WASHINGTON, DC- House Democratic Caucus Chairman James E. Clyburn today responded to the president’s comments on the economy. Following is his statement:

"The president is showing just how out of touch he is today by marking one of the largest budget deficits in history with celebration. The American people are in trouble when their president considers record budget deficits, reckless spending and stagnant wages part of a successful economic policy.

Democrats offer a New Direction which includes fiscal responsibility, balanced pay-as-you-go budgeting and targeted tax cuts to help all American families. We will make college tuition permanently tax deductable, we will provide a long-term solution to protect middle-income families from the AMT, and we will improve the child tax credit to make it work better for working families."