Paul Ryan: President Obama Is Bringing Us Closer to a Debt Crisis Like the One in Europe

During a speech on Tuesday, President Obama said that Mitt Romney and Republicans don’t know how to get the economy back on track. Congressman Paul Ryan shared some reaction to President Obama’s comments on today’s Fox and Friends.

Ryan said, “President Obama is promising one of the largest tax increases starting in January and we wonder why small businesses aren’t creating jobs?” Ryan believes that Mitt Romney will fix this problem on day one of his presidency, should he be elected, by repealing the red tape that’s choking off jobs and ending our recovery, repealing Obamacare, lowering tax rates, announcing a five percent spending cut on government agency budgets and by approving the Keystone Pipeline.

“We have still a chance in America to turn this around

and get back to economic prosperity. We have a window of opportunity to get through this, but if we lose it, in the next two years, we could have our own debt crisis just like they’re experiencing in Europe, and President Obama is bringing us toward that kind of a moment.”

In discussing America’s deficit, Ryan told Fox and Friends, “The deficit was going to come down after the 2008 crisis occurred. President Obama propped it up with stimulus spending ... So, the president gave us a spending increase where the government grew to the highest that it’s been since World War II.”

He added, “America can grow, we have just got to get rid of the barriers that are preventing it from growing and now its these partisan obstacles: the president, the Senate and the disastrous policies they’ve been persuing that are hurting and holding our economy back.”