For the past few years, we've watched as Congress has spent hundreds of billions of dollars under the guise of "job creation". But unemployment is still hovering above 9% and the economy is struggling to get back on its feet. It's clear that we need a new path to prosperity.
I've talked with several small business owners around southern Indiana, and it's clear why government spending has failed to stimulate the economy: Massive spending leads to massive debt, and massive debt usually leads to tax hikes. Businesses are worried to take on new employees because they are uncertain of what new taxes may be lingering around the corner.
If we really want to grow the economy and put Hoosiers back to work, we need to make it ease their fears and bring the cost of doing business down. The best path forward for our country is to cut-and-grow: if we cut spending and cut the red tape, businesses will be free to grow. Here are some ideas I support:
* We need to drastically cut federal spending and get our budget deficits under control to reassure job creators that no tax increases are coming
* We need to review bureaucratic federal regulations which often make it harder and more expensive for small businesses to operate and compete, and remove those which stand in the way of economic growth and job creation
* We need to repeal legislation, like the 1099 tax-form requirement in the health care law, which place undue burdens on businesses and consumes too many of their resources with needless paperwork