With employment at 9.1% and ZERO jobs created in the past month, America is facing a serious jobs crisis. When President Obama took office, national unemployment was at 7.8 percent. Despite pledging to get the economy on track, the President’s agenda of federal regulatory overreach, a costly stimulus package, and lack of focus on the private sector, has resulted in 1.7 million fewer jobs at a time when Americans need them most.
For the past eight months, House Republicans have been squarely focused on creating an environment for economic growth and making it easier for businesses and entrepreneurs to grow and create jobs. Our Plan for America’s Job Creators provides specific proposals to boost private sector job creation, and our fall legislative agenda will focus on repealing unnecessary job-destroying federal regulations that are stifling the ability of businesses small and large to grow and hire. Tomorrow, the President will finally put forward his jobs plan, and we hope this time the President is ready to put job creation ahead of his own political rhetoric and join us in helping get Americans back to work.
Today In History: In 1813, the United States gets its nickname, Uncle Sam. The name is linked to Samuel Wilson, a meat packer from Troy, New York, who supplied barrels of beef to the United States Army during the War of 1812. Wilson stamped the barrels with "U.S." for United States, but soldiers began referring to the grub as "Uncle Sam's." The local newspaper picked up on the story and Uncle Sam eventually gained widespread acceptance as the nickname for the U.S. federal government.
Birthdays: Buddy Holly, Evan Rachel Wood, Gloria Gaynor, and Corbin Bernsen
Here is what’s in today’s Ledger ...
State Of Play: President Obama Calls For More Stimulus, Future Tax Hikes
President Obama’s Latest Stimulus Push - $300 Billion In Spending Now, Raise $300 Billion In Taxes Later. In his speech Thursday, President Obama will ask Congress to pump $300 billion into the economy ... the president will reportedly ask Congress to offset the cost of these measures by raising tax revenues in later years. So far, White House Press Secretary Jay Carney has refused to discuss any details of Obama’s plan, except to say it will include “some proposals you have not heard us talk about.” The Daily Beast
State Of Play (2): Republicans Focused On Removing Regulatory Barriers To Job Creation
Majority Leader Cantor: Republicans Are Focused On Stopping The Federal Government From Making It More Difficult For Small Businesses To Create Jobs. With Congress now back from its summer break, Republicans will "focus on how we stop the federal government from making it so difficult for small business people to create jobs," said Majority Leader Eric Cantor, R-Va. The Associated Press
Business Leaders: Stop The Implementation Of Job-Destroying Regulations. Many of their suggestions are familiar. The CEOs want lower corporate taxes in the U.S., which has among the highest tax corporate tax rates in the world, and a moratorium or a rollback of business regulation. "The government needs to be a better partner with the business world," said Magellan Health Services CEO Rene Lerer, echoing a sentiment expressed by many. ... James Turley, chairman and CEO, Ernst & Young: "Remove governmental regulatory policy uncertainty through 2013 by halting initiation or implementation of regulations when such regulations could harm job or economic growth." The Wall Street Journal
- CEO: From A Regulation Standpoint, Government Just Needs To Get Out Of The Way. We asked several CEOs leading up to the speech what bold steps Obama could take to reduce the 9.1 percent unemployment rate. John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy." "I think that's a message from across the board," said Schiller. CNBC
Growth: House Republican Leadership Calls On President Obama To Stop Stalling The Free Trade Agreements, Job Creation
Speaker Boehner & Leader Cantor: Further Delay By President Obama On The Bipartisan Job-Creating Free Trade Bills Is Unacceptable. Free trade agreements: Despite President Obama’s misleading statements to the contrary, Congress is not “holding up” the passage of three long-stalled trade agreements with South Korea, Panama,, and Colombia, which by the administration’s own account would help create up to 250,000 jobs. In fact, the president has yet to present them to Congress for ratification. “The House is ready — and has been ready — to pass these free-trade agreements, in tandem with separate consideration of Trade Adjustment Assistance legislation, as soon as you send them to Congress,” they write. “Further delay of these bipartisan job-creating trade bills is, in our view, unacceptable.” National Review Online
Whip McCarthy: President Obama Continues To Mislead On Trade, Prevent Hundreds Of Thousands Of American Jobs From Being Created. Right now, there are three pending export agreements negotiated by the White House that could create and support thousands of jobs. But after two years of delay, the Obama administration still has not sent them to Congress for consideration. These free-trade agreements with Colombia, Panama and South Korea would have a significant positive effect on our economy. They would support 250,000 jobs spanning all sectors of our economy, including manufacturing, services and agriculture, according to the administration’s own calculations. Every $1 billion in new exports of U.S. goods supports up to 6,000 additional jobs here at home. ... The reality is that the White House messaging on trade is misleading: While the president was on his taxpayer-funded bus tour, giving lip service to job creation, he was trying to obscure the fact that he has stalled these job-creating trade agreements because of partisan political concerns. Politico
Fact Checker: President Obama’s Whopper Of A Claim Regarding Tax Cuts. Obama’s claim of having passed the “biggest middle-class tax cut in history” is ridiculous. He might have been on more solid ground if he had claimed the “broadest” tax cut, but that doesn’t sound very historic. We went back and forth over whether this was a three or four Pinocchio violation, until we found evidence that Obama knew he was saying a whopper. Here’s how he put it in his 2010 State of the Union speech: “We cut taxes for 95 percent of working families.” That phrasing, at least, would not have been so misleading. The Washington Post
Off The Beaten Path
40 Year Flashback - 3D Animated Film From The President Of Pixar – The Nerve
PSA: People Can Protect and Deter Bears From Their Homes By Installing Round Door Knobs That Are Harder For Bears To Open – Denver Post
Biden: The Onion Got It Wrong ... The Car In The Driveway Would Be A Convertible – Car and Driver