06.10.11
“Our fast-rising debt, and our inability to adopt a credible budget plan, is shattering economic confidence and jeopardizing our future. Yet Senate Democrats refuse to put forward such a budget plan or to confront the debt that they themselves have surged... To put America back to work the Senate needs to get back to work.”
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, released the following statement today as troubling indicators continue to show that the economic recovery lags far behind previous ones. He noted that Senate Democrats are blocking action on a budget plan that could restore economic confidence, create jobs, and tackle the debt that has rapidly grown as a result of the president’s policies. Sessions also warned against the “siren call” of Keynesian economic policies:
“Several months ago, Treasury Secretary Tim Geithner testified before the Budget Committee and expressed his support for academic research showing that debt levels as high as ours severely weaken economic growth. For nearly three years the White House has been seduced by the vision of growth through artificial means—including trillions in fiscal stimulus and so-called 'investments.' By the end of this year we will have added $5 trillion to our gross debt since the president took office. But, predictably, Keynes' siren call did not lead us to paradise.
We have restored only 1/5 of the jobs lost in the recession, and are experiencing the weakest recovery in modern history. Unemployment is back up again and the housing market is back down. Our fast-rising debt, and our inability to adopt a credible budget plan, is shattering economic confidence and jeopardizing our future. Yet Senate Democrats refuse to put forward such a budget plan or to confront the debt that they
themselves have surged. The Democrat-led Senate hasn't passed a budget in 770 days. And the only plan submitted by the president—unanimously rejected by the Senate—is one that would double our gross debt in ten years while raising taxes dramatically. We are told the president has not even involved himself in discussions over the debt limit. What signal do these actions send to out-of-work Americans, to struggling industries and businesses, and to anxious financial markets throughout the world? Instead of stonewalling a budget, Senate Democrats should be working with Republicans to produce a budget that makes our economy as robust and dynamic as possible.
To put America back to work the Senate needs to get back to work. Blocking a budget under these economic circumstances is simply unthinkable. There is no quick fix, no accounting gimmick, no political trick that will solve these problems. Progress will be achieved through open, public debate and through the tried and true principles that have made our economy the envy of the world—restrained government, controlled spending, sound money, and free enterprise. Diligently pursued, these steps will not only prevent economic decline but create an exceptional future for our children.”
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With Economic Recovery Weakest In Modern History, Senate Democrats Deny Country Much-Needed Budget
[Note: To view a one-pager on debt and jobs, please click here.]“Our fast-rising debt, and our inability to adopt a credible budget plan, is shattering economic confidence and jeopardizing our future. Yet Senate Democrats refuse to put forward such a budget plan or to confront the debt that they themselves have surged... To put America back to work the Senate needs to get back to work.”
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, released the following statement today as troubling indicators continue to show that the economic recovery lags far behind previous ones. He noted that Senate Democrats are blocking action on a budget plan that could restore economic confidence, create jobs, and tackle the debt that has rapidly grown as a result of the president’s policies. Sessions also warned against the “siren call” of Keynesian economic policies:
“Several months ago, Treasury Secretary Tim Geithner testified before the Budget Committee and expressed his support for academic research showing that debt levels as high as ours severely weaken economic growth. For nearly three years the White House has been seduced by the vision of growth through artificial means—including trillions in fiscal stimulus and so-called 'investments.' By the end of this year we will have added $5 trillion to our gross debt since the president took office. But, predictably, Keynes' siren call did not lead us to paradise.
We have restored only 1/5 of the jobs lost in the recession, and are experiencing the weakest recovery in modern history. Unemployment is back up again and the housing market is back down. Our fast-rising debt, and our inability to adopt a credible budget plan, is shattering economic confidence and jeopardizing our future. Yet Senate Democrats refuse to put forward such a budget plan or to confront the debt that they
themselves have surged. The Democrat-led Senate hasn't passed a budget in 770 days. And the only plan submitted by the president—unanimously rejected by the Senate—is one that would double our gross debt in ten years while raising taxes dramatically. We are told the president has not even involved himself in discussions over the debt limit. What signal do these actions send to out-of-work Americans, to struggling industries and businesses, and to anxious financial markets throughout the world? Instead of stonewalling a budget, Senate Democrats should be working with Republicans to produce a budget that makes our economy as robust and dynamic as possible.
To put America back to work the Senate needs to get back to work. Blocking a budget under these economic circumstances is simply unthinkable. There is no quick fix, no accounting gimmick, no political trick that will solve these problems. Progress will be achieved through open, public debate and through the tried and true principles that have made our economy the envy of the world—restrained government, controlled spending, sound money, and free enterprise. Diligently pursued, these steps will not only prevent economic decline but create an exceptional future for our children.”
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