Olson Statement on 9.7% Unemployment Numbers
Rep. Pete Olson today issued the following statement after the Bureau of Labor Statistics reported that the U.S. economy lost 216,000 jobs in August, raising the unemployment rate to 9.7%, the highest level in twenty-six years:
â€œPresident Obama promised that intense federal spending and massive government takeover of major industries was the cure to what ails our economy. Yet today we see that it not only hasnâ€™t delivered the jobs and economic recovery this nation needs, but instead we are still seeing record high monthly unemployment numbers and face a staggering $9 trillion deficit over the next 10 years.
â€œThe White House needs to look in a different direction for solutions. Republicans have proposed providing tax relief for working families, small business tax deductions equaling 20% of their income, and making unemployment benefits tax free so that those individuals between jobs can focus on providing for their families. These options would be important steps in the right direction for economic recovery.
â€œWe have tried the Administrationâ€™s plan of spending (and eventually taxing) our way into prosperity, itâ€™s worth a chance to try another way that addresses immediate spending concerns for families and unleashes a small business friendly environment to grow jobs in a struggling economy.â€