Less than a week after increasing the national debt by $1 trillion, the White House is planning to host the first "Fiscal Responsibility Summit."

The inmates are running the asylum.

Republican lawmakers are hoping President Obama comes to his senses and hits the "reset" button on his disastrous economic policies.

"Republicans and Democrats agree that the American people deserve a secure retirement, including affordable health care they can count on, U.S. Rep. Dave Camp, R-Mich. "But we all know that vital programs like Medicare and Social Security face serious financial challenges as Baby Boomers get older, people live longer lives and families have fewer children. Republicans genuinely want to work with the President to solve these problems - in a responsible way that does not burden our children and grandchildren with a mountain of debt.

Read the full transcript of the GOP's weekly radio address below:

Congressman Dave Camp (MI-04) Delivers Weekly Republican Address