Sen. Graham: Deal Does Not Significantly Change Spending

Tuesday, 02 Aug 2011 04:50 AM

By Hiram Reisner

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
South Carolina Sen. Lindsey Graham says he opposes the debt-reduction compromise because  spending cuts in the deal do not change the big government “dynamic.” Graham also told Fox News’ Greta Van Susteren Monday he is extremely concerned about the possibility of Pentagon budget cuts.
“Here’s my concern: It really doesn’t, in my view, cut spending in a way to say that we've changed the dynamic that got us into $14 trillion in debt,” Graham said. “There’ll be more debt — $7 trillion over 10 years. The amount of spending cut in 2012 is $21 billion. That’s two-and- a-half days of federal spending.”
Graham said he was concerned that “every penny of the $2.3 trillion” in the proposed debt ceiling hike will be borrowed.
“The average length of time we extend the debt ceiling since 1940 has been nine months — we chose 22 months here, and we’re borrowing $2.3 trillion, which is historic,” he said. “Why we did that as Republicans, I don’t know. President Obama wants this to end — he wants to have no more of these debates until January 2013.”
Graham noted that since the House comprises only one third of the federal government the leadership probably ended up with the best deal it could negotiate — but it is not enough to garner his vote. In addition, he was extremely concerned about possible defense cuts.

“What gets me the most, is the defense side. Under this agreement, our defense budget could be cut up to a trillion dollars,” Graham said. “The trigger . . . if this joint committee doesn’t produce the $1.2 trillion, the agreement says that 50 percent of the $1.2 trillion comes out of the defense budget.

“We’re already cutting it $400 billion. Our new chairman of the Joint Chiefs nominee said it’s difficult to find $400 billion in cuts. I believe $800 billion would be extremely difficult, very high risk,” he said. “And at the end of the day, what we’ve done as Republicans is put the defense cuts on the table at a level I could never envision as a Republican. The biggest loser of this clearly would be the men and women in uniform.”

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Cambodia HIV Outbreak: 100-Plus People Diagnosed; Investigation Sought

Friday, 19 Dec 2014 18:50 PM

More than 100 HIV infections in a single Cambodian village have spurred the country's prime minister to ask for an inves . . .

Slender Man Case: Two Girls Competent to Stand Trial in Stabbing

Friday, 19 Dec 2014 18:26 PM

Two girls who allegedly stabbed a 12-year-old friend over the online game Slender Man are competent to stand trial for a . . .

Kate Upton Sexiest Woman Alive; Model Apologizes to Teen Brother

Friday, 19 Dec 2014 17:52 PM

Model Kate Upton was selected as People magazine's first Sexiest Woman Alive, a month after Chris Hemsworth received the . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved