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The United States Department of Labor recently announced that for the third straight month, there has been no improvement in our country's unemployment numbers and the number of new jobs created, 112,000, fell short of the projected gain of 226,000 new jobs. While any new jobs are good news, this growth is too sluggish and shows that the current policy of cutting taxes and running deficits is not giving Americans the full help they need.
In order to strengthen our economy and generate new jobs, the federal government has to 1) stop operating on borrowed money and 2) reduce the massive tax cuts fueling our record deficits. Government deficits and unreasonable tax cuts drive up interest rates and weaken investor confidence, which in turn sour the economy and lead to a bleak job outlook. To fix the economy, the best thing the government can do is to return to the balanced budgets and solid financial foundation of the 1990s, which led to sustained economic growth, opportunity, and job creation.
In an effort to reduce our deficits and restore restraint to our budget, I recently supported a measure on the House Floor to reduce the tax cuts for people making over $1 million per year and to fix our spending priorities. I also voted against the 2005 federal budget, which did not do enough to address our deficits and restrain federal spending. When the government shows fiscal responsibility, the economy will respond favorably.
To read earlier Washington Updates on unemployment and job creation, visit my website at http://www.house.gov/andrews, click on "Washington Updates," and follow the links for January 22, 2002, Oct 17, 2002 and May 22, 2003.
To view the legislation for the 2005 federal budget, visit http://thomas.loc.gov and search for H.CON.RES.95. To view
earlier Washington Updates on the federal budget, view the links for March 25, 2004, February 26, 2004, May 28, 2003, April 11, 2003, and August 29, 2002 at my website.
To view the remarks I made on the House Floor supporting a reduction in the tax cuts for millionaires, please click on "Floor Statements" at my website and follow the link for June 24, 2004 under the 108th Congress. To view the text of this legislation, visit http://thomas.loc.gov and search for H.R. 2691. |
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