Congressman Robert Hurt released the following statement after Federal Reserve Chairman Ben Bernanke delivered his semiannual report to the House Committee on Financial Services on the state of the economy:
"Today, Chairman Bernanke stated that, "the challenge for the Congress and the Administration is to put the federal budget on a sustainable long-run path that promotes economic growth and stability without unnecessarily impeding the current recovery.'
"As a member of the Financial Services Committee and as a representative for the people of Virginia's 5th District, I agree with the Chairman's statement that our economy depends on setting our country's future on a sustainable path. For the last two years, the House of Representatives has led on making the tough choices necessary to reduce spending in Washington and reduce the burdens that have been "unnecessarily impeding the current recovery.' We have put forth proposals to cut wasteful spending and reform unsustainable government programs that so many people depend upon. At the same time, we have led on reducing the job-crushing effects of over-regulation presented by the President in the form of Dodd-Frank and the President's health care law. Unfortunately, over the past two years, the President and the Senate have refused to debate these critical issues.
"Every day we delay is a day closer to the day that we will be unable to prevent a devastating debt crisis. Now is the time for leadership from the President and the Senate. I hope we will be able to find common ground to address these issues in the near future. The future for our children and grandchildren depend upon it."