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Mr. CORNYN. Mr. President, as President Obama gets ready to deliver his State of the Union Address tonight, I would like to remind the American people of what he said 4 years ago during his first speech to a joint session of Congress. Four years ago President Obama said he did not believe in big government.
Since then he has given us four consecutive trillion-dollar deficits, he has nationalized our health care sector, and he has used Federal agencies to impose Draconian regulations. If we add the cost of all these proposed or final regulations the Obama administration published last year, the total economic burden comes to more than $236 billion. That is a wet blanket on the American economy and economic growth and job creation. If anyone out there still thinks President Obama opposes big government, as the song goes, ``I've got some oceanfront property in Arizona'' I'd like to sell you.
Four year ago the President told us he was concerned about our massive national debt. Since then our gross national debt has increased by nearly $6 trillion and has grown larger than the entire U.S. economy.
Four year ago the President said we could not ignore our long-term challenges. Since then he has ignored the recommendations of his own bipartisan fiscal commission known as Simpson-Bowles, and his own Treasury Secretary has acknowledged that the Obama administration does not have a serious plan for long-term debt reduction.
Four years ago the President told us his trillion-dollar debt-financed stimulus package would feature unprecedented oversight. Then we learned the stimulus package wasted money on boondoggles such as Solyndra.
Four years ago the President promised us his plan for health care reform would reduce the cost of health care for American families. Since then the cost of employer-provided family health insurance has increased by more than $2,300 per family.
Four years ago the President said he viewed the Federal budget as a blueprint for our future. Since then two of the President's budget proposals have been unanimously rejected by this Chamber--by Republicans and Democrats alike--and America's credit rating has been downgraded.
If you buy these unfulfilled promises the President has made over the last 4 years, as the song goes, not only will I sell you some oceanfront property in Arizona, ``I'll throw the Golden Gate in for free.''
In short, much of what the President has said in February of 2009 has been hollow rhetoric, unmet with action and followup. I can only hope the President's speech tonight will seriously address our biggest fiscal challenges: a debt burden larger than our economy, $37 trillion in unfunded Medicare liabilities, and more than $100 trillion in total unfunded liabilities.
In addition, I can only hope the President will offer a serious plan for boosting economic growth and reducing unemployment. Amid the longest period of high unemployment since the Great Depression, with the national rate still hovering near 8 percent, Americans deserve a President who is focused intensely on the right policies for job creation.
A second term offers a second chance. If the President wants to regain the credibility he has lost over the last 4 years on each of these issues, he will start tonight.
I yield the floor.
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