Rep. Paul Ryan: ‘President Says We’re In Recovery; I'd Say We’re in Critical Care’
(CNSNews.com) – Rep. Paul Ryan (R-Wis.), chairman of the House Budget Committee, told conservatives at the Conservative Political Action Conference on Friday in suburban Washington, D.C., that President Barack Obama’s description of the U.S. economy is flawed.
“The president says we’re in recovery,” Ryan said. “I'd say we’re in critical care.”
As reported earlier by CNSNews.com, a record 89,304,000 Americans are no longer in the workforce and 296,000 fewer Americans have been employed since January.
According to the Bureau of Labor Statistics, unemployment has not dropped under seven percent since Obama has been president. The unemployment rate when Obama took office was 7.8 percent, and the lowest rate in four years was posted last month when it dropped one tenth of one percent to 7.7 percent.
At CPAC, Ryan spoke about his budget proposal, which would balance the federal budget in 10 years without raising taxes.
He said the budget introduced by the Senate this week will increase spending and add to the national debt over the next decade.
“The debt will weigh down the country like an anchor,” Ryan said.
CNSNews.com also reported on the increase of the national debt under Obama.
The debt of the federal government increased by $6 trillion during the time that has been president, according to the U.S. Treasury.
At the close of business on Jan. 20, 2009, the day Obama was first inaugurated, the debt of the federal government was $10 trillion. At the close of business on Thursday, Feb. 28, the debt of the federal government hit $16 trillion.