The Leader's Ledger

Posted by Jessica Straus on

Good morning,

It’s crystal clear the economy still isn’t growing at the pace needed to get Americans back to work; the numbers today show hiring in April was the slowest it’s been in seven months. Small businesses hired only 58,000 new workers – a drop in the bucket with nearly 13 million Americans out of work – and other sectors saw job losses upwards of 5,000. House Republicans have passed solutions to generate private sector job creation by lowering tax rates and removing regulations that prevent businesses from growing. But we can’t do it alone. The economic news won’t get better until we have a willing partner in the White House and the Democrat controlled Senate. They need to join us to promote pro-growth policies that will get the economy moving again and promote job creation.

Today In History: In 1933, the modern legend of the Loch Ness Monster was born when a sighting made local news in Scotland. The newspaper Inverness Courier related an account of a local couple who claimed to have seen "an enormous animal rolling and plunging on the surface." The story became a media phenomenon.

Birthdays: Mika Brzezinski, Kyle Downey, Rep. Robert Turner, David Beckham, Bing Crosby, Donatella Versace, Sarah Hughes, Dwayne “The Rock” Johnson

Here’s what’s in today’s Ledger…

State Of Play: The President’s Failed Economic And Energy Policies Are Impeding Job Creation

New Report: Private Sector Job Growth Anemic In April. Companies added the fewest number of U.S. workers in seven months in April, a reminder the job market will take time to strengthen, a private report based on payrolls showed today. Employment increased by 119,000 following a revised 201,000 gain the prior month, according to figures from Roseland, New Jersey-based ADP Employer Services. Bloomberg

WaPo Editorial: President Obama's Keystone Position "Has Little Rational Basis" Washington Post

Rove: With Failures On KXL And LightSquared, Obama Administration Has Hurt Private Sector Growth, Innovation, Jobs. The Obama administration has made a mess of important opportunities that would provide more jobs and greater prosperity….This will have consequences. Consumers will lose the chance to get better, cheaper wireless service. Owners of tablets, smartphones and other new devices won’t get faster downloads and greater bandwidth. The country would miss out on a valuable infrastructure improvement based on cutting-edge technology. Thousands of workers in construction, steel, transportation and other industries won’t get work, along with the good paychecks that a privately funded $14 billion project like this generates. POLITICO

Reps. Smith & Flores: President Obama’s Failed Economic Policies Have Hit Hispanics Hardest. President Obama's policies have hurt our nation's growing Hispanic population…The unemployment rate for Hispanics is above 10 percent, about 2 points higher than the national unemployment rate. The unemployment rate for young Hispanics aged 16 to 19 is even worse - 30 percent. Mr. Obama's job-killing policies also have harmed Hispanic small-business owners. According to the latest U.S. Census Bureau data, there are 2.3 million Hispanic-owned businesses in the United States. The number increased nearly 45 percent from 2002 to 2007. To help small businesses, we need to reduce the overall tax rate. House Republicans recently introduced and passed legislation to cut the small-business tax rate by 20 percent. Washington Times

Pro-Growth: JOBS ACT Step In The Right Direction For Economic Growth

Tech Leader Says JOBS Act Provides Needed Reforms To Boost Growth. Marc Andreessen says that the real growth potential is in the private markets, not in the public ones. The problem is that in the last ten years there's been additional regulatory load put on companies that makes it harder for them to raise money and go public. But Andreessen is optimistic that the JOBS Act will help change that, saying it should help them raise money, which will in term help them become more successful. He didn't mince words, saying "we need more reform like that." CNBC

VIDEO: Steve Case: Let’s Build On Bipartisan Spirit Of JOBS Act. “I think the JOBS Act, even though it was a small part of the broader economy, even only a piece of the broader entrepreneurship agenda, it was an important thing for entrepreneurship and job creation, and an important signal that maybe people can focus and come together on some things where they do agree it's important. They don't get exactly everything they want, but they move the ball forward in a constructive way. So hopefully we can build on that spirit of bipartisanship. I thought it was great when the President was signing the JOBS Act and Eric Cantor was standing behind him. I think that was a signal that, not just around entrepreneurship, but people want to come together and get stuff done.”Bloomberg

The Road Ahead: Need To Expand American Energy Production Persists

Next Week: Natural Resources Committee To Hold Oversight Hearing On President Obama’s Restrictive Offshore Drilling Plan. “When President Obama took office, nearly 100% of our offshore areas were open to American energy production. Under President Obama’s plan, the majority of our offshore areas will be closed. That’s a direct result of his Administration’s policies,” said Natural Resources Committee Chairman Doc Hastings. “In the face of high gasoline prices and difficult economic times, our nation cannot afford to have President Obama saying ‘no’ to new American energy and new American jobs.” Natural Resources Committee

Keeping Tabs: More ObamaCare Broken Promises Revealed

New Report Reveals ObamaCare Will Force Americans To Lose The Health Care Coverage They Have And Like. “The findings of the report, along with existing research, show that the Democrats’ health care law threatens the stability and sustainability of the employer-based health insurance system,” said Ways & Means Committee Chairman Dave Camp. “Anyone who gets insurance through their job should be worried about what will happen next, because there is a distinct financial incentive for employers to terminate health care coverage under the Democrats’ health care law. It is clear to me that because of this law, Americans will not be able to keep the health care plan they have and like. American workers and taxpayers simply cannot afford to have this law remain on the books.” Ways & Means Committee

Health Care Law Encourages Business To Cut Back Benefits. Ways and Means staff analyzed health care costs at 71 of the Fortune 100 companies. Those firms would save a collective $28.6 billion in 2014 by dropping their health coverage, according to the committee’s report. Over the next decade, they'd save about $6 billion each. Such a move would affect more than 10 million employees and dependents. The health care law requires large employers to pay a $2,000 fine for each employee who buys insurance on his or her own. Paying the fine will often be cheaper than providing healthcare benefits. The Hill

ObamaCare’s False Accounting Adds Billions To The Deficit, Puts Medicare On Fast Track To End. Charles Blahous's study, "The Fiscal Consequences of the Affordable Care Act," published last month by the Mercatus Center, found that the health law would add over $340 billion to federal deficits over the next 10 years. Over the longer term, deficits would run into the trillions. Medicare spending cuts and tax increases have always been double-counted—recorded both on the paygo scorecard and added to the Hospital Insurance Trust Fund. No budgetary rules were bent. But the fiscal stakes in the Affordable Care Act are extraordinarily high. The health law's Medicare hospital insurance spending cuts and tax hikes are now claimed to have eliminated most of the program's medium- and long-term deficits—even as they have also paved the way for the most expensive entitlement expansion in a generation. Wall Street Journal

Off The Beaten Path:

Colleagues, Friends Gather To Honor CBS’ Mike Wallace

To Save The Post Office, Send BEER?

Separated At Birth – The Muppets Meet Their Match In Congress

Werner Herzog Impersonator Interprets Where’s Waldo YouTube


GOP Health Care Reforms