January Jobs Report
Federal spending drops, spurring American economy
by Pete Sessions on February 6, 2015 at 10:59 AM
I have always firmly believed that the economy does best when we get government out of the way so that the free-enterprise system can thrive. Today’s jobs report helps prove that this belief holds true today. Federal spending was 24% of GDP in 2011 when our economy was struggling and before Republicans took over the House of Representatives. Four years later and thanks to Republican spending victories, federal spending has dropped below 20% of GDP. In turn the American economy has begun emerging from the Obama-Pelosi-Reid era of massive government spending and America is finally seeing positive signs in the job market.
However, the President’s policies continue to keep our economy from achieving the growth that Americans need and deserve. Just this week the President released his budget proposal that looks more like a liberal campaign proposal than a serious plan to rein in government spending and get our fiscal house in order. The President’s budget raises spending by 9%, or $74 billion annually, proposes higher taxes on American families and businesses, and never balances. These are not solutions - these are worn out big government policies that have proven to be ineffective and will further damage any hope of a full economic recovery.
I proudly represent a state that understands that high taxes and onerous regulations do not lead to economic growth and job creation. Texas has been coined the “Great American Job Machine” because it is almost exclusively responsible for the net increase in jobs in the United States since 2007. Texas’ rejection of liberal Washington mandates and the belief that individual opportunity is the key to success fuels our economic success. I believe that if we follow Texas’ gold standard example we will have the opportunity to get our country back on track. With our new Republican Congress I look forward to working with my colleagues in both the House and the Senate to support solutions that reinvigorate our economy, promote job creation, and put America’s families first.