WASHINGTON, D.C. – At a meeting with President Obama at the White House
this morning, House Republican Leader Boehner (R-OH) gave the President a
statement signed by more than 100 American economists saying immediate
action is needed to rein in federal spending to boost the economy and
create private sector jobs:
“Today I gave the President a statement signed by more than 100 economists urging both parties to cut
spending now to boost private sector job creation. The need is clear.
The May jobs report showed only 41,000 new private-sector jobs. The
national debt is now more than $13 trillion. Congress’ failure to pass a
budget means we’re missing an opportunity to cut spending and provide
the fiscal discipline that economists say is needed to create jobs and
grow the economy.
“If the president won’t push his own party in Congress to produce a budget
and cut spending, then who’s in charge? This is a failure of leadership
– the kind of leadership the president promised to provide. Every
American family knows that in tough times, a budget is even more
important — not less important. It’s time for the President to lead and
the Congress to stop the out-of-control spending right now.”
NOTE: The economists’ statement, along with a cover letter signed by Leader
Boehner, can be seen online here.
Text of cover letter and economists’ statement is pasted below.
June 10, 2010
The Honorable Barack Obama
President of the United States
1600 Pennsylvania Avenue, NW
Dear Mr. President,
Enclosed please find a statement signed by more than 100 American economists urging that bipartisan
action be taken immediately to rein in federal spending in order to
boost our economy and create much-needed private-sector jobs.
Republicans have offered and continue to offer ideas on ways to immediately eliminate hundreds of billions of
dollars in unnecessary spending by the federal government. In
addition, Republican Whip Eric Cantor (R-VA) and I have written to you
on several occasions recently to say we stand ready to work with you in a
good faith manner to force immediate votes in the House on spending cut
legislation you send to Congress using the rescissions authority you
already have as president. But to date, such legislation has been
neither passed by the Democratic leadership nor offered by the
Failing to pass such legislation – and failing to pass a budget in the House this
year for first time since at least 1974 – means squandering an
opportunity to begin to provide the discipline economists say is needed.
Republicans stand ready to work with you to take immediate action to rein in federal spending so
we can begin to boost private sector job creation and end the legacy of
debt being passed on to our children and grandchildren.
John Boehner (R-OH)
House Republican Leader
June 10, 2010
ECONOMISTS TO PRESIDENT OBAMA: REIN IN SPENDING NOW TO CREATE AMERICAN JOBS
The jobs report released last Friday by the U.S. Department of Labor was a source of disappointment and
alarm. Of the 431,000 new jobs in May, 95% were temporary government
jobs created by the Census Bureau. Only 41,000 private-sector jobs were
generated, and the civilian labor force shrank by 322,000. In
addition, 46% of those out of work have been jobless for six months or
longer – the first time in history that such a dire statistic has been
recorded for the American economy. Efforts to spark private-sector job
creation through government ‘stimulus’ spending have been unsuccessful.
Small businesses face an array of new challenges imposed on them by the
federal government, including the threat of tax hikes and the
newly-enacted health law, which will discourage hiring, increase the
deficit, and raise health care costs, according to the chief actuary of
the U.S. Department of Health & Human Services.
As economists deeply concerned about our nation's future, we urge a change in direction. To support real
economic growth and provide the spark needed to support creation of
private-sector jobs, immediate action is needed to rein in federal
spending, prevent job-killing tax hikes through the expiration of
current tax rates, and reverse the harmful effects of the health care
law on small businesses, the engine of job creation in our economy.
We are disturbed by reports that rather than taking such action, Congress will not even propose a budget
this year – the first time in modern history that the U.S. House of
Representatives has failed to even pass a budget. Such a failure will
mark a massive missed opportunity to help our economy grow and create
private-sector jobs. Failing to restrict spending growth will further
balloon the national debt, impede economic growth, and threaten our
nation's long-term economic health.
This issue cannot simply be deferred to a presidential commission. As last week's jobs report illustrates, action
is needed now to begin to slow government spending and support the
creation of new private-sector jobs. For the sake of millions of
Americans who remain out of work – and future generations of Americans,
who will carry the debt burden we are accumulating today – we
respectfully urge that the leaders of both parties take action
immediately to eliminate unnecessary federal spending, prevent tax
hikes, stop regulatory threats to job creation, and enact reforms to put
our nation back on a true path to prosperity.
[Full list of signatories can be viewed at http://gopleader.gov/UploadedFiles/Economist_Statement.pdf]