Hard Work, Sound Investment, Lower Taxes, and Less Debt

Floor Speech

HARD WORK, SOUND INVESTMENT, LOWER TAXES, AND LESS DEBT -- (House of Representatives - March 25, 2009)

(Mr. CASSIDY asked and was given permission to address the House for 1 minute.)

Mr. CASSIDY. Mr. Speaker, in times of hardship, leaders must inspire hope; and, to his credit, President Obama inspires hope. But without planning, reason, and a sense of what works, inspired hope can be a hoax. History in economics demonstrates that the path to prosperity is hard work, sound investment, lower taxes, and less debt. Whether in a family business or government, debt imprisons.

In the short term, debt can elevate the standard of living; but if income grows slower than debt, debt destroys that standard of living. And my fear is that the trillions in debt that the President is creating will swallow economic growth and destroy that standard of living. Our economic future will be pawned, our future in debtor's prison.

The President is ambitious and impatient, but I ask that his ambition not deafen him to the lessons of history and economics. I ask him to inspire hope not just for the present, but also for the future.

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