do so.

The Alabama Republican believes there is a reason why the White House “operates in secrecy.”

“I am confident that if they made this secret proposal public, and in a form that could be scored by CBO, these facts would become clear and the ‘plan’ would be resoundingly rejected by the American people and their representatives in Congress,” he wrote. Sessions included the following figures:

More than $170 billion in stimulus spending, including $26 billion for extended unemployment benefits, $50 billion for transportation spending, and $90 billion for an extension of the payroll holiday (which is considered on-budget spending)

· The elimination of the $1.2 trillion sequester (half of the spending cuts exchanged in 2011 for the $2.1 trillion in previous debt limit increase) without corresponding spending cuts, resulting in a $1.2 trillion spending increase

· The unpaid-for ‘doc fix’ for Medicare reimbursements ($394 billion)

· Only $600 billion in mandatory ‘savings’ primarily achieved through further reductions in provider payments beyond those in the President’s health law, which do nothing to enhance the long-term sustainability of entitlement spending

· Over $800 billion in phony ‘war savings’—one of the most widely discredited budget gimmicks in existence

Secretary Geithner’s claim of two dollars in spending cuts for every one dollar in tax hikes is therefore an egregious falsehood. The President is calling for $1.6 trillion in tax hikes. But instead of a corresponding $3.2 trillion spending cut, there is a more than $1 trillion spending increase.

“We believe that these figures accurately state what the President has in mind. But, if the White House believes our analysts are mistaken, the Budget Committee is standing by to review any concrete financial plan the President wishes to produce,” the statement concluded. 

← return to Water Cooler

About the Author
Kerry Picket

Kerry Picket

Kerry Picket, a former Opinion Blogger/Editor of The Watercooler, was associate producer for the Media Research Center, a content producer for Robin Quivers of "The Howard Stern Show" on Sirius satellite radio and a production assistant and copy writer at MTV.

Latest Stories

Latest Blog Entries

Comments
blog comments powered by Disqus
You Might Also Like
  • Maureen McDonnell looks on as her husband, former Virginia Gov. Bob McDonnell, made a statement on Tuesday after the couple was indicted on corruption charges. (associated press)

    PRUDEN: Where have the big-time grifters gone?

  • This photo taken Jan. 9, 2014,  shows New Jersey Gov. Chris Christie gesturing as he answers a question during a news conference  at the Statehouse in Trenton.  Christie will propose extending the public school calendar and lengthening the school day in a speech he hopes will help him rebound from an apparent political payback scheme orchestrated by key aides. The early front-runner for the 2016 Republican presidential nomination will make a case Tuesday Jan. 14, 2014, that children who spend more time in school graduate better prepared academically, according to excerpts of his State of the State address obtained by The Associated Press. (AP Photo/Mel Evans)

    BRUCE: Bombastic arrogance or humble determination? Chris Christie’s choice

  • ** FILE ** Secretary of State Hillary Rodham testifies on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, before the Senate Foreign Relations Committee hearing on the deadly September attack on the U.S. diplomatic mission in Benghazi, Libya, that killed Ambassador J. Chris Stevens and three other Americans. (AP Photo/Pablo Martinez Monsivais, File)

    PRUDEN: The question to haunt the West

  • Illustration by Greg Groesch/The Washington Times

    LAMBRO: Skirting the lane-closure issue

  • Illustration by Linas Garsys/The Washington Times

    LYONS: Benghazi demands a select committee in Congress

  • Happening Now