Today, Congressman Eric Cantor (VA-07) released the following statement on the third anniversary of President Obama's failed stimulus:
"Three years ago, President Obama's first action in office was to push through a massive, $825 billion stimulus package based on the promise of keeping unemployment under 8 percent. The Obama Stimulus failed to create the jobs that Americans were promised and piled up mountains of debt that our children and their children will have to repay.
"The Obama Presidency has been defined by years of stagnation, and we need bold, pro-growth policies to spur real economic growth and boost the job engines in this country -- our nation's small businesses. Three years ago, House Republicans proposed a stimulus alternative focused on small business people, which President Obama rejected. Now that the American people have rejected the President's approach, it's time to try something new.
"We must encourage more entrepreneurs to start small businesses and provide the environment so risk takers will again take risks. This is where the jobs will come from. And our efforts should be focused on creating an environment to foster job creation. That is why I propose a 20% small business tax cut to help the backbone of our economy -- American small business people. I call on President and Senator Reid to stand by their rhetoric and work with us to help small businesses grow and create jobs."