Profligate Dems Waste TRILLIONS

UPDATE: Cantor on MSNBC,

House Minority Whip Eric Cantor (R-Va.) said Tuesday that President Barack Obama’s plan to ramp up stimulus spending is a sign the $787 billion package passed in February is “not a success story.”
“How can we sit here and claim success when people are hurting out there?” Cantor asked during an interview on MSNBC. “We already know, as of now, at the rate that we lost jobs last month, over eight people a minute in America are losing their jobs. That's eight families without a paycheck.”

 Cantor Statement on PAYGO and
Administration, Democrat Spending

"The Administration's sudden focus on PAYGO seems more driven by polling and PR strategy than a serious commitment to fiscal discipline."

WASHINGTON, D.C. – House Republican Whip Eric Cantor (R-VA) today issued the following statement prior to the President’s meeting with Speaker Pelosi (D-CA) and other Democrats on PAYGO and federal spending:

“It seems a tad disingenuous for the President and Speaker Pelosi to talk about PAYGO rules after ramming trillions in spending through Congress proposing policies that create more debt in the first six months of this year than in the previous 220 years combined. It’s as if the Administration and these Democrat leaders are living in an alternate universe. The quickest way to save money is to stop recklessly spending it. The Administration's sudden focus on PAYGO seems more driven by polling and PR strategy than a serious commitment to fiscal discipline.

“Republicans have thoughtful, focused initiatives. The Administration needs to get serious, and we are – again – willing to meet with the President to work on substantive, focused efforts to revive this economy – because Americans deserve better than what they are getting.”

FISCAL TIMELINE, 2009

• February 13, 2009: Democrat House passes stimulus without Republican input
• February 17, 2009: $787 billion stimulus signed by President Obama
• February 23, 2009: Bipartisan budget summit (Total debt outstanding: $10.839 trillion)
• March 11, 2009: $410 billion appropriations enacted with over 8,500 earmarks
• March 11, 2009: President announces earmark reforms after passage
• March 24, 2009: Prime time news conference (Total debt outstanding: $11.046 trillion)
• April 20, 2009: $100 million savings announcement (Total debt outstanding: $11.189 trillion)
• April 29, 2009: House passes irresponsible $3.6 trillion budget
• End of April, 2009: Administration bails out Chrysler
• May 7, 2009: President submits savings proposal of .5% of the budget
• June 1, 2009: Administration purchases GM (approx $50-$70 Billion)
• June 4, 2009: House Republican propose $375 billion in common-sense taxpayer savings
• June 8, 2009: Gallup/Rasmussen reflect dissatisfaction with Admin. on spending/deficit
• June 9, 2009: President holds a PAYGO summit with Democrats and no Republicans