Washington Was Wrong
More than 2.8 million Americans have lost their jobs since the failed $862 billion economic stimulus package was enacted. Even by the Administration’s own estimates, unemployment will remain around ten percent for the next year. Washington thought it could fix our economy by expanding government, driving up the national debt, and spending taxpayer dollars. Washington was wrong.
Congress continues pushing policies that are creating a culture of uncertainty, and as a result, businesses are loath to make investments and hire new workers. Small businesses create 70 percent of new jobs, but record deficits, coupled with the impending threat of government-run health care, card check, cap-and-trade, and tax hikes to pay for wasteful spending have effectively paralyzed small businesses.
A CNN/Opinion Research Corporation poll released today found that 84 percent of Americans think Congress has not done enough to create jobs, and only 14 percent said they are satisfied with lawmakers’ efforts so far.
Recovery depends on giving small businesses the opportunity to create jobs. We need to incentivize job creation through targeted tax cuts and tax credits. Washington’s approach has taken us in the wrong direction, and one year later, we have little to show for taxpayers’ investment.