WASHINGTON, D.C. – U.S. Senator John Cornyn (R-TX) spoke on the Senate floor Tuesday previewing President Obama’s speech on the economy.
Excerpts of his remarks are below:
“The president, when he came to office … his party controlled all branches of the legislative and executive branch; he got virtually everything he wanted. He got $1 trillion stimulus package. He wanted a government takeover of America’s health care system and that’s what he got. He wanted extensive new regulations for the financial industry, and he got that, too. He wanted to impose, through the Environmental Protection Agency, radical environmental regulations, and that’s what he got as well.
“That was their great experiment, to see whether a growing and intrusive and expanding federal government was the answer to our economic challenges and high unemployment. But we now know what the results have been.
“Add it all up, and we’ve been experiencing the weakest economic recovery in the longest period of high unemployment since the Great Depression in the 1930’s.
“Even by the president’s own measuring stick, by his own standards, his economic record has been a huge disappointment. Hence, his repetitive pivots to the economy time and time again, particularly at a time when his administration is having to answer a lot of hard questions about various scandals.
“I’m afraid if we continue with the policies of the last four years, we will create a lost generation of young Americans who cannot find good, full-time jobs. None of us — Republicans, Democrats alike — none of us want that to happen.”