Cornyn blames Obama for creating a 'generation debt'

Cornyn’s comment came a day ahead of Obama’s speech on the economy and jobs.

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The Texas senator said Obama’s policies on healthcare, government spending and even student loans have harmed younger generations.

“Is it any wonder that only one out of every five recent college graduates say their generation will be more successful than the one ahead of them?” he said. “As a result of the failed policies we’ve seen over the past five years, recent college graduates believe they will have less opportunity and prosperity as those before them.”

Cornyn said Democratic lawmakers have forgotten the “secret sauce” of a growing economy. He called for lower taxes and fewer federal regulations as a way to stimulate the economy.

“[Obama] should abandon the policies that have saddled young people with so much debt,” Cornyn said. “In short, it’s time to replace the Obama model with the Texas model.”

After Cornyn’s remarks, Sen. Dick Durbin (D-Ill.) defended Obama’s policies, particularly ObamaCare, also known as the Affordable Care Act, and student loans.

Durbin questioned if Republicans calling for a full-repeal of ObamaCare truly wanted to end policies that protect people with preexisting conditions and those younger than 26 who now get to stay on their parents’ health insurance. He also said Obama was not to blame for the current student loan rate or the large amount of debt students incur from going to college.