Congressman Lamar Smith released the following statement today after the Department of Labor announced the national unemployment rate reached 10.2 percent during the month of October:
"What did the American people get for their $787 billion? Today, we have our answer: 190,000 jobs lost in October, 10.2 percent unemployment, and more than 2.8 million jobs lost since the so-called stimulus was signed by President Obama.
"And now, because the Democrats did such a good job with the taxpayers' money in that case, they're moving on to their next trillion dollar bill -- a plan for a government takeover of health care.
"What sort of results can we expect from that bill? According to the non-partisan Congressional Budget Office (CBO) we can expect $744 billion in job-killing taxes, $400 billion in Medicare cuts, and higher premiums for all Americans.
"The American people know that we cannot and should not continue on this ruinous course. Instead, my fellow House Republicans and I have introduced an economic recovery plan that will create twice the jobs at half the costs of the Democrat so-called "stimulus" and we have a health care plan that will lower costs, reduce the deficit and ensure coverage for those with pre-existing conditions.
"The Democrats in control of our government need to listen to the American people and stop mortgaging the country's future."