Skip navigation


Current DateTime: 11:41:30 30 Nov 2009
LinksList Documentid: 24355697
  • The Cost of True Love

      In the popular holiday song "The 12 Days of Christmas," the cost of gifts - from the 12 drummers drumming to a partridge in a pear tree - is quite pricey.

  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

powered by digg
By: Natalie Erlich, Write/Producer | 02 Apr 2009 | 11:01 AM ET
Text Size

Calling it "general theft," Sen. John McCain blasted the Obama administration's budget proposal on CNBC Thursday as irresponsible.

"We're already $10.7 trillion in debt. That's more than all the presidents combined from George Washington to George W. Bush," The Arizona Republican said.

"It's up to us as a party, not only for Republicans but for Americans, to present alternatives particularly because this is general theft that we're about to commit."

McCain said that raising taxes on the American people is not the answer. "It's basically what you would consider a fiscal conservative approach, but at the same time recognizing that we're in a ditch and we're not going to have a balanced budget for quite a while," he said.

McCain also said The Obama administration should have let General Motors [GM  Loading...      ()   ] go bankrupt some time ago. "We've spent $7 billion already on life support for a system that has to be fundamentally revised," said McCain.

For More Economic News On CNBC.com:

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
  • UPS truck
  • UPS is giving its customers the option to offset its carbon emissions when sending a package.
  • Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
  • alligator
  • Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
  • The continued real estate boom in China is partially fueled by a generational flood of newlyweds.
  • Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
ADD COMMENTS
Remaining characters


Current DateTime: 09:11:54 30 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:03:52 30 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 11:00:11 30 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 11:23:57 30 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters