Cornyn: CBO Report Confirms President's Budget Would Bury Future Generations In Insurmountable Debt

Press Release

Cornyn: CBO Report Confirms President's Budget Would Bury Future Generations In Insurmountable Debt

U.S. Sen. John Cornyn, R-Texas, a member of the Senate Budget Committee, today issued the following statement regarding the release of the Congressional Budget Office's analysis of the President's Fiscal Year 2010 budget, which indicates that the President's plan will raise our national debt to unsustainable levels:

"Today's report from the nonpartisan Congressional Budget Office is further evidence that this Administration needs to get its priorities straight. The report confirms that the President's budget would double the public debt in five years and nearly triple it in ten years. President Obama's policies will bury future generations under an insurmountable mountain of debt. President Obama hopes to borrow-and-spend-and-borrow some more our way to prosperity, but this report proves that this not only won't work, it will make matters worse. Our nation needs leaders that will make the tough choices necessary to severely reduce wasteful Washington spending and reduce deficits. If we do not, we stand the chance of sending our nation into chapter 11 bankruptcy.

"President Obama and his team need to roll up their sleeves and get serious about doing that which the American people elected them to do. Our nation and our economy demand and deserve a President who is more concerned with doing the work of the people and less concerned with media tours and basketball pools.

"The political campaign is over. The American people need the President back in Washington working for them, not soaking up sunshine in southern California."

Source