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Thursday, May 5, 2016

Obama jobs plan is more of the same

Friday, October 21, 2011

For 32 consecutive months the national unemployment rate has been at or above 8 percent. Today, it stands at 9.1 percent. Nearly 14 million Americans continue to look for jobs as average family incomes are dropping and the poverty rate is rising. Maintaining the status quo is unacceptable.

In recent weeks President Obama has been campaigning across the country, demanding for Congress to pass his "jobs" bill. Unfortunately, his plan is more of the same failed stimulus policy which evidence shows has not worked. A sequel to the 2009 trillion-dollar stimulus would not provide the boost our economy needs to create jobs -- just look at the facts.

Since the first stimulus package was enacted, America has seen a net loss of 1.7 million jobs and unemployment is still above 8 percent, despite the Administration's promises. In fact, President Obama claimed as a result of the stimulus today's unemployment rate would be 6.5 percent, yet in September the rate was 9.1 percent. The first stimulus plan produced record unemployment, record poverty, and record deficits. We should have little confidence continued attempts at stimulus policies will yield different results.

Just as troubling as the lack of results is the cost to taxpayers. The President has assured Congress and the American people the $447 billion bill would be paid for without adding to the deficit, but it seems he is relying on budget gimmicks and new taxes. As the Associated Press put it, "the jobs plan is an IOU from a president and lawmakers who may not even be in office down the road when the bills come due." At a time when we need to focus on spending cuts, more government spending is not a viable option.

The President's repeated calls to "pass this jobs bill" gives the impression Congress is not working to address this critical issue. Since the beginning of the 112th Congress, the House of Representatives has vigorously pursued targeted policies to provide job creators with the certainty they need to add more workers, expand operations, or invest in new technology. Repealing burdensome regulations, working toward comprehensive tax reform, and expanding international trade are commonsense policies which otherwise help create the jobs we so desperately need.

The solution to growing our economy lies in generating an environment where Americans can see more opportunity through job creation. For more than two centuries, American workers and innovators have been the engine of an economy envied around the world because they had the ability to create, invent, hire, and expand without a looming uncertainty of the government's role in their business.

Instead of spending more, the President and Congress need to listen and untangle our job creators from crippling tax increases and job-killing regulators. The answer lies not in more public-sector spending, but in trusting hardworking Americans who want to create jobs and get government out of the way.

For more information about this issue, the latest developments in Congress, or to sign up for my e-mail newsletter, please visit my website at http://adriansmith.house.gov.

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Consumers are the job creators.

-- Posted by hulapopper on Fri, Oct 21, 2011, at 9:21 PM

Representative Smith

Why aren't you talking about the Keystone XL Pipeline? This is an issue that directly involves Nebraska and we would sure like to hear what our Representative from the 3rd district has to say about it.

If regulations are hampering industry, how could a 35% forecast increase in farm income be happening?

Can you explain to us Nebraskans how Corporate Profits can be at all time record highs if regulations and tax increases are crippling them?

Can you bring us up to date on how many citizens have participated in the IRS amnesty program for those evading their taxes in offshore tax havens?

Can you give us an idea of how many of the 250,000 toxic waste sites in our country are currently undertaking remediation efforts? How many jobs have been generated by the Environmental Remediation Expensing Allowances passed in last years legislation?

How many new jobs have been created by the extension of the Research and Development Tax Credit? You were a big proponent of this tax credit, show us which companies are currently utilizing this credit and how many new jobs they have created.

Can you bring us up to speed on the proposed legislation which would allow over a trillion dollars of deferred offshore earnings to come home under a Repatriation Tax Holiday? The 2004 Repatriation was supposed to create 660,000 new jobs with $300 billion coming home -- can we expect triple the number of jobs if triple the amount of dollars are allowed to come home at a reduced tax rate?

If we continue to cut Government Spending as the primary method of reducing the deficit and meeting our debt obligations, can you provide a projection of how many years it would take to accomplish this goal?

Can you provide us with current data which shows how many Nebraskans are participating in programs implemented under the Affordable Care Act?

Best Regards

-- Posted by Geezer on Sat, Oct 22, 2011, at 8:03 AM

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U.S. Rep. Adrian Smith
Washington Report