“I have been a business person for a long time; I know a marketing campaign when I see one, and tonight’s speech was little more than a public relations effort to give an out-of-control Washington an image makeover,” McMahon, a Republican running for U.S. Senate, said in a statement.
“If Washington is serious about fiscal responsibility, it will put in place a real and immediate spending freeze on the remaining portion of the stimulus, table a second planned stimulus, use all of the paid back and unspent TARP funds to pay down the federal debt and put the brakes on its budget-busting health care reform initiative.
“The American people are frustrated and angry about record unemployment and skyrocketing deficits, and instead of solving problems, Washington is just making things worse. According to the Congressional Budget Office, Washington is on pace to run an aggregate deficit of nearly $6 trillion in the coming decade. It is on track to double today’s $12.4 trillion federal debt in five years and triple it in 10 years. For the foreseeable future, our country will be borrowing inordinate amounts of money just to make the interest payments on borrowed money.
“Families and small businesses understand what Washington still doesn’t get: we cannot continue to spend money we don’t have on things we can’t afford.”
McMahon concluded: “Career politicians have failed us. It’s time for something different.”