President's record not one to be proud of
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| September 2, 2012 |
This week the
Department of Labor will release its report on
unemployment in the United States. This report
is a candid look at whether the policies of the
Obama administration have worked to help
Americans find employment or whether they have
done just the opposite. Unfortunately, the
president’s record is nothing to be proud of.
Since he took office 44 months ago unemployment
has consistently remained between eight and ten
percent, millions of Americans are out of work,
and many have given up hope and quit looking for
jobs. People have increasingly struggled to make
ends meet and the growth of the economy has
slowed significantly. This dismal reality did
not come by accident but is the product of
failed fiscal policies.
Almost immediately after assuming office
President Obama pushed for a massive expansion
of government spending in the form of a
stimulus. The stimulus, known as the American
Recovery and Reinvestment Act, was designed to
pump more than $800 billion into the economy in
the hope that jobs would be created and the
rising unemployment rate would reverse itself.
Despite promises that unemployment would fall
below eight percent by the end of 2010,
unemployment instead rose above nine percent.
After four years of trying to spend our way out
of a recession, we have higher unemployment, a
down-graded credit score, and $5 trillion in new
debt.
Overspending in Washington is costing Americans
their jobs and their stable futures. Having a
job means having security. It alleviates worries
about paying the mortgage and being able to put
food on the table. The prevailing attitude in
Washington about overspending was best captured
by Ronald Reagan in his first inaugural address:
“You and I, as individuals, can, by
borrowing, live beyond our means, but for only a
limited period of time. Why, then, should we
think that collectively, as a nation, we are not
bound by that same limitation?”
In order to create jobs we must have a robust
economy. To have a robust economy, businesses
must feel confident about investing. They must
be released from the burdensome regulations and
looming tax hikes that accompany Obamacare.
The uncertainty created by the president’s
irresponsible fiscal policies has caused
businesses across the country to sit on roughly
$1.8 trillion of their money rather than invest
it in new jobs and the economy. One of their
primary concerns is the climate surrounding
taxes. The country is headed for a tax hike on
January 1, 2013, of nearly $500 billion which
will hinder these companies’ ability to do
business and create jobs.
The negative effect that raising taxes and
introducing new regulations will have on the
unemployed cannot be stressed enough. Recent
estimates from the non-partisan Congressional
Budget Office predict that if the government
fails to act on the looming tax hikes set to
take effect next year the country will be headed
into another recession. This is the last thing
Americans need when they are desperately
searching for work.
Living within our means as a country is key to
our prosperity. The ability of our friends and
neighbors to find work and build futures for
themselves and their families depends on it.
With responsible and realistic fiscal policies,
we can halt the rising unemployment rate and get
America working again. Government doesn’t create
jobs, and it’s time for government to step aside
and let the business and individuals who drive
our economy take the wheel once more. |
Raul Labrador
U.S. Congress
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