Dr. Boozman's Check-up
Sep 02 2011
For the first time since 1945, the Labor Department’s job report was released with a total of zero net jobs gained for an entire month. It was the weakest job report since September 2010, a month where the Labor Department reported a net loss of 29,000 jobs.
When the economy needs to add roughly 250,000 jobs a month to lower our nation's unemployment rate, a choice between zero and a negative number is not progress.
Our economy is not sluggish, it is motionless. And everything the President is doing to address the situation is preventing a recovery from beginning. In a climate of overregulation and potential tax increases, the private sector is apprehensive to make any moves for fear of what tomorrow will bring from Washington. When business owners don’t know what their tax rates and energy, healthcare and compliance costs are going to be, then the last thing they are going to do is rush out and hire a bunch of people. It is common-sense that seems clear to everyone except the President and those who share his view in Congress.
To encourage investment in small business, the heart of our nation’s economy, we need to provide business owners and investors with the predictability they need to make sound investment decisions. In order to accomplish this we need to rein in federal spending, reform our tax code, reduce regulatory burdens imposed by government agencies, increase exports by passing pending free trade agreements and create a new energy policy that allows us to use American resources and make us less dependent on foreign oil.
But I am not holding out hope that the President will take this approach in his speech before Congress next week. I’m guessing what we will hear is more of the same in terms of his push for another “Stimulus” bill.
We tried that Mr. President and it clearly didn’t work. It is time to admit that and work with us on our commonsense approach to getting our economy back on track.