Another year, another failed "recovery summer".
On September 2nd, the U.S. Department of Labor reported that zero net new jobs were created during the month of August and that there were 57,000 fewer new jobs created in June and July than had been previously reported. While promises were made that the nearly trillion dollar "stimulus" package of 2009 would revive our economy and keep the unemployment rate from exceeding 8 percent, today 14 million Americans remain out of work, while millions more have either quit searching for a job or remain underemployed.
As the threat of a double-dip recession looms over our economy, the unemployment rate is expected to remain high for the foreseeable future. In its mid-year review, the non-partisan Congressional Budget Office projects that unemployment will remain above 8 percent until 2014. It is clear that spending massive amounts of borrowed money on government programs and pet projects has not and will not create new jobs.
Unfortunately, some in Washington still believe that we can spend, tax, and borrow our way to prosperity and job creation. Despite the massive failure of his first stimulus package, the President in his recent address to Congress has requested yet another $450 billion for short-term spending measures that will do little to stimulate long-term job growth. Only in Washington can someone repeat the same failed policies and expect different results.
The fact is real job creation comes from the private sector -- not government spending and mandates. As we head into the final months of 2011, I will continue working with my colleagues to enact a pro-growth agenda that will remove the uncertainty that is preventing employers from expanding and hiring new workers. This will require us to cut spending and learn to live within our means; scrap onerous and costly regulations on our nation's small businesses; reform the tax code to provide relief to taxpayers and spur investment in our economy; maximize domestic energy production; and eliminate government waste of taxpayer dollars.
With so many Americans continuing to struggle to find adequate employment, Washington must put an end to the borrowing and spending agenda of the last two and a half years, and promote an economic environment where the private sector and entrepreneurship can thrive. At a time when we have pushed our national debt to unsustainable levels, we cannot afford to repeat the mistakes of the past.
Rep. Gary Miller represents California's 42nd Congressional District.