“The persistence of slow growth and unacceptably high unemployment demonstrates the failure of this administration’s attempts to revive the economy by artificial means... Our inability to honestly budget got us into this mess. But the Democrat-led Senate, which has not passed a budget plan in 765 days, has decided this year not to present a budget plan at all... They are unwilling to produce a budget because they are unwilling to accept our fiscal reality. It's the hubris of big government.”
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, issued the following statement today after new government figures revealed that unemployment rose to 9.1 percent last month:
“The persistence of slow growth and unacceptably high unemployment demonstrates the failure of this administration's attempts to revive the economy by artificial means. In reality, any claimed positive effect of such actions is inherently offset by an equal negative reaction. Among these reactions is the economic instability fostered by dramatic government interventions. It should be known to all by now that there is no quick fix. The solution is to return to the tried and true, the proven principles that have made our economy great—governmental restraint, spending discipline, and free enterprise. The economic plan for more government, more taxing, more spending, and more reckless borrowing must be stopped. This approach shatters economic confidence and threatens our economic future.
The massive surge in federal spending has failed. Instead of creating jobs it destroyed them. Instead of strengthening our infrastructure it robbed us of resources. Instead of expanding prosperity it has burdened us with hundreds of billions of dollars in rising interest payments. The record from the last two and a half years is clear. Unemployment is up. Gas prices are up. Health care costs are up. The housing market is falling again. Our credit rating is in jeopardy. Even meager growth rates are slumping as some warn of another double-dip recession. And the country is heading for 'the most predictable economic crisis in its history' if Washington's Democrat majority retains its fierce opposition to working on an effective budget and imposing fiscal discipline.
Our inability to honestly budget got us into this mess. But the Democrat-led Senate, which has not passed a budget plan in 765 days, has decided this year not to present a budget plan at all. One prominent liberal writer even described it as a 'dereliction of duty.'
We've spent $7.1 trillion since the Senate's Democrat majority last passed a budget, and added $3.2 trillion to our gross federal debt. By the end of the first three fiscal years of the Obama administration our gross federal debt will have grown around $5 trillion. Democrat leaders refuse to recognize limitations. They are unwilling to produce a budget because they are unwilling to accept our fiscal reality. It's the hubris of big government. The president still will not acknowledge the depths of our crisis— perhaps because he fears giving momentum to those pressing for needed change.”
[Note: Additional background follows:
The May job’s report fell well short of expectations.The consensus view of economists was for a gain of 165,000 jobs, 111,000 more jobs that the economy actually created. May marks the worst jobs report in eight months.
The percentage long-term unemployed (those unemployed for 27 weeks or longer) jumped nearly two percentage points to 45.1.
The unemployment rate increased to 9.1 percent from 9.0 percent. However, the unemployment rate not does take into account those who are underemployed or have become discouraged. Including those part time and discouraged workers would boost the underemployment rate to 16.1 percent.]