For the past nine months, my colleagues and I have been passing legislation in the House of Representatives which would help stimulate the economy and encourage job growth. The most effective way to create jobs is for government to get out of the way and stop punishing success through the burdensome tax code and onerous regulations. Unfortunately U.S. Senate leaders have not shared our vision for job growth which is why most of these bills have died slow deaths after passage in the U.S. House of Representatives.
Just weeks after President Obama announced his "jobs plan" which is just a new deficit-spending stimulus plan; we have been hearing how no one has offered any alternatives, a charge which just doesn't stand up to reality. Job creation has been one of the areas where this Congress has focused its energy. Listed below are all of the bills that the House of Representatives have passed which will create jobs and grow our economy.
The failed economic stimulus that passed more than two years ago has proven that government is not effective at creating jobs. Contrary to what President Obama has proposed, we cannot spend our way out of this recession. Many argue that government control through stimulus spending is the only way to create jobs, but our 9.2 percent unemployment rate shows how false that argument is. If borrowing and spending were the answer, it would have worked by now.
The Solyndra case is a prime example of the corruption that can take place when the federal government picks winners and losers and hands out checks to private entities. Solyndra, is a California-based solar panel company which has recently filed for bankruptcy. Solyndra received a $535 million dollar loan guarantee from the federal government as part of Recovery Act (2009 failed stimulus) and was a key part of the President's Green Jobs Initiative. The President proudly stated when he spoke at the factory that, "the true engine of economic growth will always be companies like Solyndra." Even while the President was announcing this loan guarantee to Solyndra, emails had already been exchanged between analysts at the Office of Management and Budget and the Energy Department discussing a "major outstanding issue," that according to Solyndra's numbers, the company would run out of cash in September 2011. Why would the federal government invest in a company that private investors had already decided was destined for failure? The only reasonable explanation is blind ideology and a political agenda. Economist John Keyenes said it best, "It is a mistake to think businessmen are more immoral than politicians."
Put simply, another stimulus, which will add to our over $14 trillion dollar debt and have little impact on job creation, is not the answer.