Full Text Campaign Buzz October 15, 2012: Paul Ryan’s Speech at a Campaign Event in Waukesha, Wisconsin — Mitt Romney Will Confront Our Debt Crisis




Paul Ryan: Mitt Romney Will Confront Our Debt Crisis

Source: Mitt Romney Press, 10-15-12

“We have never knowingly given our kids an inferior standard of living, a diminished future, but that is exactly what we are doing by piling up this mountain of debt, by giving these deficits. And it takes leadership to confront this. That’s what Mitt Romney and I are offering. We are not going to run away from these problems; we’re going to run at these problems to solve these problems before they get out of our control.” – Paul Ryan


Waukesha, Wisconsin

October 15, 2012

Click Here To Watch Paul Ryan

PAUL RYAN: “Look at that debt clock over there. Look at how fast those numbers are running. When President Obama came into office, it was more than $5 trillion lower. The president came into office saying he would cut the deficit in half in his first term. He’s given us four years of trillion-dollar deficits. He has added almost more public debt than almost all previous presidents combined. Not only do we have a string of broken promises, not only do we have a string of a lack of leadership, this debt is not only hurting our economy today, it is guaranteeing that these young kids who are getting their Halloween costumes, who are going to go out trick-or- treating, have a diminished future. We have never done that in this country before. We have never knowingly given our kids an inferior standard of living, a diminished future, but that is exactly what we are doing by piling up this mountain of debt, by giving these deficits. And it takes leadership to confront this. That’s what Mitt Romney and I are offering. We are not going to run away from these problems; we’re going to run at these problems to solve these problems before they get out of our control. That’s what leaders do.”

Full Text Eric Cantor: Washinton Post Op-Ed “Removing the Obstacles to Economic Growth”



Eric Cantor: Removing the Obstacles to Economic Growth

Source: Eric Cantor, Originally published in The Washington Post, 8-22-11

Our country is facing two related but separate crises. The first is the federal government’s debt crisis, the result of decades of fiscal mismanagement by both political parties as well as unsustainable entitlement commitments. The second is the jobs crisis, which has resulted in painful levels of unemployment and underemployment. President Obama is wrong to think that the answer is to increase spending or raise taxes when so many millions of Americans are out of work.

In fact, the Obama administration’s anti-business, hyper-regulatory, pro-tax agenda has fueled economic uncertainty and sent the message from the administration that “we want to make it harder to create jobs.” There is no other conclusion for policies such as the new Environmental Protection Agency regulations, including the “Transport Rule,” which could eliminate thousands of jobs, or the ozone regulation that would cost upward of $1 trillion and millions of jobs in the construction industry over the next decade. The administration’s new maximum achievable control technology standards for cement are expected to affect nearly 100 cement plants, setting over-the-top requirements resulting in increased costs and possibly thousands of jobs being offshored. There is the president’s silence as the National Labor Relations Board seeks to prevent Boeing from opening a plant in South Carolina that would create thousands of jobs. Such behavior, coupled with the president’s insistence on raising the top tax rate paid by individuals and small businesses, has resulted in a lag in growth that has added to the debt crisis, contributing to our nation’s credit downgrade.

The debt crisis threatens our long-term future: the ability of our children and their children to have the same opportunities to succeed that this and previous generations enjoyed. Republicans passed a budget this spring, written by Rep. Paul Ryan, that would address our challenges head-on by putting in place common-sense reforms to manage our debt over the short and long term.

Unfortunately, we have found President Obama to be an unwilling partner when it comes to getting America’s fiscal house in order. Since taking office, he has added trillions to the debt, ignored the recommendations of his own fiscal commission and put forth a budget that failed to address the drivers of our debt. Then we had to drag him to the table to make even the modest spending cuts that Standard & Poor’s says don’t go far enough.

The president has acknowledged that without reform, spending on entitlement programs is unsustainable. But he has also made clear that he would never support the type of structural changes to Medicaid, Medicare and Social Security needed to make these programs solvent as envisioned in our budget — even if Republicans agree to his demand for tax increases. While a compromise on the way to strengthen entitlements may be one thing, raising taxes in this economy is another. Doing so would exacerbate the jobs crisis for the 14 million Americans out of work. It would negatively affect the businesses across America that we are counting on to get our economy going.

It is critical that as we work toward solutions to overcome both crises, the paths we take don’t expedite or worsen the other.

But the politics of division have reared up, fueled by efforts to incite class warfare. For example, though he often talks about millionaires, billionaires and corporate jet owners paying their “fair share,” behind closed doors the president admits to wanting to raise taxes on individuals making $200,000 per year and families and small businesses earning $250,000 per year.

Why does the president insist on higher taxes? Behind the rhetoric lies a desire to permanently increase the size of government — a philosophy that most Americans, who already think the government is trying to do too much — do not agree with. For the past few years, investors, families and businesses small and large have felt the threat of higher taxes, increased regulations and government expansion. Business people I talk to are worried about the massive costs imposed by the president’s health-care law and new regulations. Yet last week, the president called for more stimulus spending paid for by higher taxes and more job-killing regulations. The past two years have shown that this is no way to create jobs.

In lieu of more wasteful stimulus spending, we should go all-in on ways to invigorate growth. The Congressional Budget Office has found that for every one-tenth of 1 percent of additional economic growth, the budget deficit is narrowed by nearly $300 billion. Economic growth will help reduce the deficit and get people back to work.

That is why this fall the Republican Party will pursue a legislative agenda that boosts economic growth through reducing the regulatory and tax burden. We will make sure that Washington policies are less restrictive to businesses small and large. Our goals include repealing the “3 percent withholding rule,” which serves as an effective tax increase on those who do business with the government, and overturning the EPA’s proposed regulations that inhibit jobs in areas as varied as cement and farm dust. We plan to prevent the NLRB from inhibiting where a business chooses to create jobs. We well know that the Republican majority was not elected to raise taxes or take more money out of the pockets of hardworking families and business people. We were elected to change the way Washington does business and spends money.

The writer, a Republican from Virginia, is the House majority leader.

History Q & A: What Event in U.S. History Most Resembles the Debt Ceiling Crisis of 2011

History Q & A



Debt Ceiling Showdown, 2011 & Shays Rebellion 1786: For Debt Crisis Lessons, Look Back 225 years

Shays' Rebellion, an armed uprising in Massachusetts in the 1780s, may offer lessons in today's standoff over the debt ceiling.
Shays’ Rebellion, an armed uprising in Massachusetts in the 1780s, may offer lessons in today’s standoff over the debt ceiling.
  • Same issues in today’s debate over debt crisis also drove Shays’ Rebellion of 1786
  • Nation’s leaders opted for robust U.S. government after uprising led by New England farmer
  • But debate still stirs about the size and power of the federal government
  • Compromise rarely has resolved protracted political gridlock in the U.S., historians say

(CNN) — America’s political leaders are paralyzed. The government is reeling from debt. Corrupt bankers foreclose on people’s homes as a brutal recession sweeps the land.

We’re talking, of course, about the great debt standoff of 1786: Shays’ Rebellion.

Nervous Americans glancing at the upcoming August 2 deadline for raising the debt ceiling are being told that the nation is entering uncharted territory. But historians say they’ve seen this movie before.

Many of the same issues driving this modern-day standoff — disagreement on how to handle the national debt, ineffective government and a populist citizen’s revolt — drove the 18th-century uprising that’s been called America’s first civil war.

Historians say the lesson that can be drawn from Shays’ Rebellion and other transformative events in U.S. history is this: Protracted political gridlock is seldom resolved through compromise. It comes when one political party finally beats the other down.

Many Americans, however, have told pollsters that they want the political parties to work together to solve the debt ceiling crisis. Yet political stability doesn’t always come through give-and-take, some historians say

“There are times when only the outright defeat of political enemies can bring about needed reform,” says Richard Striner, a history professor at Washington College in Chestertown, Maryland.

“It was only by confronting and defeating the aggressive leadership of the slave states that Lincoln and the Civil War Republicans rid the nation of slavery.”…READ MORE

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