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Blog: The Leader's Ledger


Location: Unknown

Good Morning,

With all eyes focused on the dismal jobs numbers this morning, Leader Cantor said it best, "These job numbers are pathetic. It really cries out for us to actually try something new now." Perhaps the President ought to heed that advice and spend the next couple of days reevaluating his "to do" list.

Have a good weekend, all.

Today In History: In 1980, departing from the traditional notion that news could only be reported at certain times throughout the day, CNN became the first station to broadcast news 24 hours a day. Although encountering initial financial difficulty, the station's reporting of live events, especially during the Persian Gulf War in 1991, propelled the station to success.

Birthdays: Rep. Gregg Harper, Samantha Smith, Marilyn Monroe, Morgan Freeman, Andy Griffith, and Heidi Klum

Here are the Top 5 things you need to know today…

1. State Of Play: House Republicans Respond To Disappointing May Jobs Report, Highlight That There Is A Better Way. As the Labor Department reported on Friday that the unemployment ticked up to 8.2 percent in May, picking up just 69,000 jobs, House Speaker John Boehner and other top Republicans attacked the Obama administration over what he called a "disappointing" jobs report. "It's pretty clear the American people are still asking the question where are the jobs?" Boehner said. "Another month of disappointing job gains. It's pretty clear that the American people are hurting." Boehner also called on the Senate to work with the House to pass legislation that will grow the economy. House Majority Leader Eric Cantor also blamed the administration for what he called "pathetic" jobs numbers. "It's time for us to own up here, the policies that have been coming out of this administration have not worked," Cantor said on CNBC's Squawk Box, saying that the lower-than-expected numbers are a sign the administration needs to change course to offer incentives to businesses. "I believe the stimulus you need is a signal to the private sector that it's actually a good time to take a risk and invest right now," Cantor said. National Journal

2. Dismal Jobs Report: Leader Cantor: These Jobs Numbers Are "Pathetic," We Need To Try Something New. "This is terrible. These job numbers are pathetic and I think it just really cries out for us to actually try something new now. We've seen again and again the repeated policies of government regulation, of more prescription coming from Washington, all adding uncertainty. Listen, I was in my district last week down in Richmond and talking to business owners. There's too much uncertainty. They don't know what their tax rates are going to be, they don't know what their health care costs are going to be. Lord knows what kind of regulations one of these agencies in Washington are going to come down with next." CNBC

3. Pro-Growth: Leader Cantor Joins Congressman Tim Scott Encouraging Entrepreneurship To Create Jobs Across America. "There are a lot of differences here in Washington on the part of both parties and we are trying to come together and actually get something done for the people at home who are frustrated because they don't see a better economy coming back. The best thing that we can do is work to create that environment where entrepreneurs will be willing to go take a risk again. The reality is too many people are unemployed in this country, but a lot of those laid off employees actually may want to become employers or entrepreneurs and the question for us as policy makers is how do we go about making it easier for that to happen?" FOX

4. Small Biz: Co-Founder Of Home Depot Highlights Burdensome Regulations Hurting Small Business Lending. "Now take the small business, you have the same thing, those guys are hanging in by the fingernails. They're getting killed by the regulations. They're getting killed by things like Dodd-Frank. If you look at a very interesting statistic -- the banks loaned less money last year, this coming year, than they had before in the previous year. You had TARP, you bailed the banks out, and the banks aren't loaning money. Now who is the recipient of all that, who gets punished? It's the small business guy, he can't borrow money from the banks anymore…The regulators are not approving the loans to small business. And I spoke to bankers about it, the bankers are pulling back they're really not lending money, because the regulators don't like the loans. That's part of this whole regulation issue, which has gone crazy in America." FOX Business Network

5. Keeping Tabs: Flawed ObamaCare Law Standing In The Way Of Lower Health Care Costs And Job Creation, Discouraging Employers From Providing Coverage. According to Roy Ramthun, president of HSA Consulting Services, "There is no disputing the fact that the number of employers offering group health plan coverage to their employees has declined as the cost of providing coverage has increased. It is my opinion that account-based health plans have helped arrest this decline… As employers wrestle with the decisions whether or not to continue sponsoring health insurance benefits, I am uncertain that even account-based health plans can overcome the new employer responsibilities and costs of complying with the Patient Protection and Affordable Care Act."…Because employers have fewer options to control health care costs, many will be forced to make difficult decisions. Red Robin restaurants employ 24,000 workers across 460 locations. William Streitberger, head of human resources for Red Robin, described the choices the popular restaurant chain and job creator faces, stating, "Increasing health care costs through mandates that can negatively impact the ability of companies to offer attractive benefits to employees forces companies like Red Robin to decide either to reduce benefits and maintain affordable coverage or accept the burden of increased company contributions -- limiting our ability to grow the business, attract talented people to our organization and add to our payrolls." Education & The Workforce Committee

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