WASHINGTON, D.C. – Congressman Eric Cantor (VA-07) today issued the following statement on the House Budget Committee markup of Republicans' Fiscal Year 2012 Budget Resolution:
"Chairman Paul Ryan and the House Budget Committee have taken an important step to put our country on a path to fiscal solvency by marking up our budget for the coming fiscal year. This honest, fact-based proposal puts in place pro-growth policies that will foster economic growth and leads where the President and Congressional Democrats have failed by addressing our fiscal challenges head-on. I look forward to the House passing this budget next week so we can begin solving the long-term fiscal challenges facing our country.
"The federal government borrows nearly 40 cents of every dollar that it spends, and is over $14 trillion in debt. We cannot keep spending money that we don't have. Despite his rhetoric, President Obama has offered no plan to deal with America’s debt crisis. Leader Reid doesn’t even seem to acknowledge there is a debt crisis in America. The President's inaction is more than just a failure of leadership, it actively jeopardizes America's economic well being.
“In stark contrast, House Republicans will lead where the President has failed by reducing spending and providing common sense solutions to strengthen our entitlement programs to preserve benefits for today's seniors and boost this safety net for future generations. We have put forward a budget plan that will eliminate the debt over time and does so without raising taxes. Families and business owners cannot afford more taxes and big-government spending. Republicans will hold firm to make sure that Washington begins to live within its means so that we can continue our focus on growing the economy, creating jobs and getting people back to work.
"We are working to save this country, but we can’t do it alone. Mr. President, America is going broke - what are you doing about it?"