Congressman Bobby Schilling (R-IL-17) and Illinois State Treasurer Dan Rutherford today held a press conference at which they discussed job creation, government spending, and taxes in Illinois.
The U.S. Bureau of Labor Statistics' recently released unemployment numbers for the month of May showing the national unemployment rate for May 2011 was 9.1%, and the unemployment rate for Illinois rose 0.2% to 8.9%, far above the 8% promised by the Administration as they pushed the American Recovery and Reinvestment Act through Congress. This week the Congressional Budget Office released a report indicating that our nation's long-term budget outlook has continued to worsen, and that job-destroying public debt will grow 83% in four years under President Obama.
Rutherford released a report last month detailing Illinois' massive debt and demonstrating the detrimental effect the state's declining credit rating has on taxpayers. "Borrowing has become an addiction in Illinois. The state must break this unsustainable cycle before a further financial disaster is realized. I am proposing something extremely simple -- only spend as much money as the state brings in," said Rutherford.
Shilling advocates The Plan for America's Job Creators introduced by the House Majority at the end of May. The plan would reduce regulatory burdens in order to empower small business owners, fix the tax code to help job creators, increase competitiveness for manufacturers, encourage entrepreneurship, maximize domestic energy production and decrease dependency on foreign sources, and work towards paying down our unsustainable national debt.
"With credit agencies downgrading their outlook on the US' debt, with the federal government spending $43,000 in interest per second, Washington simply cannot continue on with policies that keep workers on the unemployment line and drive us deeper into debt. Interest of $43,000 per second -- that's the cost of 40 well-paying jobs in Illinois, every single minute. American families have been making do with less, and our government must do the same -- both at the federal and the state levels," Schilling said. "The Plan for America's Job Creators would do just that, removing government barriers in order to spur private-sector job creation and economic growth."
The Plan for America's Job Creators will require Congressional review of federal regulations that burden small businesses or significantly impact the economy, reform the tax code, open new markets to American-made products, improve and streamline existing federal programs and processes, promote domestic energy production and an all-of-the-above approach to energy, and enact significant spending cuts to help create jobs and grow our economy.