In the 3rd Congressional District, we have some of the highest unemployment in the country. Southwest Washington families are hurting today, and we need jobs. Compounding the problem, the United States is the largest borrower in the world. Every year, we sink further and further into debt. For years we've been running up debt that our children will have to pay off. If we don't act now, this debt will stop us from fixing our problems at home and erode our influence around the globe.
We can't blame one party for this mess. Politicians from both parties have treated our Treasury like a teenager with a credit card. Both parties have made a mess of our budget, and it's up to a new generation of leaders to fix it. I'm ready to put our nation's credit card away and start restoring permanent jobs to our region.
When the people who run DC see high unemployment, their answer is to run up the deficit by spending money for pet projects and call it a "jobs plan." They are borrowing money from China to pay for projects in their districts to help their reelection and the costs will be paid back by our children. That is bad policy for America now and in the future.
I have a completely different answer. There is a jobs program that worked to make America the most prosperous nation on earth. The government used to leave small businesses and entrepreneurs with the freedom to succeed or fail on the merits of the value of their goods and services. For 200 years that simple policy was the best jobs program in the history of the earth. That's my policy, and we have 200 years of history to show that it works.
The burst of the real estate bubble didn't prove that free markets don't work. It was proof that when the government tries to pick winners and losers we all lose. The government poured billions into Freddie Mac and Fannie Mae inflating real estate prices artificially and when the bubble burst we all paid the price. Now, the people running Washington DC have learned exactly the wrong lesson. They saw what happened and they want the government to take over more and more control of the economy. They want to run our businesses and chose our health care for us. To put politicians like Speaker Pelosi in charge of General Motors, our health care and the national banking system is to put America's future at risk. I will work to end "too big to fail." That's not free-enterprise, that's privatized gains and socialized losses.
Now we have government-first spending programs that fail to create private sector jobs, but support more and more government workers. It's unsustainable; job creators cannot grow the economy this way.
The Blueprint for Restoring Jobs
So what can government do to help our economy grow and allow employers to create jobs? First,we can pass a Balanced Budget Amendment. For years politicians have gotten away with hiding the true cost of their spending by running up deficits and hoping future generations would be able to pay them down. That's the wrong direction, and it kills jobs. Now, businesses of all sizes are afraid to hire because they fear the new taxes they will have to pay in order to foot the bill of this crushing debt. A Balanced Budget Amendment would force the Federal government to live within its means, just as you and I have to. By forcing government to live within a budget, businesses won't have to live in fear of unpredictable new taxes to pay for out-of-control government growth.
Next, I will oppose all tax increases. The Federal government takes in trillions of dollars in revenue every year. The problem isn't that we don't send enough money to Washington DC. The problem is that once it gets there, politicians have been spending it like drunken sailors. My promise is simple -- I will place more value on saving your money than spending your money. Changing the tax code so that investment is actually rewarded would stimulate the economy and allow entrepreneurs to create jobs.
Then, once we get spending under control and the budget balanced, we can start cutting taxes. The more money families get to keep, the more they'll have to start a business, hire new employees, or invest in their children's educations.
And that's how we'll get our economy moving again. Not by taxing and spending our way to prosperity, but by giving families and potential entrepreneurs the freedom to create and keep good-paying jobs. Economic prosperity will happen in America the same way it always has -- not through some government bureaucracy's central planning office, but through the hard work and enterprising spirit of millions of citizens. The American people are the most energetic, creative, hardest-working people in the world. Let's not let government get in their way.