Statement by Herman Cain on Debt Ceiling Negotiations

(Stockbridge, GA)- Republican presidential candidate and longtime business leader Herman Cain responded to recent debt ceiling negotiations, saying:

"The American people know that now is not the time to raise taxes on America's job creators and their employees. They know that government does not have a revenue problem, but instead, a spending problem.

Still, President Obama has been plenty specific on tax hikes he's eager to impose upon the American people, but he has remained awfully vague about where he'd rein in government spending.

If the President and Congress fail to reach a compromise, it is not because the Republicans were not serious about cutting spending. It is because President Obama was not interested in a compromise that did not include taking more from the American people in the form of tax hikes.

We've had enough press conferences and summits. What we need now is mature leadership, and that means making tough decisions to protect the financial future of this country."