Straight Talk- Getting Our Fiscal House in Order; July Unemployment Numbers

Statement

Dear Friends,

This week we avoided default by passing the Budget Control Act of 2011 on Monday. While not perfect, it addresses our out-of-control debt without any job-killing tax increases, which will help provide some much-needed certainty for our nation's most robust job creators--small businesses. This bill cuts spending now, caps future spending and will require votes on a balanced budget in both chambers.

I am most pleased that Speaker John Boehner and Senate Minority Leader Mitch McConnell fought hard and were successful in negotiating a bipartisan plan to pay our bills without any tax increases, despite demands by President Obama and Majority Leader Harry Reid to do so.

Tax increases are a significant threat to jobs. At a time when our economy remains stagnant, with 9.1 percent unemployment, as reported today by the Department of Labor, and nearly 14 million Americans out of work, we should be doing everything possible to make it easier to do business in this country, not harder.

Although much more must be done in the months ahead to continue to root out waste and duplication in the federal government, the Budget Control Act was a step in the right direction.

Sam Graves
Chairman

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