Published: 02-25-09
WASHINGTONU.S. Sen. John Cornyn R-Texas a member of the Senate Finance Committee issued the following statement regarding President Obamas Address to Congress:
I applaud the President for his commitment to building a more honest responsible and open government and I stand ready to assist him to that end.
During his first month in office the President has made himself available to members of Congress on both sides of the aisle and I hope that spirit of bipartisanship will continue. Working together by incorporating ideas from both parties is the only way we can begin to tackle the critical challenges that face our nation including the economy runaway Washington spending the housing market health care reform and energy.
Tonight President Obama reiterated his goal to cut the nations deficit in half by the end of his first term. While it is a laudable goal and an important first step I believe we must set our sights even higher if we are truly going to deliver the nation from its dangerous debt level. Our goal should be to deal with the federal governments unfunded liabilities in their entirety which today total roughly $67 trillion. Thats $220000 in debt for every Texan and every American. Its a figure that will only continue to grow every year that we fail to reform the nations entitlement system and fail to pay down our debts.
I would have liked to hear President Obama discuss these broader further-reaching problems that will load our children and grandchildren down in a mountain of debt if we do not act soon. I agree with him that we need to be more honest more transparent and more responsible; to accomplish this we must first take a hard look at the whole picture and be realistic with the American people about what is really required to ensure lasting prosperity and long-term financial security."
