The Corner

Unemployment=9.9 percent

House Republican Whip Eric Cantor responds in a statement to the latest BLS numbers:

An employment report that shows job growth is always a good thing, period. What concerns me, however, is whether we are creating long-term, sustainable jobs that will help America reclaim its place as the world’s sole economic superpower. The agenda being pursued by Democrats in Washington—fueled by a spend-now, pay-later governing philosophy—is a barrier to the kind of job growth that America so desperately needs.

Out-of-control spending in Washington has produced a Mount Everest of debt that we are asking future generations to climb. Even if the economy added 250,000 jobs every month, it would take nearly five years to get back to full employment. Five years is too long. It doesn’t help matters that job creators have already indicated that the new health care law will substantially increase their costs causing workers to lose their jobs.

I look at the horrible images coming out of Greece and I am struck by the reality of what can happen when a country goes on a shopping spree without paying its bills. Thank goodness America is not at that point. We have time to right the ship and get serious about tackling our own debt crisis. But we have to start now. Until we do, sustainable- job growth may not be possible.

Beginning this month, college seniors will receive their hard-earned diplomas and go out in search of jobs that will be hard to find. We owe it to them—our future innovators and job creators—to start acting responsibly in Congress.

Yesterday, in anticipation, House Republican leader, John Boehner said:

Everywhere I go, I hear the same question – “where are the jobs?’”– and it’s clear Democrats are committed to repeating the same mistakes rather than working with Republicans on common-sense solutions.

Tomorrow we will receive the latest monthly jobs report.   We are expecting to see some gains, which is always a positive sign, but that will likely include thousands of taxpayer-funded temporary Census workers.  Make no mistake: a near 10-percent unemployment rate is completely unacceptable.

The Obama Administration said that the trillion-dollar ‘stimulus’”would create jobs “immediately’” and keep unemployment below eight percent.  Our economy has lost more than three million jobs since then and unemployment remains near 10 percent.  Our economy will ultimately recover, but it will do so because of the hard work and entrepreneurship of the American people, not more wasteful Washington spending.

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