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Public Statements

Dr. Coburn Touts Strong Economy

By:
Date:
Location: Oklahoma City, OK


Dr. Coburn Touts Strong Economy

Cites jobs number in Oklahoma City, Tulsa as examples

U.S. Senator Tom Coburn, M.D. (R-OK) said economic data released this week shows a booming economy and said continued tax relief paired with decreased federal spending are keys to maintaining job growth.

The Department of Labor said this week nationally the economy created 211,000 jobs in March and has created about 2.1 million jobs over the past 12 months. The national unemployment rate of 4.7 percent is lower than the average of the 1960s, 1970s, 1980s and 1990s.

"The American economy is strong and continues to grow. To keep the economy surging we must work to reduce out-of-control spending, make tax relief permanent, secure energy independence, reform our costly legal system, and make health care more accessible and affordable," Dr. Coburn said.

In Oklahoma, the news was just as good. Dr. Coburn cited reports that Dell Inc. plans to triple the number of employees at its Oklahoma City call center to nearly 3,000. According to the Oklahoma Employment Security Commission, the Tulsa metropolitan area showed strong job improvement adding 2,300 more jobs in February than January. Also, the Labor Department said Oklahoma's unemployment rate of 3.6 percent in February was the lowest level in nearly five years.

"Although this news is positive, members of Congress cannot take continued growth for granted. Our reliance on foreign capital to finance our massive debt, our addiction to pork-barrel spending and our inability to reform Social Security and Medicare are putting our entire economy in jeopardy," Dr. Coburn said.

"Our broken immigration system is another threat to our continued growth," Dr. Coburn added. "The total estimated cost of illegal immigration in terms of health care, education and other benefits is nearly $30 billion per year and is one reason why wages are not growing as fast as they could. Since 2001, total federal debt per American has increased by $9,000. But over that same time period, the average wages of American workers have only increased by $4,200."

"Sound economic policies in Oklahoma are also needed to continue job growth. I encourage our state leaders to continue to foster a business friendly environment in our state by working to lower taxes, decrease spending and limiting frivolous lawsuits," Dr. Coburn said.

http://coburn.senate.gov/index.cfm?FuseAction=News.PressReleases&month=4&year=2006&id=226

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