“On the surface, news that over 400,000 jobs were created in May would seem promising. However, discovering the vast majority of new hiring was done by the federal government’s Census Bureau for temporary and low-wage work is disappointing. Last month, only 41,000 new jobs were added in the private sector. Even more troubling is the fact 46% of unemployed Americans have been without a job for 6 months or more, the highest rate ever recorded.
"Over a year after its enactment, the so-called Stimulus bill has clearly done little to spur private sector job growth and has tragically convinced some Americans that stagnant employment figures are something to celebrate.
"If Congress were serious about helping create sustainable jobs, it would embrace an agenda that encourages American businesses to grow. Instead, Washington has spent tax dollars irresponsibly while borrowing profusely, established costly mandates and somehow managed to make the current tax code more onerous, confusing and burdensome. Rather than developing an environment in which businesses feel confident and secure in expanding, these actions have created a tepid economic climate of uncertainty and doubt.
"Every week I visit employers of all sizes throughout the 15th District. At each location, business leaders provide me the same message to take back to Washington: combat excessive spending and borrowing, and resist implementing expensive mandates and confiscatory tax policies.”
If things are bad now, wait until the impact of the Gulf oil spill ripples its way into the job market.