The Democrats have had a 'dishonest' record on the budget, Senator Gregg said, and after running a campaign of controlling spending in 2006, violated their own PayGo rules. Democrats' budget plans contain a $1.4 trillion tax increase due to their refusal to extend the Bush tax cuts
Senator Gregg referred to Obama's tax, spend, and budget agenda as the 'Obama Spend-O-Rama' that would add over $300 billion annually to the budget. Obama's explanation is that he would pay for new spending through taxes on the rich which, Senator Gregg estimated, would only bring in about $25 billion of additional revenue.
For those interested I did a video report on Obama's top five tax hikes today as well.
Senator Obama's plans would constitute 'the single largest increase in spending' for taxpayers, Senator Gregg warned.