My Fellow Americans:
It’s time to bite the bullet.
I’ve decided not to extend the Bush tax cuts or unemployment benefits. All we’re doing is running up our debt and that will hurt us more in the long run than a tax increase for everyone will hurt us in the short run.
We’ve lived too long on credit in this country; it must stop now.
I have decided to dedicate my presidency to reducing the federal debt. I embrace the Bowles-Simpson deficit-reduction proposals and will work with them and others who want to reduce our long-term debt and end tax loopholes.
Finally, I will not seek re-election. Everyone in Washington seems to focus on the next election. Bad decisions are made because of that. Because of the election cycle, we’d endured minimum oversight of our economy and maximum greed.
I want to focus on what’s best for the country. Lowering our debt and simplifying our tax code are two worthy goals. Let us together move forward toward those goals.
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