Cornyn Comments on President Obama’s Debt Speech

In response to President Obama’s speech at George Washington University on America’s national fiscal crisis, I issued the following statement:

The first step towards fixing a problem is admitting you have one. This, the President finally did today. While the President didn’t lead on this issue, House Republicans did in a display of great political courage. This speech comes five months after the President’s own fiscal commission provided irrefutable evidence of this impending crisis and after he offered a budget which would doubles the debt in five years and triple it in ten years.

President Obama has proven adept at giving speeches long on rhetoric and short on specifics, and today’s speech was no different. But Americans were not fooled: higher taxes will not solve our nation’s economic woes. What’s more, the President should withdraw his flawed, debt-laden budget and replace it with one that cuts spending and facilitates economic growth, as opposed to the same old tired tax and spend policies we have come to expect.