Congressman Kevin McCarthy On Fox News' "America's Newsroom"
Washington D.C. – Congressman Kevin McCarthy, on the eve of the Obama Administration's failed "Summer of Recovery," discussed House Republican efforts to grow our economy and create jobs through small businesses and entrepreneurs on Fox News' "America's Newsroom," with host Bill Hemmer.
On DNC Chair Wasserman-Schultz's Claim Democrats "Turned The Economy Around":
"I don't know where she's living. She has to get outside of the Beltway. The President last year said 2010 was the 'Summer of Recovery' 1.9 million jobs have been lost since his stimulus plan, gasoline price have gone up 100%, the only thing to go down is our home values. The Democrats don't understand what's transpiring out in America, America is hurting. 28 straight months where unemployment consecutively have been above 8%, comparatively you have to go back to the Great Depression. That is why, there Keynesian view has failed."
"If you have start-ups at an all time low in the last decade, that is where new jobs are created, that is not a turn around that is a peak downward. If you have unemployment numbers going up that is not a turnaround, if you set new numbers where people are out of work longer, that is not a turn around."
On The House Republican Plan To Grow Small Businesses & Create Jobs:
"If you look in the last year, entrepreneurship – new business start up – is the lowest it's been in a decade. When I was 20 years old I started my first business, 70% of all new jobs are started through small business. The lack of capital, the regulation that is holding us back we see time and time again, energy prices, why don't we invest in American energy in American jobs, instead of having fuel go up more 100%, how can you afford to compete from that standpoint."
"First thing we should do is reform our tax code, we have companies with more cash on hand than they have had in the last 50 years, but if they brought that money back to America we would punish them. We charge them 35% where other companies charge them nothing. I believe in repatriation. We have the bill in the House right now, it would let them bring the money back, no money borrowed but corporations would bring this money back and invest in American jobs. That is a fundamental difference in the Democratic plan, where they want to go borrow more money from China to create more government jobs, government does not create jobs the private sector creates jobs."