GOP Leader: “Any positive signs for our economy are welcome, but a jobless recovery is not what the American people were promised.”
WASHINGTON, D.C. – House Republican Leader John Boehner (R-OH) today issued the following statement after the Department of Commerce announced that the real gross domestic product (GDP) increased at an annual rate of 3.5 percent in the third quarter of 2009:
“Any positive signs for our economy are welcome, but a jobless recovery is not what the American people were promised. President Obama and his economic team said the trillion-dollar ‘stimulus’ would create jobs immediately and keep the unemployment rate below eight percent. Since then, roughly three million jobs have been lost and unemployment has risen to near 10 percent.
“For millions of out-of-work families struggling to make ends meet, this recession feels far from over. Yet even now, after the Obama Administration’s top economist has stated that the ‘stimulus’ already had its greatest impact on the economy, Washington Democrats are intent on staying the course and trying to spend, tax, and borrow their way to prosperity. Republicans have proposed fiscally responsible solutions to help small businesses create good-paying jobs and get our economy moving again.”
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THE OBAMA ADMINISTRATION ON JOBS AND THE ECONOMY:
President Obama: “This is something that I ask every single one of my economic advisers every single day, because I know that ultimately the measure of an economy is, ‘is it producing jobs.’” (CNN, 9/20/09)
Jared Bernstein, Vice President Biden’s chief economist: "Absent robust job growth, it is not a true economic recovery.” (AP, 10/27/09)
“Stimulus’ big boost to the economy? It already happened. White House economist Christina Romer said Thursday that the stimulus package's impact on the economy will weaken from here on.” (The Christian Science Monitor, 10/23/09)
HOUSE REPUBLICANS’ SOLUTIONS TO HELP SMALL BUSINESSES CREATE JOBS:
Allow small businesses to take a tax deduction equal to 20 percent of their income.
Let small businesses join together to purchase health insurance for their workers the way large businesses and labor unions do.
Enact genuine legal reform and policies that incentivize wellness to reduce health care costs for small businesses.
Lower taxes for all taxpayers by reducing the current 15 percent rate to 10 percent and reducing the current 10 percent rate to 5 percent. This will provide an immediate increase in income to every taxpaying family in America and free up capital to help small businesses hire more workers.
Expand health savings accounts (HSAs) to provide additional flexibility to small businesses in providing health care to their employees.
Increase the net operating loss carry back from 2 to 5 years to provide struggling employers with additional resources to keep their doors open.
NOTE: These proposals, some of which were presented to President Obama as early as his first week in office, were developed by House Republicans' Economic Recovery and Health Care solutions groups. The Economic Recovery Solutions Group, led by Republican Whip Eric Cantor (R-VA), is developing additional proposals to spur job creation.
