Unemployment continues to rise, and it is painfully clear that the so-called stimulus bill Congress passed earlier this year has failed.
In fact, President Obama has called for a summit on jobs next month and Democrats in Congress are scrambling to hurry through yet another massive spending bill under the guise of job creation.
Apparently, they think the stimulus bill didn’t spend enough money. If you'll recall, when the President was pushing for the stimulus bill we were told if it passed unemployment wouldn't rise above 8%. Unemployment is currently at 10.2%.
The truth of the matter is that spending and debt from the bailouts and the stimulus bill, along with the prospect of the cap and trade bill and healthcare bill, have created an economic environment that does not foster meaningful job growth and economic recovery.
When you increase spending and pile on debt as this Administration and Congress have done, it's no wonder job losses continue to mount. Now, Democrats in Congress want to take more action and spend more money to try and create jobs. I've included an article that ran in today's Politico. I hope you'll take a moment to click here and read the piece.
We need to stop throwing money at the problem and start enacting pro-growth economic policies. The economy will bounce back much faster and unemployment will begin dropping if Congress cuts corporate, personal, and capital gains taxes. Businesses are much better than Congress at creating jobs.
