From NBC's Mark Murray
Republicans have seized on today's news that the budget deficit, per the Congressional Budget Office, will top $1.8 trillion this year and will reach nearly $1.4 trillion in 2010 -- more than the Obama administration's estimate.
Said Sen. John McCain in a statement: "The Congressional Budget Office report proves that the Administration has indeed engaged in a policy of generational theft. The CBO numbers show the reality of the fundamentally flawed assumptions of the president's budget and make clear what it really is: a risky, debt-ridden threat to the nation."
Here's Sen. John Thune: "These numbers are staggering and prove that spending in Washington is out of control. It is unconscionable to borrow this much money from China and force American families and small businesses to cover the cost through higher taxes."
And House Minority Leader John Boehner: "We simply cannot continue to mortgage our children and grandchildren's future to pay for bigger and more costly government. Families and small businesses across America are making difficult budget decisions each and every day during this recession, and it's time for Washington to do the same. Unfortunately, the President's budget doesn't do that."