The Leader's Ledger

State Of Play: Cantor Calls For Focus On Areas Of Agreement On Job Creation

Leader Cantor: There Are Areas Of Agreement Regarding Job That Both Sides Can Agree. Another area for agreement could be common-sense initiatives to repair and improve our infrastructure. Currently, states such as Virginia are required to set aside 10 percent of their surface-transportation funds. These funds are required to be used on projects like transportation museums, educational programs for pedestrians and the operation of historic transportation facilities. While some of these may be worthy projects, the federal government often cannot distinguish the most pressing needs for an individual state. These are dollars that we could use on projects of greater importance without adding to our deficit. This would prioritize the way transportation money is invested, giving governors more flexibility and control over the types of projects that best suit their citizens. ... Finally, manufacturers need our help. The more that they are able to export, the more they produce. The more that those manufacturers produce, the more workers they need. This means job creation. We can immediately expand markets for Virginia small businesses and manufacturers by passing three pending trade agreements, with Colombia, Panama and South Korea, which would — according to the Obama administration — support the creation of 250,000 jobs. Richmond Times-Dispatch

• Cantor: President Obama's All or Nothing Mentality Is Not A Serious Way To Accomplish Policy Results. “My question in reflecting on the President's performance tonight is the approach he took. It was presented as an all or nothing package. The President needs a win here. The people of the country need a win. They are hurting. We all know the unemployment numbers. We know that people are just plain out of money and out of hope. It is just striking to me that the President would lay down the gauntlet and say, pass my package, all or nothing, especially after all we've been through. There was plenty in there policy-wise things that resonates with the Republicans. When you start talking about tax relief for small business owners, that is something that we've been talking about for several years now. When you start talking about streamlining bureaucracy, so you can get more bang for the buck, in infrastructure spending, that’s fine. He mentioned a program in Georgia, having to do with unemployment benefits. That Georgia Works program was something we've been talking about since December 2009. So there certainly are some things I think we could get a win on together for the people. But when he says it is all or nothing, that is not how things can get done. That's not a serious way to accomplish policy results.” Fox News’ Hannity

Whip McCarthy: I Urge President Obama To Call Upon Senate Majority Leader Reid To Bring House Republican Jobs Bills To The Senate Floor. It is encouraging, however, that the President is committed to engaging on policies that promote job creation. I believe that we have an opportunity to work together to foster an environment that empowers entrepreneurs and small businesses, making it easier for them to grow and create jobs. As a part of our job creation agenda, Republicans have passed 11 bills out of the House of Representatives ... I urge President Obama to call upon Senate Majority Leader Harry Reid to bring these bills to the Senate floor for consideration, so that we can get our economy back on the right track. The Hill

State Of Play (2): President Obama Offers More Stimulus Style Spending, Fails To Give Specifics On How It Will Be Paid For

President Obama Offers “Stimulus Lite.” President Barack Obama's much-anticipated plan for putting Americans back to work turns out to be a scaled-down version of his original stimulus package, which is well on its way to becoming one of the most monumental economic policy failures in the nation's history. ... The promise from Obama was that the massive spending jolt would shock the nation out of the deepest recession since World War II, take unemployment below 8 percent and produce robust and sustained growth. Today, the economy is struggling to maintain a barely 1 percent annual growth rate, unemployment has risen to 9.1 percent and 2.4 million more jobs have disappeared. The Detroit News

President Obama Fails To Lay Out The Taxes He Will Raise, What Spending He Will Cut To Pay For His Proposal. President Barack Obama's promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions. Obama did not spell out exactly how he would pay for the measures contained in his nearly $450 billion American Jobs Act but said he would send his proposed specifics in a week to the new congressional supercommittee charged with finding budget savings ... but they did not specify what would be cut or what revenues they would use. The Associated Press

• It’s Hard To See How President Obama’s Plan Would Not Add To The Deficit. OBAMA: "It will not add to the deficit." THE FACTS: It's hard to see how the program would not raise the deficit over the next year or two because most of the envisioned spending cuts and tax increases are designed to come later rather than now, when they could jeopardize the fragile recovery. Deficits are calculated for individual years. The accumulation of years of deficit spending has produced a national debt headed toward $15 trillion. Perhaps Obama meant to say that, in the long run, his hoped-for programs would not further increase the national debt, not annual deficits. The Associated Press

• Even Supporters Of The President’s Infrastructure Bank Doubt It Will Have An Immediate Impact On Jobs. OBAMA: "The American Jobs Act answers the urgent need to create jobs right away." THE FACTS: Not all of the president's major proposals are likely to yield quick job growth if adopted. One is to set up a national infrastructure bank to raise private capital for roads, rail, bridges, airports and waterways. Even supporters of such a bank doubt it could have much impact on jobs in the next two years because it takes time to set up. The Associated Press

Results Of The First Stimulus: 2 Million Fewer Jobs Since President Obama Touted The Stimulus In February 2009. The speech mostly gave us a sense of déjà vu. From the president’s language, you would never know that Congress already has acted under his watch to save jobs — the $800 billion stimulus plan passed shortly after he took office. “Over the next two years, this plan will save or create 3.5 million jobs,” Obama proclaimed in a speech to a similar joint session of Congress on Feb. 24, 2009. We’re not sure about the jobs saved part, but the country has certainly not created jobs since then — there are almost 2 million fewer jobs since he made those remarks 2 1/2 years ago. That gives a sense of the economic burden he will carry into his reelection campaign. The Washington Post

Job Creation: Senate Passes A Key Provision Of The House Republicans’ Pro-Growth Jobs Plan

Democrat Controlled Senate Overwhelming Supports House Republican Jobs Bill. In a 89-9 bipartisan vote, the Democratic-led Senate passed the measure which had cleared the Republican-led U.S. House of Representatives in June. The legislation would allow the U.S. Patent and Trademark Office to set its own fees and to do the hiring and technical upgrades needed to catch up on a backlog of nearly 700,000 patent applications. The measure would also grant patents to the first inventors to file, rather than requiring inventors to show they were the first to develop an innovation. Reuters

• Leader Cantor On Senate Passage Of The Pro-Growth America Invents Act. “I am glad the Senate has finally acted on this pro-growth legislation, which is a key part of the House Republicans’ jobs plan to spur growth in this economy so that we can see more jobs created. This bipartisan bill will allow inventors and entrepreneurs to more efficiently launch new products by streamlining the nation’s patent system and addressing the current backlog of 700,000 patents. I look forward to President Obama signing this bill into law so that businesses can innovate, compete, and create jobs to get Americans back to work.” Majority Leader Cantor

Whip McCarthy: Washington Must Do Everything It Can To Get Out Of The Way Of Job Creators. House Republicans have laid out a plan to address regulatory burdens that have tied the hands of small business owners and prevented job growth. By halting these onerous federal regulations, we can help promote the certainty that these employers need in order to begin hiring and growing their businesses again. ... Washington must do everything it can to get out of the way of job creators that are truly the engine of this economy, and foster an environment where jobs can grow. The Hill

Keeping Tabs

President Obama Echoes Leader Cantor’s Sentiment That In America, Everyone Should Have A Fair Shot At The Opportunity To Succeed. Throughout his speech, Mr. Obama made repeated references to Republican plans and ideas, and even used a phrase similar to that employed by House Majority Leader Eric Cantor of Virginia when he talked about American's getting their "fair shake." The Wall Street Journal

Off The Beaten Path

Family Ties: Duck Goes With “Dad” To The Pub, Watches Rugby Matches – The Daily Mail

Pet Insurer Hands Out Award For Oddest Claim – ShortList