On the recordMarch 28, 2012
To be clear, we owe over $15 trillion in national debt. This year we're going to borrow $1.3 trillion and a couple of years before that. Every year we've borrowed $1 trillion. And I hear my friends across the aisle talk about a balanced approach. I believe the American people want a balanced budget. I think we need to be clear on what the Democrat proposals are. If you look at what my friends across the aisle have proposed in regard to a budget, it never balances. There are deficits and debt as far as the eye can see. The President's budget, there are debts and deficits as far as the eye can see. It never balances. Then we look at the Democrat-controlled Senate. For 3 years they haven't passed a budget. And so I think the American people want honesty. They want to make sure that the Democrats are honest with regard to how much debt we're going to pass off to our next generation. {time} 1700 They want us to be honest with regard to how much debt the Democrats want the Chinese to buy from America. I think they want us to be honest in regard to tax rates that, as of April 1, America is going to have the highest tax rate in the industrialized world. My Democrat friends across the aisle, they want to raise taxes even further. So when a business is looking at where it's going to invest, is it going to be in America or somewhere else? Or if you're looking at investing in America or somewhere else, they look at tax rates.…
