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Public Statements

Issue Position: Jobs & The Economy

Issue Position

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Date:
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Remove obstacles to job creation imposed by destructive and ineffective regulations, programs and bureaucracies so that companies are freer to invest and grow their businesses.

The U.S. government currently finds itself simultaneously plagued by sagging revenues and soaring spending. As the recession dissipates and the economy resumes growth, tax receipts are projected to return to their post-1960 average of roughly 18.5 percent of GDP, and that is in the absence of any tax increases. Unfortunately, the same cannot be said for spending, which is projected to climb to a level well in excess of 20 percent of GDP. Long-term deficits are thus being driven not by low revenues, but by government spending--a reality that can and should be addressed not through higher taxes, but through reduced spending.

Our short-term and long-term fiscal situations have reached perilous depths. According to the Medicare and Social Security Trustees Reports, unfunded liabilities for these two programs are in excess of $30 trillion. For each year that we put off serious entitlement reform, the price tag of such reform grows by $1 trillion. Cutting the budget deficit--specifically by reforming entitlements, which are the key drivers of America's growing deficits--is of paramount importance.

Repeal Obamacare. The Patient Protection and Affordable Care Act has frozen business hiring across America as businesses wait to see how the law's new regulations will develop and what effects they will have. Obamacare encapsulates the kinds of harmful regulatory policies the Obama Administration has favored at the expense of economic growth.


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