Congressman Jeb Hensarling, Chairman of the House Republican Conference, issued the following statement today as the House of Representatives began consideration of the "Path to Prosperity" budget proposal introduced by House Budget Committee Chairman Paul Ryan.
"The fact-based budget proposal the House is considering cuts through the rhetoric in Washington to reach this simple truth: in order to create jobs today and avoid national bankruptcy tomorrow, we must stop spending money we don't have. Our historic budget will put us back on track to cut spending, encourage job creation, reduce our deficits and debt, foster economic growth, and reform and protect health and retirement security for all Americans.
"All that the American people have heard from President Obama are speeches designed to win him the next election, not save the next generation. We cannot help the job seeker by punishing the job creator. At a time when employers are craving certainty in order to create jobs, the president wants to burden them with the largest tax increase in American history. Our plan would prevent this job-crushing tax hike and restore confidence to our economy by tearing down the walls of uncertainty caused by reckless spending and regulations.
"For too long, Americans have experienced a leadership deficit from the same administration and party that burdened our nation with record-high, trillion-dollar budget deficits for three years in a row. The president might not have put us on this road to national bankruptcy, but he's pushing the accelerator. It's not surprising that a majority of Americans believe our country is headed on the wrong track--we are.
"No nation can spend, tax, borrow, or bail-out its way to prosperity. Our plan operates on the honest premise that we are in a debt crisis because Washington spends too much, not because it taxes too little. We don't have a revenue problem--we have a spending problem. Our plan repeals and defunds the job-destroying government takeover of health care and significantly lowers spending, restraining the size of government to 20 percent of the economy by 2015 and 15 percent of the economy in 2050.
"America faces a choice of two futures. Either we can ignore the spending-driven debt crisis, continue the status quo and accelerate the unnecessary decline of our exceptional nation, or we can reverse course and build a freer and more prosperous future for every American. This is a plan to put America back on the path to prosperity and job growth, and we call on Senate Democrats and President Obama to join us in this fight."