Posted by
Randy
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December 01, 2010
A report by Gallup has said Americans are most likely to choose deficit and debt reduction as the best approach for dealing with the economy over other alternatives like raising taxes and increasing stimulus spending.
Posted by
Randy
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November 16, 2010
Throughout the week this week, I am attending several organizational meetings and working group sessions with my colleagues as we think ahead and prepare for the 112th Congress. One of the primary topics of discussion? Top priorities for the new Congress, like addressing spending and helping to create jobs for Americans.
I want to hear from you as we plan for the 112th Congress – what are your top priorities for the new Congress and what specific ideas do you want to see implemented?
Posted by
Randy
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November 08, 2010
Last week, the Federal Reserve announced that it would print $600 billion in new currency to rev up a "disappointingly slow" economic recovery.
Unfortunately, printing $600 billion will not lead us to economic recovery. Printing $600 billion does not make Americans $600 billon richer. Quite the opposite, it devalues American's savings and does nothing to create jobs for Americans. We cannot engineer economic recovery - we need to empower small businesses, not the government, to lead us to economic recovery. You can read more about the Federal Reserve's actions here and then share your thoughts on this action in the comments section below.
Posted by
Randy
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October 27, 2010
The Federal Reserve recently reported in its "beige book" survey of economic conditions that the "economy is still too weak to add to permanent jobs."
Posted by
Randy
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October 25, 2010
Today I was happy to participate in the Hampton Roads Chamber of Commerce Congressional Forum. The main topics of discussion? The economy and government spending.
Rather than speaking at the forum, I was more interested to hear first hand from our local business owners to understand what concerns they have with the economy, and what they believe Congress needs to do (or not do) to encourage business growth and, ultimately, the creation of more jobs. Overwhelmingly, small business owners agreed that 1) balancing our federal budget is a non-negotiable, 2) raising taxes in a down economy will be detrimental to small businesses, and 3) we must lower our federal debt because it has a negative impact on our global competitiveness. Our small business owners are the backbone of our economy, and it is important that Washington listens to them when thinking about any proposals for economy recovery. Read about some of my recent work addressing those concerns here.
Posted by
Randy
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September 15, 2010
According to a recent survey of small business owners by Citigroup Inc., only 17% had plans to hire additional employees. When our nation’s small businesses – who employee half of our nation’s private work force – are not hiring, it impedes economic growth.
Washington needs to abandon deficit spending and stimulus quick-fixes and instead return to economic principles that promote recovery and encourage the creation of much-needed new jobs. There are several steps that Congress can take that would create jobs and spur innovation: Make tax cuts permanent. Implementing lasting tax cuts will help to restore economic freedom in the United States and put our country on the path to a brighter future. I have cosponsored the Economic Freedom Act (H.R. 5029), which would reduce taxes for American businesses and families. Decrease burdensome regulations on small businesses. In our current economic situation, we must show our small businesses that we support them by continuing pro-growth policies like lowering taxes, simplifying the tax code, and reducing burdensome regulations. Develop lasting energy solutions. We need a bold initiative that will encourage investment in new forms of energy, thus ending our dependence on oil and creating thousands of new energy jobs for Americans. I have introduced the New Manhattan Project for Energy Independence, which would create a national challenge for lasting energy solutions. Lower the debt. Our national debt is expected to reach 93.1% of our GDP this year. Economic experts say even a 1 percent increase in GDP can create almost one million jobs. We must make a commitment to decreasing the national debt, which is why I have introduced a bill to cut government spending by 40% over the next five years. What other solutions do you have that would help create jobs for American families?
Posted by
Randy
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September 10, 2010
As you know, I was one of only 17 Members of Congress to vote against both this stimulus and every other stimulus and bailout under the Bush and Obama Administrations because I believed that they would not work.
Posted by
Randy
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August 31, 2010
Last week, a top economist said we are facing increased odds of double-dip recession. Mark Zandi, the chief economist of Moody’s Analytics, said one thing Congress and the White House could do to boost confidence in the economy would be to delay any tax hikes until at least 2012. As you may know, the federal income tax cuts passed into law in 2001 and 2003, such as the child tax credit and marriage penalty relief, are set to expire at the end of this year. The current leadership in Congress and the Administration are considering allowing these tax cuts to expire, raising taxes on thousands of American families in the midst of a struggling economy. Zandi has said this would be a gamble.
Zandi’s report echoes what we know to be true - raising taxes will not create jobs and it will not provide the certainty we need for Americans. That's why I support making current tax cuts permanent. Implementing lasting tax cuts will help to restore economic freedom in the United States and put our country on the path to a brighter future. The Economic Freedom Act (H.R. 5029), which I have cosponsored, would reduce taxes for American businesses and families. Of course, permanent tax cuts are not the only answer. We have to get runaway government spending under control. Read more about my efforts in that area here.
Posted by
Randy
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August 17, 2010
Job-Killing Principles
Posted by
Randy
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July 26, 2010
The White House announced last week that the United States will likely have another record deficit this year – $1.47 trillion. |
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