The "debt hawk" weighs in

Ohio Senator George Voinovich, a Republican, had this to say about President Barack H. Obama's proposed budget:

“President Obama has delivered a budget outline that attempts to fool the American people with smoke and mirrors. He unrealistically promises everything to everyone and masks the sacrifices Americans will be forced to make if it passes. To act like it is some sort great accomplishment to reduce the deficit in four years to a level that is still higher than every deficit from the end of World War II up until Barack Obama’s inauguration is absurd. And, the $533 billion figure he touts for Fiscal Year 2013 ignores the continued borrowing from Social Security and other trust funds to the tune of roughly $200 billion a year. It doubles the debt in five years and triples the debt in 10 years, continuing huge deficits beyond this administration. Failing to tackle entitlement and tax reform and relying simply on an obvious phase-out of the astronomical spending in his stimulus bill, a reduction of troops in Iraq and Afghanistan and revenue from an irresponsible cap-and-trade program is a womb-to-tomb tax increase for every child born in this country.

“And, where are the $2 trillion in cuts and terminations we were promised? Although they are absent, he does promise to make middle class tax relief permanent while spending at least $634 billion on establishing a path to universal health care, but he does not know how he will fully pay for it.

“President Obama’s budget includes a cap-and-trade auction program to generate revenue for his botched spending priorities and permanent tax cuts. This is simply a veiled consumer tax increase the likes of which have already received a devastating critique from the EPA, EIA and many well respected economists. The impacts of this program will be disproportionately felt by states like Ohio who depend on coal for much of their energy needs. The president’s plan maximizes the economic pain of emissions reductions by requiring energy producers and users meet their compliance needs at auctions designed to maximize the costs that will ultimately be passed on in the form of higher gasoline, power and heating bills – stressing families and killing jobs. And, because energy costs are a form of regressive tax, the program will hurt our most vulnerable citizens at a time they can’t take any more pain. Indeed, the budget assumes this new tax will generate $645 billion over an eight year period – something businesses, workers and families cannot afford in this time of economic crisis.

“While I believe we have a responsibility to reduce emissions, we should not do so in a manner that further erodes our economic stability and our energy and national security interests. Last year, I worked very hard to kill a similar proposal when it came to the Senate floor. I will do so again unless significant revisions to this proposal are made.”

With talk like this, it will be sad to see him retire from the U.S. Senate, as he plans to do after this term. Republican Rob Portman and Democrats Lee Fisher (Ohio's lieutenant governor) and Jennifer Brunner (Ohio's secretary of state) have announced their intentions to run for the seat.