{"id":37606,"date":"2011-05-19T00:00:17","date_gmt":"2011-05-19T00:00:17","guid":{"rendered":""},"modified":"2011-05-19T00:00:17","modified_gmt":"2011-05-19T00:00:17","slug":"treasury_secretary_admits_that_obama_budget_is_unsustainable","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/treasury_secretary_admits_that_obama_budget_is_unsustainable\/","title":{"rendered":"Treasury Secretary Admits That Obama Budget is “Unsustainable”"},"content":{"rendered":"
\n

RUSH: Ladies and gentlemen, this sound bite, this yesterday in Washington on Capitol Hill, it was a Senate Budget Committee hearing on Obama\u2019s 2012 budget. The Treasury secretary, little Tim Geithner testified, and during the question and answer Senator Jeff Sessions of Alabama said, ‘Let\u2019s talk about our interest situation under your budget. The interest increases every year. It was $187 billion in 2009. Under your proposal, the interest increases to $844 billion. And would you not agree that that\u2019s a stunning figure, perhaps the fastest growing item in the budget? And all of that is a direct result of the debt we\u2019re running up, and only a modest expectation of interest rate increases.\u2019<\/p>\n

GEITHNER: Senator, absolutely. It is an excessively high interest burden. It\u2019s unsustainable —<\/p>\n

SESSIONS: Well, it\u2019s your plan! For the ten years. I mean, that\u2019s the one the president has submitted! That\u2019s what he\u2019s asked us to vote on. It will result in this — and that\u2019s your numbers, off your budget.<\/p>\n

GEITHNER: Senator, you\u2019re absolutely right. With the president\u2019s plan — even if Congress were to enact it, and even if Congress were to hold to it and reduce those deficits to 3% of GDP over the next five years — we would still be left with a very large interest burden and unsustainable obligations over time. That\u2019s why we\u2019re having the debate. I completely agree with you. But the question, though, is — just to be direct about it — what\u2019s the alternative plan?<\/p>\n

SESSIONS: Well, what your plan is is that plan. It\u2019s the one you\u2019re required by law to submit, and that\u2019s what you called for, and it\u2019s not acceptable. I\u2019m sorry, it\u2019s a plan not for ‘winning the future,\u2019 but losing the future.<\/p>\n

RUSH: Jeff Sessions, Alabama. But the interesting thing here, let\u2019s go back on Monday, or whenever it was. I think it was Monday Obama said, ‘It\u2019s time to live within our means. Okay, here\u2019s a budget, this is responsible, we\u2019re gonna live within our means. We\u2019re gonna get serious about cutting the deficit. In fact, my budget\u2019s gonna cut the deficit $1.1 trillion over ten years,\u2019 blah, blah, blah, blah, and here\u2019s the Treasury secretary admitting that Obama\u2019s budget is unsustainable! It\u2019s almost like a threat. He agrees with Sessions, ‘Yeah, it\u2019s unsustainable,\u2019 what are you gonna do about it? <\/p>\n

‘You\u2019re absolutely right, Senator. Even if Congress were to enact this, we\u2019d still be left with a very large interest burden. That\u2019s why we\u2019re having the debate. I completely agree with you, but the question is, just to be direct about it: What\u2019s the alternative?\u2019 What are you guys gonna do? In other words, ‘Yeah, we got a budget here that\u2019s gonna bust this government. What\u2019s your plan?\u2019 So clearly Geithner and Obama think the public is clearly on the side of spend, spend, spend; benefit, benefit, benefit. You guys tell senior citizens they\u2019re not gonna get what they expect. You guys tell Medicare and Medicaid people are not going to get what they expect. This is a threat. They\u2019re throwing down the gauntlet. You guys make the tough decisions. <\/p>\n

And Sessions says, ‘Well, this is your plan. It\u2019s not acceptable. It\u2019s a plan not for ‘winning the future,\u2019 but losing the future.\u2019 So if they\u2019re gonna go up there and admit… You know, Geithner, they\u2019re submitting an unsustainable budget tantamount to dereliction of duty! <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Ladies and gentlemen, this sound bite, this yesterday in Washington on Capitol Hill, it was a Senate Budget Committee hearing on Obama\u2019s 2012 budget. The Treasury secretary, little Tim Geithner testified, and during the question and answer Senator Jeff Sessions of Alabama said, ‘Let\u2019s talk about our interest situation under your budget. The interest […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nTreasury Secretary Admits That Obama Budget is "Unsustainable" - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/treasury_secretary_admits_that_obama_budget_is_unsustainable\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Treasury Secretary Admits That Obama Budget is "Unsustainable" - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Ladies and gentlemen, this sound bite, this yesterday in Washington on Capitol Hill, it was a Senate Budget Committee hearing on Obama\u2019s 2012 budget. 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