The Department of Labor’s April jobs report out last week offers another snapshot of just how much the Obama economy is failing the American people.
The good news: 115,000 jobs were created last month.
The bad news: that number falls short of the 170,000 experts predicted and is far short of the 250,000 needed just to keep up with population growth.
The worse news: while the unemployment rate declined slightly to 8.1 percent, that is only because 342,000 Americans gave up looking for work all together. In total 2.3 million have given up looking for work, bringing the percentage of able Americans working or looking for work to a 30-year low.
So while some will tout the 8.1 percent as good news, the unemployment rate is actually closer to 11.5 percent. When you take into account those who have been forced to take part-time work because they cannot find full-time, the real unemployment rate is 14.5 percent.
In campaigning for his failed $1.2 trillion economic “stimulus,” President Obama claimed unemployment would be at 6 percent today. Three years later, it not only missed that mark but unemployment has averaged 9.1 percent since it was signed into law. Remember that promise that it would never reach 8 percent?
In the face of this daunting news, President Obama has chosen to double down on his tax and spend agenda. In February, he proposed a budget that would add another $11 trillion to the national debt and impose a $1.9 trillion tax increase on our already struggling economy. Not a single member of Congress would vote for it when given the chance.
The government cannot spend its way out of this problem. Three years of trillion-dollar deficits have made that clear.
It does not take rocket science to figure out what plagues our economy. America now has the highest corporate tax rate in the world. According to the World Bank, we rank 13th in the world in terms of ease of starting a business. That means it’s easier to do business in such economic powerhouses as Macedonia, Georgia, Rwanda, Belarus, Saudi Arabia, Armenia and Puerto Rico, which are ranked sixth through twelfth.
Given those statistics, does America look like a country interested in creating jobs?
In the House, we have passed 30 bipartisan jobs bills with common sense reforms aimed at removing government barriers to economic growth and job creation. Our proposals to empower small businesses, reform the tax code, increase competitiveness, encourage entrepreneurship, and maximize American energy production have all gained wide support from both sides of the aisle only to find them stuck in the Senate.
To break the logjam and get these bills passed, the president need only pick up the phone and call Senate Leader Harry Reid.
The House has acted. It is time for the Senate and the president to either support our proposals or put forward their own. Together, we can provide the leadership that will create a pro-growth environment to reignite our economy and put America back to work.