WASHINGTON – House Republican Conference Chairman Jeb Hensarling (R-Texas) issued the following statement today regarding the latest unemployment report released by the U.S. Department of Labor.
“Today's numbers are sadly not a surprise but another sign that President Obama's spending agenda did not help our jobs crisis--it made it worse. They are a reminder that 20 million Americans remain unemployed, are only working part-time, or have stopped looking for jobs altogether because they simply aren’t out there. Times are tough, and the Democrats’ refusal to tackle the major impediments to job creation is only making them tougher, for longer.
“Unemployment has now stayed above eight percent for a devastating 29 months in a row. Our nation continues to experience a historic deficit of jobs because job creators have an enormous deficit of confidence due to President Obama’s economic policies. Massive spending and massive new regulations have left job creators lacking confidence in their ability to stay afloat. Our massive debt, produced in large part by the president’s signature initiatives, has forced businesses and investors to keep capital on the sidelines because they know that such debt will lead to massive taxes to pay for it. Countless job opportunities have been taken overseas.
“The longer Democrats fight to keep confidence among job creators down, the longer jobless rates will stay up. With unemployment at its highest sustained level since the Great Depression and new business creation at its lowest level in 17 years, the lack of confidence among job creators is taking a horrific toll on our economy and on the American people.
“In order to turn our economy around and create jobs, Washington must stop spending money it doesn’t have. So far this year, House Republicans have passed a series of major bills to cut wasteful spending, roll back red tape, increase American energy production, and reduce our debt so that certainty can be restored and job creation can be resumed. These bills directly tackle the main causes of our economic distress, and it’s time for Senator Harry Reid and President Obama to consider them.”