Senator Mike Lee Reacts to President Obama's Speech

Following the President's speech before a joint session of Congress, Senator Lee responded with a short video voicing his disappointment in the President simply calling for more of the same failed policies. http://www.youtube.com/watch?v=DrFT4wOM-B4

Before the speech, Lee outlined five steps he believed the President should have called for; a balanced budget amendment, sound monetary policies, regulatory reform (including a moratorium on all new regulations), tax reform, and removing bureaucratic barriers to allow the development of America's energy resources.

WASHINGTON - Today, Senator Mike Lee outlined several policy proposals that he would like to see the President support in his speech on Thursday night.
 
“The President’s agenda for the past two and half years has been a failure. From persistent unemployment to the first credit downgrade in our country’s history, President Obama’s economic policies are making Americans worse off.  For the good of the country, the President should advocate proposals that will get the federal government off the backs of the country’s job creators and incentivize investment in our economy.”
 
Senator Lee noted five objectives the President should support in his speech:

• Structural, binding spending reforms, such as a balanced budget amendment to the constitution, that would reduce the national debt and end the practice of perpetual deficit spending
• Support for sound monetary policy that will prevent further collapse of the dollar, including opposing another round of quantitative easing and additional bailouts of failing banks
• Regulatory reform, including a moratorium on all new regulations until the unemployment rate reaches 7.7% (S. 1438, the Regulation Moratorium and Job Preservation Act sponsored by Sen. Ron Johnson (WI))
• Reforming the tax code to make American businesses more competitive and put more money in the hands of consumers and investors
• Accelerating development of America’s energy resources by reducing delays and bureaucratic hurdles

“The President has asked to speak directly to Congress on Thursday night. If he continues to push more spending, more borrowing, and more debt, it will be a wasted opportunity.  I sincerely hope that will not be the case.”

Don't forget, you can join Senator Lee during the Washington reception at LPAC 2011!