Former Secretary of State Colin Powell cautioned President Obama to slow down his ambitious agenda, out of concern for spiraling budget deficits.
Obama is hoping to pass legislation that would overhaul the health care system and implement a cap-and-trade energy program -- in the face of a recession and significant budget deficits.
"I think one of the cautions that has to be given to the president — and I've talked to some of his people about this — is that you can't have so many things on the table that you can't absorb it all. And we can't pay for it all," Powell said on CNN's "State of the Union."
"I think the president, as he moves forward with his initiatives, has to start really taking a very, very hard look at what the cost of all this is," Powell said. "And how much additional bureaucracy and will it be effective bureaucracy be needed to make all of this happen."
More Powell: "I never would have believed that we would have budgets that are running into the multi-trillions of dollars, and we are amassing a huge, huge national debt that, if we don't pay for in our lifetime, our kids and grandkids and great grandchildren will have to pay for it." - Politico Story
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