Robin Smith Denounces Out of Control Federal Spending

HIXSON, August 7 – Third District Congressional Candidate Robin Smith today reacted to the release of the latest Congressional Budget Office (CBO) Monthly Review, revealing that the federal deficit has reached a record $1.3 trillion. According to the CBO, $880 billion of the deficit spending has come in the past year alone.

CBO reports that the bulk of the record spending increases are the result of the Troubled Asset Recovery Program (TARP) and the economic stimulus plan.

“These numbers are simply staggering. We must stop this out of control spending, and I have repeatedly said that will be my first priority,” Smith said.

“This report demonstrates what Tennesseans have known for a while. Our government has lost all sense of fiscal responsibility. We are tired of watching Barack Obama and Nancy Pelosi throw our money away on car companies, bailing out big business, wasteful pork and $200 million for Nancy Pelosi’s new private jet fleet.”

Smith noted that Speaker Pelosi's website states, “Our federal budget should be a statement of our national values. One of those values is responsibility… Instead of piling trillions of dollars of debt onto our children and grandchildren, we have restored Pay-As-You-Go budget discipline, adopted fiscally responsible budgets, and worked to stop waste,fraud, and abuse to ensure that taxpayers' money is not wasted.”

“I would like to invite Speaker Pelosi to the Third District and let her determine if Tennesseans believe her Congress has acted responsibly,” Smith said.”I suspect that if she came down to visit with us, she would find a starkly different opinion. Democrats’ refusal to deal with the real issue of placing our children’s economic future in jeopardy is why the Third District Congressional seat should and will remain in Republican hands.”