Public, Economists Call for New Approach to Aid “Sluggish,” “Sputtering” Economy – and Republicans Offer One
Today, the Labor Department released its monthly jobs report showing that in the month of August, 54,000 jobs were lost and the unemployment rate increased to 9.6 percent. Today’s report marks the 16th consecutive month of job losses.
In June, Vice President Joe Biden took to the podium at the White House to launch what the Obama Administration dubbed the “Recovery Summer,” but according to the Bureau of Labor Statistics our economy has lost 283,000 jobs during the last three “Recovery Summer” months. In his remarks, Vice President Biden claimed – four times over – that the ‘stimulus’ was working. Now, nearly three months later, what began as the “Recovery Summer” has “morphed into a summer of economic discontent amid anxiety over the weakening economy.” According to Larry Sabato, Director of The University of Virginia’s Center for Politics:
“[C]onditions have deteriorated badly for Democrats over the summer. The economy appears rotten, with little chance of a substantial comeback by November 2nd. Unemployment is very high, income growth sluggish, and public confidence quite low. The Democrats’ self-proclaimed ‘Recovery Summer’ has become a term of derision, and to most voters—fair or not—it seems that President Obama has over-promised and under-delivered.”
Indeed, today’s jobs report provides further evidence that President Obama has failed to deliver on the promises his Administration made at the time the trillion-dollar ‘stimulus’ was signed into law. While the Obama Administration claimed that the ‘stimulus’ would keep unemployment below eight percent, it now stands at 9.6 percent, and, according to a Gallup poll released yesterday, underemployment has increased to 18.6 percent.
Economist Diana Furchtgott-Roth, Director of the Center for Employment Policy at the Hudson Institute, weighed in on how the Obama Administration’s job-killing policies are hampering economic recovery:
“The real story is that the administration is flunking economics through job-destroying policies of raising taxes and government spending and imposing new costs on hiring.
“Only 763,000 private sector jobs have been created since December 2009, despite the $862 billion stimulus package. That’s over a million dollars spent for each new job. Meanwhile, Americans face one of the highest tax hikes in history in January, further destroying the weak economy.”
LISTENING AND OFFERING BETTER SOLUTIONS. According to noted economist and former Congressional Budget Office Director Douglas Holtz-Eakin, the August jobs report “shows no indication of robust growth” and “speaks volumes for the need for a new approach to economic policy in Washington.” To that end, House Republican Leader John Boehner (R-OH) delivered a speech before The City Club of Cleveland last week detailing a series of steps that can be taken right now to create jobs and get the economy moving again. In his remarks, Boehner urged President Obama and Democrats in Washington to end the uncertainty and stop the looming tax hike that is preventing employers from creating jobs. He also called on the president and members of his party to stop obstructing efforts to eliminate the burdensome ObamaCare mandates that will make it impossible for small business owners to focus on growing their businesses and creating jobs.
Republicans have also been holding town halls across the country to engage Americans directly in the process of creating a new governing agenda. Americans can weigh in on proposals to cut government spending and create jobs on AmericaSpeakingOut.com, or even offer an idea of their own.