The Leader's Ledger

Posted by Jessica Straus on

Good morning,

While it’s encouraging that slightly fewer Americans applied for unemployment benefits last week, the real news is that the economic growth is still too slow to generate enough good-paying jobs. Underemployment went up to 18.2% in April, and as Jim Pethokoukis pointed out, the jobless recovery is also an “income-less recovery.” Take-home pay hasn’t grown over the past two years and 95% of Americans have seen their debts rise and incomes fall. Americans are facing high debt, high gas prices, and uncertainty in the job market, which is why House Republicans are committed to advancing pro-growth tax cuts and repealing harmful regulations to spur job creation and boost wages.

Today In History: In 1469, the Italian philosopher and writer Niccolo Machiavelli was born. Machiavelli entered the political service of his native Florence by the time he was 29 and became one of the fathers of modern political theory.

Birthdays: Rep. Ralph Hall, Marisol Garibay, Polson Kanneth, Willie Geist, Christina Hendricks, Frankie Valli, James Brown, Sugar Ray Robinson, Nina Garcia

Here are the Top 5 things you need to know today…

1. Leader Cantor: Virginia’s Pro-Growth Environment Policies Presents A Clear Contrast To The Obama Administration. “In Virginia, what is a constant is our very pro-business mentality,” Cantor said. “Candidates of either party have always run on a message that we’re open for business. And this election is about rejecting an administration that has been hostile to small business.” Politico

2. At Microsoft’s Home of the Future, Leader Cantor Talks About Spurring Innovation & Growth. Leader Cantor said, “Washington ought not to be in business at the capitol, of choosing which innovations are best. That is left up to people in the markets, but our job is to try and sense what we can do to build a better climate for innovation like this.” FOX 13 Seattle

3. Facing A Faltering Economy, Small Business Owners Are Hesitant To Hire. Many small business owners aren’t hiring or expanding because the outlook for the economy, or their own companies, is uncertain. That raises the question of whether small businesses will give the economy the boost that it needs. Economists say that in past recoveries, small companies were the first to hire. When the economy was improving, they were more nimble than large companies because they didn’t have the bureaucracy that can slow the hiring process. Their hiring helped propel the economy forward. The economy is growing, but that growth has slowed — and so has the pace of hiring among business with less than 500 employees. AP

4. Small Biz Council: JOBS Act Helps Boost Businesses From Almost Every Industry. Karen Kerrigan, president of the Small Business & Entrepreneurship Council, said that for small businesses strapped for startup cash, access to fundraising platforms can’t come soon enough. The president’s signing of the JOBS Act has given small businesses a much needed boost of optimism in a lagging recovery, Kerrigan said. …“Businesses from almost every industry that have an established consumer base and can demonstrate the potential for growth will have a place in these platforms,” she said. “It’s a dynamic marketplace, and any business will be able to benefit.” FOX Business

5. ObamaCare’s Broken Promises: Government Takeover Will Increase The Cost of Health Care Coverage. Thanks to ObamaCare, more people will find themselves without health insurance. It turns out President Obama's signature accomplishment was so badly drafted that businesses are likely to find it more cost-effective to pay a government penalty than provide insurance to their employees. As a result, up to 6 million Americans with jobs could either be forced to find more expensive individual plans or go uninsured and pay the individual-mandate fine. …"The law offers employers a financial incentive to drop, not keep, offering coverage to their employees," the committee's chairman, Rep. Dave Camp, Michigan Republican, told The Washington Times. "When it comes down to the bottom line, companies could save billions of dollars by ceasing to offer health insurance while simultaneously placing millions of Americans on taxpayer-funded exchanges." Washington Times Editorial

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