U.S. Congressman Bill Flores (R-Texas) issued the following statement today regarding the August unemployment report released by the U.S. Bureau of Labor Statistics.
"Once again we are shown the reality of President Obama's failed economic policies with another disappointing jobs report. For 43 consecutive months the unemployment rate has stayed above 8 percent, and the real unemployment is a staggering 14.7 percent. The labor participation rate dropped to 63.5 percent which continues to remain near a 30 year low. This drop in participation shrinks the labor force to bring about a false positive of a lower unemployment rate. The fact remains there are over 23 million Americans struggling to find employment who are looking for leadership to turn our economy around and put Americans back to work. Americans continue to worry about the future and they continue to ask 'where are the jobs?'
"As Americans continue to struggle to find work, there is a fiscal cliff ahead that will cause even more pain for American families. The Congressional Budget Office recently released an updated budget and economic forecast showing that based on our nation's current path, which includes the pending tax increases and defense cuts, the U.S. economy will be forced into another recession and the unemployment rate would rise above 9 percent in 2013. This update clearly illustrates that the president's economic policies have failed and will continue to cause severe economic pain.
"As a CPA and an entrepreneur who has helped create hundreds of jobs, I have firsthand experience as to what will put Americans to work and grow our economy. That is why I am pleased to have supported the over 30 bills that House Republicans have passed as part of the Plan for America's Job Creators. These bills would quickly stop the approaching recession and get Americans working again. Unfortunately, the president and the Senate have yet to even consider these bills or offer a credible plan to put Americans to work. While the president and Senate Majority Leader Harry Reid continue to focus on big government solutions that are merely rehashed versions of their failed $800 billion stimulus program, the Senate continues to exhibit irresponsible behavior by refusing to pass a budget for well over three years. It is time that they act upon the common-sense House passed bills which are built around "Main Street' solutions, so that America can reduce uncertainty for job creators and enable them to invest in new American jobs."
Congressman Bill Flores represents the 17th District of Texas and is an entrepreneur, former energy executive, Certified Public Accountant (CPA) and member of the House Budget, Natural Resources and Veterans' Affairs Committees.