Washington, D.C. - Quotes from the opening statement of U.S. Congressman Kevin Brady, Ranking House Republican on the Joint Economic Committee, at an October 22 hearing featuring Dr. Christina Romer, Chair of the Council of Economic Advisors:

On a jobless recovery:
“I am concerned that any growth in the second half of this year may prove transient, and consequently the unemployment rate may continue to increase well into 2010.  Those in Washington shouldn’t kid themselves:  A jobless recovery is no recovery for American workers.”

On the Federal Reserve outperforming the stimulus:
“Compared to the Federal Reserve’s $1.3 trillion “adrenaline shot,” President Obama’s stimulus spending pales.  As of this month, only $173 billion, or 22 percent of the program’s total, had been spent – to the view of many, too slowly, too wastefully, and too unfocused on jobs.   Like the hunter in the party who takes credit for every bird that falls, stimulus promoters should be wary of taking credit for the result of unprecedented Fed actions that are casting a far greater influence over the economy’s performance.” 

 
On Washington helping our recovery: 
“As a result (of  Washington proposals to pass cap-and-trade, increase health care costs, impose new regulations and raise taxes on income, capital and international investment)  many companies in my district and around the country are delaying important investment decisions – and the job creation that goes with it. In short, the government’s uncertainty and interference is quickly turning a “rescue operation” into an anchor around the private sector’s neck.”


“The United States is on an unsustainable fiscal course,” Brady added.