John Cornyn: “earlier today our colleague from Washington State indicated that President Obama and the Democratic leadership in…”

“earlier today our colleague from Washington State indicated that President Obama and the Democratic leadership in Congress are willing to accept the largest tax increase in American history and a series of crippling defense cuts unless Republicans will agree to raise taxes significantly falling on the very people we are counting on to get our economy going again and to create jobs. I wish to say just a few words in response. First of all, Senators on both sides of the aisle understand that a massive tax increase could well push our economy back into a recession. Senators on both sides of the aisle understand that it would suffocate our investments that are so important to business creation and job growth. Senators on both sides of the aisle understand that middle-class families are already struggling with high unemployment and wage stagnation. And Senators on both sides of the aisle understand that we are living through the weakest economic recovery since the Great Depression. Yet President Obama and his party seem obsessed with raising taxes on the very people who are responsible for most of that new job creation. Led by the President, these same people are demonizing business owners and demanding that they be punished, while simultaneously demanding that these same people create jobs. It is no wonder that so many Americans are concerned about the future of the U.S. economy.…”