Today, the Congressional Budget Office (CBO) released a report that the economic recession will continue for years. This news, while not a surprise, should be addressed with much concern by members of Congress. Unemployment numbers continue to rise, and Congress is not doing much to address this issue (lack of solutions…I guess). Rep. Gerry Connolly (D-Va.) has been silent on the continuing economic situation, not addressing how he would boost employment or generate economic growth.
Meanwhile, Keith Fimian has called Connolly and the Democrats in Congress for not addressing the economic situation.
“Since December 2007, the US economy has lost more than 8 million jobs, and Gerry Connolly, Nancy Pelosi, and the rest of the career politicians in Congress simply do not have the answers for our economic woes,” Fimian said. “Unfortunately, their policies and lack of attention to the economy have made matters worse.”
CBO analysts predict that the economy won’t fully recover for years and the unemployment rate is likely to remain above 5 percent for 6 years.
“Pelosi and Connolly promised that the $862 billion stimulus plan would keep unemployment from surpassing 8 percent,” Fimian said. “Not only has unemployment surpassed that, but the only thing Connolly’s plan has accomplished is skyrocketing budget deficits, staggering debt, and the likelihood that taxes will be dramatically increased to pay for hundreds of billions of dollars in reckless spending.”
“Since the failed stimulus passed, Congress has completely ignored the economy. Instead of implementing policies to foster an environment favorable to job growth, they have pursued an extreme ideological agenda of government takeover after government takeover while families and small businesses suffer,” Fimian added.
“As a small business owner and entrepreneur, I know how we can rapidly turn our economy around, but first, politicians must start doing good,” Fimian said. “This includes reducing income tax rates, freezing government spending, eliminating the capital gains tax on startup companies, suspending the federal unemployment tax, cutting payroll taxes by half for small businesses, and approving new free trade agreements, just to start. By taking these steps, and replacing the career politicians in Congress, we can get our economy moving again and begin getting the American people back to work.”
There needs to be solid economic reform with common sense solutions to boost job growth. This can be done without tax increases and additional spending. Fimian’s solutions would definitely be a start in the right direction.