Jeb Hensarling actually said...

To fund current policy, as you know, is going to require a doubling of the tax burden on future generations.

To create jobs, the Administration needs to get serious about finalizing trade agreements, reforming the Tax Code, and fostering regulatory ...

the Congressional Budget Office estimates a $1.48 trillion deficit for Fiscal Year 2011 at roughly 10 percent of GDP.

Unfortunately, in the President's announcement he seems to exempt from the ambit of regulatory review both Dodd-Frank and ObamaCare.