WASHINGTON, DC – Rep. Pete Olson (TX-22) today issued the following statement regarding his vote against the so-called "fiscal cliff" plan:

"President Obama's abject failure to lead America out of this dangerous fiscal crisis impacts every American. We face a debt crisis of epic proportions - one that will leave a legacy of debt for our children and grandchildren to struggle to pay off. If we do nothing, this crisis almost guarantees our children have no hope of achieving a better life than we have had. That is counter to the very notion of the American dream.

"President Obama and the Senate refuse to take the necessary steps to restore our nation's fiscal future. The fiscal cliff is not the real crisis: runaway spending is. Today, each American's share of our national debt is $51,000. Obama has no plan to fix this crisis.

"The Senate passed bill not only hikes taxes, but utterly fails to address the rampant spending problem our nation faces. The only way to fix this fiscal crisis is through economic growth and spending cuts. This bill contains no spending cuts and will hurt economic growth for small businesses. While some may disagree, I have listened to the people of Texas 22, and I cannot in good conscience support a bill that merely gives the President more money for his reckless spending. As painful as the cliff may be, it is better than adding fuel to this fiscal bonfire.

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