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Transcript of Rep. Paul Ryan’s remarks



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It went to companies like Solyndra, with their gold-plated connections, subsidized jobs, and make-believe markets. The stimulus was a case of political patronage, corporate welfare, and cronyism at their worst. You, the working men and women of this country, were cut out of the deal.

What did the taxpayers get out of the Obama stimulus? More debt. That money wasn’t just spent and wasted— it was borrowed, spent, and wasted.

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Maybe the greatest waste of all was time. Here we were, faced with a massive job crisis - so deep that if everyone out of work stood in single file, that unemployment line would stretch the length of the entire American continent. You would think that any president, whatever his party, would make job creation, and nothing else, his first order of economic business.

But this president didn’t do that. Instead, we got a long, divisive, all-or-nothing attempt to put the federal government in charge of health care.

Obamacare comes to more than two thousand pages of rules, mandates, taxes, fees, and fines that have no place in a free country.

The president has declared that the debate over government-controlled health care is over. That will come as news to the millions of Americans who will elect Mitt Romney so we can repeal Obamacare.

And the biggest, coldest power play of all in Obamacare came at the expense of the elderly.

You see, even with all the hidden taxes to pay for the health care takeover, even with new taxes on nearly a million small businesses, the planners in Washington still didn’t have enough money. They needed more. They needed hundreds of billions more. So, they just took it all away from Medicare. Seven hundred and sixteen billion dollars, funneled out of Medicare by President Obama. An obligation we have to our parents and grandparents is being sacrificed, all to pay for a new entitlement we didn’t even ask for. The greatest threat to Medicare is Obamacare, and we’re going to stop it.

In Congress, when they take out the heavy books and wall charts about Medicare, my thoughts go back to a house on Garfield Street in Janesville. My wonderful grandma, Janet, had Alzheimer’s and moved in with Mom and me. Though she felt lost at times, we did all the little things that made her feel loved.

We had help from Medicare, and it was there, just like it’s there for my mom today. Medicare is a promise, and we will honor it. A Romney-Ryan administration will protect and strengthen Medicare, for my mom’s generation, for my generation, and for my kids and yours.


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So our opponents can consider themselves on notice. In this election, on this issue, the usual posturing on the left isn’t going to work. Mitt Romney and I know the difference between protecting a program, and raiding it. Ladies and gentlemen, our nation needs this debate. We want this debate. We will win this debate.

Obamacare, as much as anything else, explains why a presidency that began with such anticipation now comes to such a disappointing close.

It began with a financial crisis; it ends with a job crisis.

It began with a housing crisis they alone didn’t cause; it ends with a housing crisis they didn’t correct.

It began with a perfect Triple-A credit rating for the United States; it ends with a downgraded America.

It all started off with stirring speeches, Greek columns, the thrill of something new. Now all that’s left is a presidency adrift, surviving on slogans that already seem tired, grasping at a moment that has already passed, like a ship trying to sail on yesterday’s wind.

President Obama was asked not long ago to reflect on any mistakes he might have made. He said, well, "I haven’t communicated enough." He said his job is to "tell a story to the American people"— as if that’s the whole problem here? He needs to talk more, and we need to be better listeners?

Ladies and gentlemen, these past four years we have suffered no shortage of words in the White House. What’s missing is leadership in the White House. And the story that Barack Obama does tell, forever shifting blame to the last administration, is getting old. The man assumed office almost four years ago— isn’t it about time he assumed responsibility?

In this generation, a defining responsibility of government is to steer our nation clear of a debt crisis while there is still time. Back in 2008, candidate Obama called a $10 trillion national debt "unpatriotic"— serious talk from what looked to be a serious reformer.

Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.

He created a bipartisan debt commission. They came back with an urgent report. He thanked them, sent them on their way, and then did exactly nothing.

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