Weekly Addresses 4/16/11

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America's Fiscal Future
The President discusses his plan for our fiscal future. It is a comprehensive and balanced approach to achieve $4 trillion in deficit reduction over twelve years, based on the values of shared responsibility and shared prosperity.
Sen. Tom Coburn (R-OK) Delivers Weekly GOP Address On The Debt Crisis
In the Weekly Republican Address, Sen. Tom Coburn, MD, of Oklahoma discusses the historic spending cuts Republicans passed this week and the problems with President Obama's approach to spending and debt. Sen. Coburn says, "This was a historic week in Washington. For the first time in more than 15 years, Congress, under the leadership of House Republicans, is making significant spending cuts. While these cuts aren't nearly enough, the American people should be encouraged. You have fundamentally changed the debate in Washington. Instead of increasing spending, Congress is now cutting spending. That is a monumental shift for Washington." In response to President Obama's speech, Sen. Coburn says, "Unfortunately, the president failed to put a serious proposal on the table... Entitlement spending alone accounts for more than 80 percent of our long-term debt burden but the president's plan exempts these programs from reform. By pretending that Medicare and Medicaid and Social Security are sound financially when they are not, the president is jeopardizing the benefits for the very Americans he says he wants to protect. He also proposed expanding his failed health care law that will cost Americans now over $2.6 trillion between now and the next 10 years. That makes our debt problem much more difficult to solve. The president wants to strengthen a board of unaccountable Medical Czars and give them more power to impose price controls and ration care." In contrast, Sen. Coburn points out, "House Budget Committee Chairman Paul Ryan, who seemed to be the real target of the president's speech, has charted a different course. His plan, which saves $6.2 trillion over ten years, outlines a path to prosperity, not austerity. He would save Medicare by giving all beneficiaries, beginning with those now under 55, access to high-quality health plans, similar to the plans that members of Congress enjoy. Also under Mr. Ryan's plan, Medicaid's safety net for the poorest patients would be strengthened by transitioning to block grants that empower states to provide care."