Weekly Columns
Last week marked the one-year anniversary of the passage of Obamacare into law, and opposition among the nation's employers remains as strong as ever. Nancy Pelosi's infamous comment that Congress would "have to pass the bill so that we find out what is in it" underscores the fact that the more job creators learn about it, the more they dislike it.
A recent report from the Joint Economic Committee (JEC) eloquently illustrates the connection between spending cuts and job creation. In their analysis of economic data from all developed countries between 1970 and 2007, the JEC uncovered some instructive and encouraging findings.
The sudden, significant spike in gas prices is straining American family budgets and jeopardizing our fragile economic recovery. Unrest in North Africa and the Middle East has driven prices up 20 cents in just the last few days, and prices have increased 68 cents compared to this time last year. According to analysts, every penny increase in gas prices costs consumers an extra $4 million per day.
A government shutdown has been averted. For now. Harry Reid and Senate Democrats were poised to close the government rather than accept House Republicans' plan to cut $100 billion from the remaining months of the 2011 budget. The House GOP majority remained firm in our conviction that spending must be reduced and passed a short-term version of our original legislation. Rather than cutting $100 billion over 7 months, this bill cuts $4 billion over two weeks.
Media reports may try to suggest otherwise, but the responsibility of avoiding a potential government shutdown rests entirely with Harry Reid and the Senate Democrats.
The budget released last week by President Obama is the clearest signal yet that Congress should expect no support from the White House in tackling the national debt. The 2012 budget was President Obama's opportunity to provide leadership and show he is serious about addressing the most dire debt crisis in our history.
Instead, the president offered a budget that proposes $8.7 trillion in new spending, $1.6 trillion in new taxes, and $13 trillion in new debt.
Thanks to the former Democratic majority's failure to pass a budget last year for 2011, Congress has an opportunity to undo some of the fiscal damage President Obama has inflicted on the current budget, while simultaneously charting a fiscally responsible course for 2012.
As the situation in Egypt remains volatile, debate continues regarding the appropriate role of the United States in bringing about a peaceful resolution to unrest in this vital Middle Eastern nation. Although it remains unclear which faction will ultimately assume control of Egypt's government -- or even what form of government the protests may achieve -- some are already calling for the U.S. government to suspend aid to the our long-time ally.
After experiencing a self-described "shellacking" in the midterm elections, many believed President Obama finally got the message that the American people are fed up with wasteful spending. Unfortunately, his State of the Union address last week demonstrated that he still doesn't get it.
As the Associated Press pointed out, "Obama offered far more examples of where he would spend than where he would cut." The speech was full of new spending projects, from construction of high-speed rail to creation of mythical "green" jobs.
Each week the 112th Congress has been in session, House Republicans have passed legislation to bring spending levels down and begin restoring balance to the budget. First, we passed new rules reducing congressional operating budgets by 5 percent and instituting a requirement that any new spending in one part of the budget be balanced by cuts elsewhere. Last week brought the repeal of President Obama's unpopular, $1.2 trillion government health care program. And this week, the House votes on a resolution to reduce spending to 2008 levels.