McCarthy: Record Deficits & Double-Digit Unemployment Unacceptable
Washington D.C. – Today, Congressman Kevin McCarthy issued the following statement after the U.S. Department of Labor announced unemployment for November at a double-digit rate of 10%.
“Even with a 0.2% modest decrease in unemployment, the fact remains that record deficits and double-digit unemployment levels are absolutely unacceptable for hardworking American families and job-creating small businesses. Instead of President Obama and Speaker Pelosi’s laundry list of job-killing proposals, including credit restrictions through a financial services czar, billions of dollars in bailouts, a risky trillion dollar health care bill that raises billions of dollars in taxes on small businesses, a failed $1 trillion stimulus, the largest spending budget in American history, and a national energy tax, we need a new economic direction. Now is the time for common-sense solutions that will create American jobs.
“To help put Americans back to work and grow our economy, we can focus on better solutions that reinvigorate America’s entrepreneurial spirit instead of the same failed and stale ideas that are being proposed in a second stimulus bill. America can get more with less: more confidence and more jobs will come with less Washington regulation and less spending.
“Speaker Pelosi wasted no time in passing the first failed stimulus. Now, 11 months later, Congress needs to channel that same energy to pass real, common-sense solutions that will jumpstart our economy.”
Pelosi Endorses Using TARP Bailout Funds for Second Economic Stimulus
Congressman McCarthy introduced H.R. 2119 in April to ensure that repaid Troubled Asset Relief Program (TARP) funds pay off the taxpayer first and go directly towards paying down our national debt.