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.
“Put simply, this economy is growing too slowly to replace the millions of jobs that have been lost. Job creators across the country are telling us that government taxes too much, regulates too much, and spends too much to give them the confidence they need to hire new employees. House Republicans have listened and we’ve acted to block the president’s call for new tax hikes, to roll back unnecessary regulations, and to force a historic debate on the ultimate solution to our debt crisis, the balanced budget amendment.
“The nation’s worst unemployment streak since the Great Depression is just one sign that President Obama has taken our country down the wrong path. The Misery Index is sky high while new entrepreneurship is at a 17-year low. It takes longer than ever for out-of-work Americans to find new work—40 weeks—while nearly one in seven people are on food stamps. It’s no surprise that consumer spending recently declined for the first time in nearly two years, further hampering private sector growth.
“The facts speak for themselves, and the facts say that the Democrats’ policies have made things worse. House Republicans have been focused on job creation since day one, fighting the Democrats’ failed tax-and-spend policies that have only served to expand government while shrinking economic growth. Instead of joining the fight, the Democrat-Senate has failed to take up nine House-passed bills that will help remove barriers to certainty that are keeping job creators on the sideline.
“Job creation depends squarely on the confidence of job creators. As long as we keep borrowing 42 cents on the dollar, much of it from the Chinese, and sending the bill to our children and grandchildren, our debt will grow and confidence will shrink. For a permanent cure to Washington’s spending disease we don’t need higher taxes in a so-called ‘balanced’ approach, we need a balanced budget. House Republicans are fighting for a balanced budget amendment to the Constitution in order to bring back jobs, hope, and opportunity for the America people.”