Congressman Bill Shuster released the following statement after the Department of Labor released its June jobs report, that showed unemployment increased to 9.5 percent, and a loss of 467,000 jobs:
“Today’s unemployment report once again shows that continuing down the path of reckless spending, higher taxes and uncontrolled debt will not grow our economy or create jobs.
Instead of changing course to work with Republicans to forge a pro-growth agenda, the Democrats in Congress are repeating the same failed policies that in the past led to stagnant growth and high unemployment. Today’s economy is quickly beginning to look like it did the last time Democrats held a supermajority in Congress during the Carter Administration.
The answer to runaway unemployment is not a massive energy tax on all Americans, record levels of government spending and the threat of a middle class tax hike to pay for government run rationed healthcare. House Republicans continue to fight for a different kind of stimulus plan; an agenda that puts the American people back in the driver’s seat of our economy by encouraging investment, cutting taxes and letting America’s families and small businesses keep more of what they earn.”
FISCAL TIMELINE, 2009 (Office of the House Republican Whip)
· February 13, 2009: Democrat House passes $787 billion stimulus without Republican input.
· February 17, 2009: $787 billion stimulus signed by President Obama.
· February 23, 2009: Bipartisan budget summit (Total debt outstanding: $10.839 trillion).
· March 24, 2009: Presidential prime time news conference (Total debt outstanding: $11.046 trillion)
· April 20, 2009: Presidential $100 million savings announcement (Total debt outstanding: $11.189 trillion).
· April 29, 2009: House passes irresponsible $3.6 trillion budget.
· End of April, 2009: Administration bails out Chrysler.
· May 7, 2009: President submits savings proposal of .5% of the budget (Total debt outstanding: $11.256 trillion).
· End of May, 2009: Administration purchases GM (approx $50-$70 Billion).
· June 4, 2009: House Republicans propose $375 billion in common-sense taxpayer savings.
· June 15, 2009: CBO announces that the Kennedy-Dodd Govt. Healthcare bill would cost more than $1.3 trillion over ten years.
· June 16, 2009: House Democrats pass $100.9 billion Supplemental spending bill, plus $108 billion in “loans” to the International Monetary Fund.
· June 23,24,25, 2009: U.S. Treasury forced to auction a record $104 billion in Treasury notes to cope with America’s debt obligations.
· June 26: Speaker Pelosi brings cap & tax legislation - that will cost millions of jobs and impose a crippling energy tax upon working families - before House of Representatives.
· July 2: Unemployment rate in U.S. reaches 9.5% after 467,000 jobs lost in June.