The Leader's Ledger

Posted by Brian Patrick on

Good morning, 

Despite the President’s penchant for political games and campaign speeches, over the weekend, Leader Cantor again emphasized that both parties need to set aside their differences and work on areas of agreement to get to economy up and running. By focusing on policies that have bipartisan support - from tax relief for small business to regulatory relief – we can create an environment for economic growth, job creation, and income mobility so that everyone in this country has a fair shot to earn success.

As Leader Cantor said on Fox News Sunday, “Right now, that there is a complaint about folks at the top end of the income scale that they make too much, and too many don't make enough. Well, we need to both go encourage those at the top of the income scale to actually put their money to work to create more jobs so that we can see a closing of the gap. You know, we are about income mobility and that's what we should be focused on to take care of the income disparity in this country.”

Today In History: In 1835, Texans approve a resolution to create the Texas Rangers, a corps of armed and mounted lawmen designed to "range and guard the frontier between the Brazos and Trinity Rivers."

Birthdays: Eminem, Wyclef Jean, Wood Harris, George Wendt, and Alan Jackson

Here is what’s in today’s Ledger ...

State Of Play: Republicans Stand Ready To Work With President Obama On Areas Of Common Ground 

Leader Cantor: Focus On Income Mobility To Reduce Income Disparity. House Majority Leader Eric Cantor, R-Va., said Sunday that he gets the growing frustration of too many unemployed and underemployed Americans and the need to encourage people at the top of the income scale to "actually put their money to work to create more jobs so that we can see a closing of the gap." "We know in this country right now that there is a complaint about folks at the top end of the income scale, if they make too much, and too many don't make enough," Cantor told "Fox News Sunday." "We are about income mobility and that's what we should be focused on to take care of the income disparity in this country," he said. Fox News

  • Cantor: Republicans Remain Ready To Work With The President On Areas Of Commonality. House Majority Leader Eric Cantor, R-Virginia, meanwhile, indicated there could be agreement on some elements. "Let's work together, let's find some of the things in his plan that we agree with and let's go ahead and do that for the American people," he told "Fox News Sunday." The past week was an indication that "we can come together," Cantor told "Fox News Sunday," citing the passage of three trade bills. Cantor did not make clear exactly where areas of agreement may be. But he cited the need to help small businesses find capital, unemployment insurance reform, and infrastructure spending as broad ideas for which both sides have expressed support. Cantor insisted a plan the GOP has put forward is "for America's job creators." "We're not going to be for tax increases on small businesses," he said of the president's plan. CNN

Dem Admits Republican Energy Initiative Would Create “Tens Of Thousands Of New Jobs.” Take the proposed $7 billion Keystone XL oil pipeline running from Canada to the U.S. Gulf Coast. It would create tens of thousands of new jobs in construction, maintenance and refining. ... With millions of Americans clamoring for employment opportunities, there is no excuse to delay. A study released last month by the Woods Mackenzie research firm found that 1.4 million jobs and $800 billion in new government revenue could be created over the next two decades by removing barriers to increased domestic oil and gas production. These are high-paying jobs, available now, and private industry—not the taxpayer—is making the investment. The Wall Street Journal

State Of Play (2): Instead Of Working Toward Solutions, President Obama Hits The Road For Another Campaign Trip

Priorities? President Obama Starts The Next Leg Of His Campaign. President Barack Obama’s summer Midwestern bus trek was about reconnecting with disaffected independents, but the North Carolina and Virginia road trip that starts Monday is a more narrowly targeted exercise in 2012 politics. ... White House officials say they selected the speaking sites — high schools, community colleges, a military base — because they exemplify places that would benefit directly from Obama’s $447 billion jobs plan. And deputy press Secretary Josh Earnest told reporters on Sunday that talking about the foray in a strictly political context comes from “people in Washington D.C. who are eager to ascribe a political motive to everything the president does.” Yet the trip’s itinerary suggests nothing so much as his 2012 game plan plotted onto a map of the Upper South ... Politico

  • Next Stop Nevada? Nevadans: President Obama’s “Hope” Doesn’t Create Jobs, Doesn’t Put Us Back To Work. Unemployment has grown to 13.4 percent, well above the national average, in recent months. The state has the highest foreclosure rate and record bankruptcies. And shuttered casinos collect dust along the glittering Las Vegas Strip that's usually a robust artery of jobs. "Obama's hope hasn't done anything," grouses Larry James, a security guard who moved here from Philadelphia for work a decade ago, back when the state was booming. ... She [Rachel Kauffman] doesn't know who she will vote for next fall. But she knows this much: "We can't take four more years of this." The Associated Press

The Road Ahead: With Washington Churning Out Over 4,000 New Regulations, Bipartisan Support Mounts For Regulatory Relief

Former Dem Congressman: It’s Time For A Real Regulatory Review, Over Burdensome Regulations Continue To Stifle Job Creation and Economic Growth. The government's fundamental responsibility here is simply enabling American business to succeed. The president's decision to roll back the Environmental Protection Agency's ozone process was the right call, but that's just one of more than 4,000 new rules being promulgated by Washington. There's much more rolling back to do. Former U.S. Senator Blanche Lincoln has argued forcefully in favor of an independent review process for proposed regulations. If the costs outweigh the benefits, they should be eliminated. In the meantime, a moratorium on new regulations that don't immediately protect public safety is a reasonable step that could be taken until our economy gets back on its feet. The Wall Street Journal

ObamaCare Update: The Administration Abandons A Major Portion Of ObamaCare

CLASS Dismissed: Long-Term “Deficit Reducing” Care Program In ObamaCare Abandoned By The Administration. The Obama administration cut a major planned benefit from the 2010 health-care law on Friday, announcing that a program to offer Americans insurance for long-term care was simply unworkable. … Because the insurance program had been projected to reduce the federal deficit by $86 billion over the next 10 years, terminating it complicates the nation’s budget picture. It is now estimated that the health-care law will cut the deficit by $124 billion from 2012 to 2021, according to the Congressional Budget Office. Actually, plenty of Obamacare opponents said from the beginning that the Community Living Assistance Services Act, better known as CLASS, was a two-fold sham. First, because it would be unworkable, as the Obama administration now concedes. And second, because it was included only as a numbers-rigging exercise to make Obamacare marketable as a net reduction in federal deficits. ... It’s the latest example of why Nancy Pelosi’s “pass it to find out what’s in it” statement will go down in infamy. The Atlanta Journal-Constitution

GOP Health Care Reforms