January 25, 2011
WASHINGTON, D.C. -
Following President Obama’s State of the Union address this evening, Senator Susan Collins released this statement:
“The 112th Congress will bring extraordinary challenges as we continue to work to improve our nation’s economy, lower the unemployment rate, seek both short-term and long-term ways to reduce federal spending to bring the federal debt under control, and debate a host of other important issues. I appreciate that the President called for members of both parties to work together to address these challenges.
“In the year ahead, the fiscal policies that the Administration and Congress undertake must tackle our spending problem, get the economy moving again, and put Americans back to work. I agree with the President that the top priority of the Administration and of Congress must be private sector job growth.
“Everywhere I travel in Maine, whether I’m talking to a machine shop owner, a trucking company operator, a small residential contractor, or other employers, I hear the same refrain: “Given the economic policies and regulations coming out of Washington, we don’t dare create any jobs, buy new equipment, or take any risks to grow our businesses.”
“The Administration’s policies have failed to stimulate private sector investment, which is the key to creating permanent jobs. In December, Republicans and Democrats worked together to extend the 2001 and 2003 tax relief laws for two years, preventing American families and businesses from facing what would have been one of the largest tax increases in U.S. history. This was a critical step in the right direction, but more must be done to make our country a better place to do business.
“Congress also must undertake comprehensive tax reform to make our system fairer, simpler, and to help ensure that our tax policies support growth for American companies to create new jobs.
“While it is encouraging that the President called for a five-year freeze on discretionary spending, achieving this goal will require the President to submit a budget that forcefully limits spending. That would be an abrupt but welcomed departure from the President’s previous budgets which doubled the federal debt in five years. We simply must rein in our spending and get our financial house in order. America’s out-of-control debt is a grave threat to our nation’s future prosperity. Our country has accumulated a massive debt totaling more than $14 trillion – and it’s growing. This trend threatens to extend our economic stagnation, puts our nation on an irresponsible financial path, and imposes unconscionable debt on our children and grandchildren. Our government has made promises and incurred obligations far greater than our ability to pay, and it is clear that we need to make some fundamental changes.
“The President must produce a budget this year that sets forth a specific plan for limiting spending. We could save billions of dollars, for example, by eliminating the taxpayer subsidy for corn-based ethanol, reducing price supports for large corporate farmers, and preventing the funding of an alternative jet engine that the Pentagon opposes.
“As we work to address these issues, I agree with the President that we should not be hindered by political partisanship. We must seek common ground and work together in the spirit of bipartisanship to get the job done.
“We are in the midst of an economic storm, and we have tough choices to make. We must reassess our national priorities and set a new course marked by fiscal responsibility. I am hopeful that the Administration will work with Congress to develop an effective plan to correct the government’s long-term fiscal imbalances and help drain the nation’s mounting sea of debt. That is the only way to get our nation, and its future, back on track."
“The 112th Congress will bring extraordinary challenges as we continue to work to improve our nation’s economy, lower the unemployment rate, seek both short-term and long-term ways to reduce federal spending to bring the federal debt under control, and debate a host of other important issues. I appreciate that the President called for members of both parties to work together to address these challenges.
“In the year ahead, the fiscal policies that the Administration and Congress undertake must tackle our spending problem, get the economy moving again, and put Americans back to work. I agree with the President that the top priority of the Administration and of Congress must be private sector job growth.
“Everywhere I travel in Maine, whether I’m talking to a machine shop owner, a trucking company operator, a small residential contractor, or other employers, I hear the same refrain: “Given the economic policies and regulations coming out of Washington, we don’t dare create any jobs, buy new equipment, or take any risks to grow our businesses.”
“The Administration’s policies have failed to stimulate private sector investment, which is the key to creating permanent jobs. In December, Republicans and Democrats worked together to extend the 2001 and 2003 tax relief laws for two years, preventing American families and businesses from facing what would have been one of the largest tax increases in U.S. history. This was a critical step in the right direction, but more must be done to make our country a better place to do business.
“Congress also must undertake comprehensive tax reform to make our system fairer, simpler, and to help ensure that our tax policies support growth for American companies to create new jobs.
“While it is encouraging that the President called for a five-year freeze on discretionary spending, achieving this goal will require the President to submit a budget that forcefully limits spending. That would be an abrupt but welcomed departure from the President’s previous budgets which doubled the federal debt in five years. We simply must rein in our spending and get our financial house in order. America’s out-of-control debt is a grave threat to our nation’s future prosperity. Our country has accumulated a massive debt totaling more than $14 trillion – and it’s growing. This trend threatens to extend our economic stagnation, puts our nation on an irresponsible financial path, and imposes unconscionable debt on our children and grandchildren. Our government has made promises and incurred obligations far greater than our ability to pay, and it is clear that we need to make some fundamental changes.
“The President must produce a budget this year that sets forth a specific plan for limiting spending. We could save billions of dollars, for example, by eliminating the taxpayer subsidy for corn-based ethanol, reducing price supports for large corporate farmers, and preventing the funding of an alternative jet engine that the Pentagon opposes.
“As we work to address these issues, I agree with the President that we should not be hindered by political partisanship. We must seek common ground and work together in the spirit of bipartisanship to get the job done.
“We are in the midst of an economic storm, and we have tough choices to make. We must reassess our national priorities and set a new course marked by fiscal responsibility. I am hopeful that the Administration will work with Congress to develop an effective plan to correct the government’s long-term fiscal imbalances and help drain the nation’s mounting sea of debt. That is the only way to get our nation, and its future, back on track."
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