GOP Weekly Address 7/14/2012 We Are Going Broke Thanks To President Obama

“In the face of 41 straight months of unemployment above 8 percent, President Obama is calling for a tax hike on nearly a million business owners. In the Weekly Republican Address, U.S. Sen. Rob Portman (R-Ohio) says there’s a better path forward: “The way to an American economic comeback, the way to help those out of work today find a paycheck, is to unleash the forces of job creation in America.” Portman calls for comprehensive tax reform, debt reduction, scaling back burdensome regulations and increasing domestic energy production. “The government-knows-best approach of the past few years has given us the weakest economic recovery since the Great Depression. It’s time to turn things around. We know we can restore America’s greatness by harnessing the power of free people and free enterprise,” he says.” According to Portman, “President Obama increased government spending and borrowing — to levels we’ve never seen before. On his watch, the national debt has grown to a record $16 trillion — making it larger than our entire economy. We need to face facts: we’re going broke. Washington is racking up debts that are being passed on to our kids and our grandkids. If we continue at this pace, we’ll be the first generation of Americans to leave the next generation worse off than us. That’s wrong. It’s unfair. And it has to change.” Portman said that “instead of focusing on growing jobs and reigniting our economy, President Obama focused on growing government and tried to remake the United States into the image of the debt-laden countries of Europe.”