"Our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."
S&P downgraded the US, in part, because of a revised expectation that the Bush tax cuts would remain in place. They assumed this because of Republicans' unwillingness to enact any measures raising revenue, and they completely slammed House Republicans--including Paul Ryan--for doing so.
So here we are, $16 trillion in debt and still he does nothing. In Europe, massive debts have put entire governments at risk of collapse, and still he does nothing. And all we have heard from this president and his team are attacks on anyone who dares to point out the obvious. They have no answer to this simple reality: We need to stop spending money we don't have.
Very simple. Not that hard. Before the math and the momentum overwhelm us all, we are going to solve this nation's economic problems.
You, the American people, were cut out of the deal. What did taxpayers get out of the Obama stimulus? More debt. That money wasn't just spent and wasted, it was borrowed, spent and wasted.
Instead of managing American decline, leaving allies to doubt us and adversaries to test us, we will act in the conviction that the United States is still the greatest force for peace and liberty that this world has ever known.
Now when I was waiting tables, washing dishes, or mowing lawns for money, I never thought of myself as stuck in some station in life. I was on my own path, my own journey, an American journey, where I could think for myself, decide for myself, define happiness for myself. That is what we do in this country. That is the American dream. That's freedom and I will take it any day over the supervision and sanctimony of the central planners.
ObamaCare comes to more than 2,000 pages of rules, mandates, taxes, fees and fines that have no place in a free country. You know what? The president has declared that the debate over government controlled health care is over. That will come as news to the millions of American who will elect Mitt Romney so we can repeal Obama Care.
An obligation we have to our parents and grandparents is being sacrificed, all to pay for a new entitlement we didn't even ask for. The greatest threat to Medicare is Obama Care and we're going to stop it.
Medicare is a promise and we will honor it. A Romney-Ryan Administration with protect and strengthen Medicare for my mom's generation, for my generation and for my kids and yours.
We have a plan for a stronger middle class, with the goal of generating 12 million new jobs over the next four years. In a clean break from the Obama years, and frankly from the years before this president, we will keep federal spending at 20% of GDP, or less. Because that is enough.
The choice--the choice is whether to put hard limits on economic growth, or hard limits on the size of government, and we choose to limit government.
I live on the same block where I grew up. We belong to the same parish where I was baptized. Janesville is that kind of place. The people of Wisconsin have been good to me. I've tried to live up to their trust. And now, I ask those hardworking men and women and millions like them across America to join our cause and get this country working again.
"I remember Pres. Obama visiting it when he was first running, saying he'll keep that plant open," Ryan said, recounting the fact that his high school friends worked at the GM assembly plant. "One more broken promise. We used to build Tahoes and Suburbans. One of the reasons that plant got shut down was $4 gasoline. You see, the president's terrible energy policies are costing us jobs."
In fact, the plant halted production in December 2008, when Pres. Bush was in office.GM cited the low demand for SUVs and high gas prices during the Bush administration as the reason for closing the plant.
Obama did speak at the plant in Feb. 2008, and suggested that a government partnership with automakers could keep the plant open, but made no promises as Ryan suggested.
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The above quotations are from Speeches at the 2012 Republican National Convention in Tampa FL, Aug. 28-31, 2012.
Click here for other excerpts from Speeches at the 2012 Republican National Convention in Tampa FL, Aug. 28-31, 2012. Click here for other excerpts by Paul Ryan. Click here for a profile of Paul Ryan.
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