John Cornyn: “I will be brief because I know we have other speakers on the floor. This is all we need to know about the budget that…”

“I will be brief because I know we have other speakers on the floor. This is all we need to know about the budget that was voted out of the Budget Committee, along party lines, with Democrats carrying the day: It would raise spending by about 60 percent, it would raise taxes by $1.5 trillion, it would increase our national debt by $7.3 trillion, and--this is the most important part--it would never ever, ever balance. That is the exact opposite of what America needs to get our economy moving again and get a handle on our long-term finances. We have already reached a point where the Federal spending levels are unsustainable. We all know that. We have already reached a point where our national debt is exerting a drag on our economy. I read the other day the President said there is no risk of an immediate debt crisis. We can debate that. But what we cannot debate is that our national debt is so big that it is dragging down economic growth, crushing job creation, and resulting in a loss of hope and certainly a loss of opportunity for 23 million Americans who are out of work or who are working part time and who want to get back to work and provide for their families. We also know, according to the Bureau of Labor Statistics, that an unprecedented--or at least in the last 30 years--number of Americans have just simply given up looking for work. They have been so discouraged that the labor participation rate is at a 32-year low.…”