Rep. Shelley Moore Capito, R-W.Va., released the following statement today after the Bureau of Labor Statistics reported that the economy lost nearly 467,000 jobs in June, leading to a startling 9.5% unemployment rate:
"Across West Virginia, the economy remains the number one concern around the dinner table, yet Washington continues to act like we can tax, spend and borrow our way out of this economic slowdown," said Capito.
"I simply don't believe that a $787 billion stimulus package, a $3.6 trillion budget, continued bailouts of private business and a new cap-and-trade system provide a ticket to economic prosperity. And if we needed a further reminder of our mounting federal debt, the Treasury Department just last month was forced to auction off $104 billion in Treasury notes. We can't afford policies that continue to burden middle-class families with new spending, new borrowing and new taxes."
"We know that infrastructure projects can help create jobs and spur economic activity, which is why I pushed for a stimulus package that was truly heavy on infrastructure investments. We know that we can make significant investments in greener energy technology without a burdensome cap-and-trade system, which is why I've joined with a bipartisan coalition to introduce the American Conservation and Clean Energy Security Act."
"But most importantly, we know that today's troubling unemployment numbers must serve as a reminder to Democrats and Republicans that the challenges of the day demand real bipartisanship. From the economy to energy to healthcare, these are issues of serious concern and they demand give and take from both sides of the aisle."