Dr. Boozman's Check-up
Jun 15 2012
The President tried again to hit the reset button on economy yesterday.
During what was framed as a major economic speech in Cleveland, President Obama again talked about the problem but failed to offer any new solutions. Instead, he offered the same tired policies that have failed to spark economic growth and put Americans back to work.
This is the worst economic recovery in over 60 years. And President Obama’s policies are exasperating it. Instead of recognizing that and working with us to change course, the President continues to double-down on his failed policies.
As I recently said on the floor of the Senate, Washington has to change course. If we are going to turn a corner, we have to try a different approach. My colleagues and I have a better path to a healthy economy that restores economic security and opportunity. Our market-based reforms are exactly what this economy needs to allow businesses to hire and expand.
Clearly, by the tone of President Obama’s speech yesterday, he has no desire to work with Congress. He is content playing out the final quarter with the same game plan that has put us so far behind.
It is foolish to keep running the same play after it hasn’t worked the numerous times you previously ran it. Here we are, three years after the end of the recession, and we are not close to a better economy now than we were then. Unemployment numbers just in for Arkansas over the month of May show an increase to 7.3-percent.
A real jobs plan needs to be more than spending to bailout state governments. Fifty separate band-aides do not repair a national economy in disarray. A real jobs plan needs to focus on the private sector. Contrary to what the President recently said, the private sector is not doing “fine.” The private sector is struggling in large part because of to the President’s relentless efforts to pursue policies that do not encourage economic growth.
When the President pushed through his massive stimulus package in 2009, he claimed unemployment would be below six percent today. With a national unemployment rate of 8.2 percent, we are not even close to six percent. And the yet the President wants another round of stimulus spending?
It’s time to find a new playbook.