The tax increases and the deficit spending you propose will hurt middle class families. It will cost them their raises. It will cost them their benefits. It may even cost some of them their jobs.
And it will hurt seniors because it does nothing to save Medicare and Social Security.
So Mr. President, I don’t oppose your plans because I want to protect the rich. I oppose your plans because I want to protect my neighbors.
Hard-working middle class Americans who don’t need us to come up with a plan to grow the government. They want a plan to grow the middle class.
Economic growth is the best way to help the middle class. Unfortunately, our economy actually shrank during the last three months of 2012.
But if we can get the economy to grow at just 4 percent a year, it would create millions of middle class jobs. And it could reduce our deficits by almost $4 trillion dollars over the next decade.
Tax increases can’t do this. Raising taxes won’t create private sector jobs. And there’s no realistic tax increase that could lower our deficits by almost $4 trillion. That’s why I hope the President will abandon his obsession with raising taxes and instead work with us to achieve real growth in our economy.
One of the best ways to encourage growth is through our energy industry. Of course solar and wind energy should be a part of our energy portfolio. But God also blessed America with abundant coal, oil and natural gas. Instead of wasting more taxpayer money on so-called “clean energy” companies like Solyndra, let’s open up more federal lands for safe and responsible exploration. And let’s reform our energy regulations so that they’re reasonable and based on common sense. If we can grow our energy industry, it will make us energy independent, it will create middle class jobs and it will help bring manufacturing back from places like China.
Simplifying our tax code will also help the middle class, because it will make it easier for small businesses to hire and grow.
And we agree with the President that we should lower our corporate tax rate, which is one of the highest in the world, so that companies will start bringing their money and their jobs back here from overseas.
We can also help our economy grow if we have a legal immigration system that allows us to attract and assimilate the world’s best and brightest. We need a responsible, permanent solution to the problem of those who are here illegally. But first, we must follow through on the broken promises of the past to secure our borders and enforce our laws.
Helping the middle class grow will also require an education system that gives people the skills today’s jobs entail and the knowledge that tomorrow’s world will require.
We need to incentivize local school districts to offer more advanced placement courses and more vocational and career training.
We need to give all parents, especially the parents of children with special needs, the opportunity to send their children to the school of their choice.
And because tuition costs have grown so fast, we need to change the way we pay for higher education.
I believe in federal financial aid. I couldn’t have gone to college without it. But it’s not just about spending more money on these programs; it’s also about strengthening and modernizing them.
A 21st century workforce should not be forced to accept 20th century education solutions. Today’s students aren’t only 18 year olds. They’re returning veterans. They’re single parents who decide to get the education they need to earn a decent wage. And they’re workers who have lost jobs that are never coming back and need to be retrained.
We need student aid that does not discriminate against programs that non-traditional students rely on – like online courses, or degree programs that give you credit for work experience.
When I finished school, I owed over 100,000 dollars in student loans, a debt I paid off just a few months ago. Today, many graduates face massive student debt. We must give students more information on the costs and benefits of the student loans they’re taking out.
All these measures are key to helping the economy grow. But we won’t be able to sustain a vibrant middle class unless we solve our debt problem.
Every dollar our government borrows is money that isn’t being invested to create jobs. And the uncertainty created by the debt is one reason why many businesses aren’t hiring.
The President loves to blame the debt on President Bush. But President Obama created more debt in four years than his predecessor did in eight.
The real cause of our debt is that our government has been spending 1 trillion dollars more than it takes in every year. That’s why we need a balanced budget amendment.
The biggest obstacles to balancing the budget are programs where spending is already locked in. One of these programs, Medicare, is especially important to me. It provided my father the care he needed to battle cancer and ultimately die with dignity. And it pays for the care my mother receives now.
I would never support any changes to Medicare that would hurt seniors like my mother. But anyone who is in favor of leaving Medicare exactly the way it is right now, is in favor of bankrupting it.