Millions of Americans are out of work and uncertainty continues to stifle growth, but all the President and his party have to offer is tax hikes and more stimulus-style spending. People in this country aren't buying this approach, and a new Bloomberg poll shows that fewer than 44% of Americans believe they were better off before President Obama took office and only 10% believe job growth can return to pre-recession levels in the next two years. House Republicans recognize that we cannot continue down the current path and have been consistently focused on growing the economy, getting our fiscal house in order, and doing everything we can to grow jobs and get people back to work.
As part of our Plan for America's Job Creators, today in the House we will begin consideration of the America Invents Act, legislation that will reform our outdated patent system, allowing entrepreneurs to launch their products more efficiently, drive economic growth and create jobs. Our nation’s entrepreneurs and innovators are the engines of economic growth and we must make sure they have a patent system that allows them to compete in the 21st century global marketplace. This bipartisan bill will allow inventors to capitalize on their ideas, expand their businesses and create jobs.
Today In History: In 1937, Joe Louis wins the world heavyweight boxing title when he defeats American Jim Braddock in an eighth-round knockout. During his subsequent reign, the longest in the history of the heavyweight division, Louis successfully defended his title 25 times, scoring 21 knockouts.
Birthdays: Kurt Warner, Donald Fasion, Carson Daly, Kris Kristofferson, Cyndi Lauper and Clyde "The Glide" Drexler
Here is what’s in today’s Ledger ...
State Of Play: Cantor Calls On President Obama To Step Up On The Debt Limit
Leader Cantor: My Position Has Been Very Solid, We Are Not Raising Taxes. House Majority Leader Eric Cantor, one of two Republicans involved in the talks, reiterated Tuesday that the GOP won't stand for tax increases. And he belittled lesser efforts to boost federal revenues, such as by eliminating tax breaks for oil and gas companies. "In these discussions, we have all said everything should be on the table. They continue to say we need to raise taxes. My position has been very solid we are not raising taxes. There are no votes to raise taxes in the House," Cantor said. USA Today
Leader Cantor Calls On President Obama To Step Up On The Debt Limit. “The onus is really on the president and his party I think to step up and show they’re willing to do that, because we’ve said all along it is as reckless for us to just check the box and raise the debt limit and not reform the system and cut spending, as it is for us to just abandon the thing altogether,” Cantor added. ABC News
- Cantor Rejects Idea Of A Short-Term Debt Limit Increase. House Majority Leader Eric Cantor on Tuesday dismissed the notion of pursuing a short-term increase to the debt limit, saying he sees no utility in delaying deep cuts to spending that will be needed for a long-term deal. “I don’t see how multiple votes on a debt limit increase can help us get to where we want to go,” the Virginia Republican told reporters Tuesday. Roll Call
Pro-Growth: The Majority Of Americans Agree With The Republican Approach To Get People Back To Work
55% Of Americans Believe Cutting Spending and Lowering Tax Rates Will Give Businesses More Confidence To Hire. Republican criticism of the federal budget growth has gained traction with the public. Fifty-five percent of poll respondents say cuts in spending and taxes would be more likely to bring down unemployment than would maintaining or increasing government spending. Politico’s Playbook
- In Contrast - President Obama’s Economic Policies Have Decreased Confidence, Increased Uncertainty, and Stifled Innovation. The other challenge is simply confidence. Businesses aren't hiring because they're uneasy about the future. There's no easy way to instill confidence, but we know how to kill it—create uncertainty about taxes and regulations. Reducing that uncertainty would certainly help. In the meanwhile, enjoy the ATM machine and the kiosk at the airport with a clear conscience. Doing more with less is the road to prosperity. When confidence returns, even more Americans will share in the bounty from innovation. The Wall Street Journal
Bringing The HEAT - Rep. Steve Scalise: Why Does President Obama Continue To Focus On Energy Policies That Destroy American Jobs and Raise Prices At The Pump? “As Americans across the country have been expressing their frustrations with the skyrocketing gas prices we’re seeing. They’ve also been looking at the policies of President Obama’s Administration, and asking – Why is it that the President continues to run jobs out of our country while also reducing America’s energy security, and passing policies that have led to these higher gas prices?” Watch The Video HERE
The Obama Economy: President Obama Economic Policies Have Failed To Get The Nation Back On Track
Less Than 10% Of Americans Believe The Economy Will Recover In The Next 2 Years. The gloom covers the immediate future, with fewer than 1 in 10 people expecting unemployment to return to pre-recession levels within the next two years, and it extends to the next generation. More than half of respondents say their children are destined to have a lower standard of living than they do, upending a traditional touchstone of the American Dream. Bloomberg
Only 23% See Improvement In The Economy. Just 23 percent of those surveyed for a Bloomberg News poll released Wednesday say they are hopeful about the economy because they see signs of improvement, while 25 percent say they are fearful things are getting worse and 51 percent are cautious because nothing seems to be happening. Politico
- 66% Of Americans Believe The Nation Is On The Wrong Track. Twenty-five months into what was supposed to be the economic recovery of the Obama-Biden administration, the poll finds a whopping 66% of Americans believe the country is on the wrong track. The Los Angeles Times
- 55% Of Americans Say Their Children Will Have A Lower Standard Of Living Than They Have Today. Even worse for national leadership campaigns that usually rely on morning in America optimism for success, another 55% of poll respondents say their children are condemned to a lower standard of living than their parents have today. The Los Angeles Times
- 44% Of Americans Feel They Are Worse Off Now Than When President Obama Took Office. By a 44 percent to 34 percent margin, Americans say they believe they are worse off than when President Barack Obama took office in early 2009, when the U.S. was in the depths of a recession compounded by the September 2008 financial crisis and the economy was losing as many as 820,000 jobs a month. Bloomberg
Economic Outlook: Obama Nominee Says NLRB Is Wrong On Boeing
Obama Commerce Nominee: The NLRB Came To The Wrong Conclusion. Republicans asked Bryson about the National Labor Relations Board's suit against Boeing, which accuses the aircraft builder of opening a plant in South Carolina in retaliation against union workers in Washington state who went on strike in 2008. Sen. Jim DeMint, R-S.C., said the NLRB action was "an unprecedented violation of a company's ability" to locate its facilities where it wants to. "I think it's not the right judgment," Bryson said of the NLRB suit. He said Boeing officials were surprised by the legal action and said they believed they were "doing the right thing for the country" by keeping jobs in the U.S. and not moving them abroad. ... Democrats defended Bryson as someone who understands business' needs, with committee chairman Sen. Jay Rockefeller, D-W.Va., saying, "He has the kind of ability that will create jobs in America." The Associated Press
The Road Ahead: Republicans Challenge Senator Reid Act On House Passed Legislation
Reps. Aderholt and Culberson: What Is The “Do-Nothing” Senate Waiting For? It’s Time For Them To Start Acting On House Passed Bills. Twenty days ago, the House passed appropriations for the Department of Homeland Security; nine days ago, we passed the military construction appropriations bill through the most open process possible — with bipartisan support. These bills now join the growing backlog of responsible spending measures the Senate is waiting to consider. What are they waiting for? Where is the Senate’s DHS appropriations bill? Have they forgotten about the numerous disasters affecting communities all across our country? Or the ever-present threat of terrorist attack? Where is their military construction appropriations bill for fiscal year 2012? Have they forgotten the importance of funding our military bases and veterans operations? Senate leadership needs to know that the American people elected them to do just that — lead. Politico
Getting To Know The Freshmen
Alan Nunnelee: Rep. Nunnelee represents Mississippi’s First District and makes his home in Tupelo. He and his wife of 29 years, Tori, have three children, Reed, Emily Thompson and Nathan. The district includes suburban Memphis and rural North Mississippi. Its economic base is in distribution, manufacturing, and agriculture. While attending college, Alan lost his eyesight due to a disease. As the result of two cornea transplants, he now is able to see. Because of this experience, he admires Helen Keller, and her observation, “The thing worse than being blind is to be able to see yet have no vision”. (Courtesy of The Whip’s Office)
Off The Beaten Path
Colorado Police Seek Man Who Hid Inside Portable Toilet – Reuters
Time’s Up: Man Attempts To Ship Over 100 lbs Of Marijuana In Wooden Clocks – The Chicago Tribune
Penguin Takes A Wrong Turn, Ends Up On A New Zealand Beach – ABC News