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Johnny Isakson's Position Statement on the Economy
As our nation continues to struggle through the current economic crisis it is important to stay focused on the recovery aspects.
I have outlined a five-point plan for boosting our economy and getting our nation’s debt under control to save our country for future generations.
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We must make a budget and cut spending. Our government must do what every American family has had to do: sit around the kitchen table, reprioritize expenditures and get a budget in line with expenditures. I believe that cutting federal spending is the number one thing we can do to help put expenses in line. We can find those savings in government through attrition, by slowing down government growth, by getting more out of less, and by finding new ways to be efficient.
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I have tried to be a good steward of federal tax dollars throughout my career by running my Senate office with the same efficiency with which I ran my successful real estate business. I have returned $3.1 million of my office budget to the U.S. government in my 13 years in federal office.
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We must change the formula for Social Security. The United States has an historic precedent to follow on this matter. President Reagan and Democratic House Speaker Tip O’Neill agreed to a formula change in 1983, moving the age of eligibility to receive Social Security as life-expectancy grows. With advances in medicine and science, we are able to live and work longer. Adjusting the age of eligibility for Social Security benefits, except for those who are currently receiving it, would help secure funding for future generations.
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We must overhaul Medicare. Depending on what numbers are used, Medicare will be depleted sometime between 2017 and 2024. I am looking at a variety of different plans – such as the Simpson-Bowles Commission recommendations – and I feel that means-testing will likely have to be a part of the eventual solution.
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We must reform the tax code. I believe that a tax based on consumption makes more sense than the current formula of taxing production. In the meantime, I support closing loopholes in the current code. We ought to be willing to put the tax code on the table and seek reform.
The Obama administration has greatly reduced the nation’s productivity by over-regulating business. I understand and support mitigating risk; however, you cannot remove all risk in a free-enterprise system. We are handicapping ourselves by regulating ourselves right out of business and jobs.
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Economy News Releases
- August 3, 2012 - Isakson Pushes Bill to Let Private Sector Lead the Way in Uplifting Developing Countries
- August 2, 2012 - Senators Coons, Isakson praise Senate's reauthorization of key provision of Africa trade law
- July 18, 2012 - Isakson ‘Astounded, Disappointed and Perplexed’ By Obama’s Assertion That American Business Owes Its Success to Government
- June 13, 2012 - Isakson Denounces President Obama's Declaration that "Private Sector is Doing Fine"
- May 15, 2012 - Isakson Calls on Senate to Stop Reckless Spending, Pass a Budget
- April 17, 2012- Isakson Calls for Simpler Tax System, Lower Tax Burden
- March 30, 2012 - Isakson Honored with 'Spirit of Enterprise Award'
- February 3, 2012 - Landrieu, Isakson Introduce Bill to Protect Small Insurance Agents, Consumers
- January 30, 2012 - Isakson Joins Bipartisan Group of Senators Introducing Legislation to Approve Keystone XL Pipeline
- January 26, 2012 - Isakson Statement on Increase of Debt Limit
- December 16, 2011 - Isakson Returns More Than Half A Million Dollars of His Senate Office Budget to the Treasury for Fiscal Year 2011
- December 14, 2011 - Isakson, Chambliss Vote for Constitutional Amendment to Balance Federal Budget
- December 8, 2011 - Isakson Introduces Legislation to Stop Taxpayer Bailouts of Mortgage Industry
- November 30, 2011 - Isakson, Chambliss Co-Sponsor Legislation to Force Administration to Issue Keystone Construction Permit Within 60 Days
- November 17, 2011 - Isakson Strongly Objects to Postponement of Decision on KeyStone XL Pipeline Until After 2012 Presidential Election
- November 16, 2011 - Isakson Introduces Amendment to Ensure American Taxpayers Are Repaid First if Government Loan Guarantee Recipient Defaults
- November 8, 2011 - Isakson, Chambliss Criticize Use of Taxpayer Dollars to Pay Millions in Bonuses to Fannie Mae, Freddie Mac Executives
- October 25, 2011 - Boxer, Isakson Urge Administration to Make it Simple for Homeowners to Refinance
- October 24, 2011 - Boxer, Isakson Praise Announcement of New Efforts to Help Homeowners Refinance
- October 19, 2011 - Bennet, Isakson Introduce Bipartisan Bill to Account for Energy Costs in Mortgage Underwriting
- October 13, 2011 - Isakson Praises Senate Passage of Free Trade Agreements
- October 11, 2011 - Boxer, Isakson, Menendez Join Colleagues in Calling for
Swift Administrative Action
to Help Homeowners Refinance
- October 5, 2011 - Isakson, Graves Introduce the HOME Act to Help Americans Keep their Homes
- October 4, 2011 - Isakson Statement in Response to President Sending Long-Pending Free Trade Agreements to Congress
- September 19, 2011 - Isakson, Boxer Urge Federal Housing Finance Agency to Act Now to Help Homeowners Refinance
- September 16, 2011 - Senators Menendez and Isakson Call for Extending Higher Home Loan Limits to Boost Weak Housing Market
- September 15, 2011 - Isakson Continues Efforts to Stop Obama Administration from Issuing Overreaching, Burdensome Regulations
- September 14, 2011 -Isakson, Boxer: Allow Responsible Homeowners to Refinance Mortgages at Current Low Rates
- September 13, 2011 - Isakson Cosponsors Legislation to Impose 'Time-Out' on Obama Administration from Issuing Costly, Job-Killing Regulations
- September 8, 2011 - Isakson Urges Regulators to Reconsider 20 Percent Down Payment Requirement for Highly Qualified Homebuyers
- September 7, 2011 - Isakson Calls on President Obama to Send Long-Standing Free Trade Agreements to Congress for Approval
- August 2, 2011 - Isakson on Debt Ceiling Deal: ‘A First Step in the Right Direction’
- July 30, 2011 - Isakson to Congress: ‘It’s Time We Started Finding Common Ground’
- July 27, 2011 - Isakson: Washington's Inability to Solve Debt Ceiling Crisis Causing Crippling Uncertainty for Businesses, Hurting Economic Growth
- July 6, 2011 - Isakson on the Debt Crisis: 'This Is The Fourth Quarter Of The Super Bowl Of The Future Of The United States of America'
- June 22, 2011 - Bipartisan Group of Lawmakers Strongly Urge Federal Regulators to Reconsider Rule That Would Shut Out Qualified, Responsible Homebuyers
- June 15, 2011 - Isakson: "Washington is Making it Worse"
- June 8, 2011 - Isakson: Federal Regulators' Plan to Require 20 Percent Down Payment from Highly Qualified Homebuyers Will Devastate Housing Market
- May 27, 2011 - Landrieu, Isakson, Hagan Urge Regulators to Give Families Access to Affordable Mortgages
- May 18, 2011 - Isakson Votes To Increase Domestic Oil Production
- May 17, 2011 - Isakson Rejects Legislation to Raise Taxes on Domestic Oil Producers
- May 13, 2011 - Isakson Again Urges Obama Administration to Issue Drilling Permits, Increase Domestic Oil Production
- April 1, 2011 - Isakson Receives Award from U.S. Chamber of Commerce for Strong, Pro-Business Growth Record
- March 31, 2011 - Isakson: Congress Angering American Families, Endangering America's Economic Standing By Failing to Rein in Spending, Lower Debt
- March 22, 2011 - Isakson to President Obama: Focus on Helping America’s Economy Before Helping Brazil's
- March 17, 2011 - Isakson, Chambliss Vote to Cut Senate Office Budgets
- March 4, 2011 - Isakson: I Call the President's Bluff
- March 3, 2011 - Isakson Continues Fight to Amend Constitution to Require Balanced Federal Budget
- March 3, 2011 - Isakson to Federal Regulators: Shutting Out Highly Qualified Homebuyers Would Be a Disaster for Recovery of American Housing
- February 17, 2011 - Isakson to Regulators: Don't Shut Out Qualified, Repsonsible Homebuyers With Large Down-Payment Requirement
- February 15, 2011 - Isakson: President's Budget Spends Too Much, Taxes Too Much, Borrows Too Much
- February 15, 2011 - "Don't penalize qualified, responsible homebuyers" (Opinion Editorial)
- February 8, 2011 - Isakson Co-Sponsors Legislation to Restrict Unelected Bureaucrats at Federal Agencies from Imposing Overly Burdensome, Costly Regulations
- February 3, 2011 - Bipartisan Bill Would Ensure Americans are Better Prepared for Retirement
- February 2, 2011 - Isakson Promotes Bill to Reduce Federal Spending
- January 27, 2011 - Isakson, Shaheen Introduce Biennial Budget Appropriations Act
- January 26, 2011 - Isakson Again Co-Sponsors Constitutional Amendment to Balance Federal Budget
- January 25, 2011 - Isakson Statement of State of the Union
- January 25, 2011 - Isakson Introduces Legislation to Ensure Senators' Leftover Office Funds Go Toward Reducing National Debt; Wins Endorsement from Citizens Against Government Waste
- January 5, 2011 - Isakson Vows to Cut Spending, Reduce Debt As He Takes Oath in U.S. Senate
- December 13, 2010 - Isakson Votes to Ensure No Income Tax Increase for Two Years
- December 1, 2010 - Isakson, Chambliss to Democrats: Address Expiring Tax Cuts Immediately
- November 16, 2010 - Isakson Again Urges Congress to End Reckless Spending, Reform Federal Budget Process
- October 4, 2010 - Isakson Receives "Tax Fighter" Award for Commitment to Fiscal Conservatism
- September 23, 2010 - Isakson Co-Sponsors Legislation to Make Seriously Delinquent Tax Debtor Ineligible for Federal Jobs
- September 14, 2010 - Isakson Co-Sponsors Legislation to Permanently Extend Tax Relief
- August 17, 2010 - Senators to Geithner: It's time to deal seriously with Fannie Mae and Freddie Mac
- August 10, 2010 - Isakson Receives "Taxpayer Hero" Award from Cimmitment to Reducing Wasteful Spending
- August 5, 2010 - Isakson Votes to Protect American Workers, Families, Small Businesses from Tax Hikes
- July 22, 2010 - Isakson to Host Small Business Summit in Macon
- July 21, 2010 - Isakson Co-Spnsors Amendment to Extend Unemployment Benefits Without Increasing National Debt
- July 15, 2010 - Isakson Votes Against Financial Reform Bill That Over Regulates Main Street, Leaves Out Fannie Mae, Freddie Mac Altogether
- May 21, 2010 - Isakson Votes Against Financial Reform Bill That Fails to Protect Main Street, Leaves Out Fannie Mae, Freddie Mac
- May 13, 2010 - Isakson Praises Unanimous Passage of His Amendment to Strengthen Sound Mortgage Lending
- May 6, 2010 - Chambliss, Isakson Disappointed in Democrats' Failure to Protect Main Street from Unintended Consequences of Financial Reform Bill
- April 7, 2010 - Isakson, Chambliss Meet with FDIC Chairman, Georgia Bankers
- March 3, 2010 - Isakson Votes to Help Small Businesses Create Jobs
- February 24, 2010 - Kaufman, Isakson Say SEC Action a "Step Forward" But Fails to Solve Naked Short Selling Concerns
- February 4, 2010 - Isakson, Chambliss: Improving Immigration Laws Will Help Unemployment
- February 2, 2010 - Isakson to Federal Financial Regulators: Unintended Consequences of Inflexible Rules, New Fees Making Recession Worse
- January 28, 2010 - Isakson Votes Against $1.9 Trillion Increase in Debt Limit
- January 22, 2010 - Isakson Co-Sponsors Constitutional Amendment to Balance Federal Budget, Give President Line-Item Veto Power
- January 21, 2010 - Isakson Votes to End $700 Billion Federal Program Used to Assist Troubled Banks, Automakers
- January 13, 2010 - Bank Execs Testify at First Financial Inquiry Panel Hearing
- December 3, 2009 - Senators Introduce Bipartisan Bill to Help Americans Better Prepare for Retirement
- December 1, 2009 - Senators Introduce Stanford Investment Fraud Resolution
- November 4, 2009 - Isakson Praises Senate's Unanimous Passage of Legislation to Extend, Expand Home Buyer Tax Credit
- October 20, 2009 - Isakson Urges Senate to Extend, Expand Home Buyer Tax Credit
- October 13, 2009 - Floor Statement on Expanding the Homebuyer Tax Credit
- October 11, 2009 - Has the $787 billion economic stimulus been successful in creating jobs? (Opinion Editorial)
- September 29, 2009 - Kaufman, Isakson Statement on SEC Roundtable on Short Selling
- September 18, 2009 - Isakson Applauds Financial Crisis Commission for Beginning Work, Pushes for Thorough Investigation of Economic Crisis
- September 18, 2009 - Isakson, Chambliss Call for End to Federal Program Used To Assist Troubled Banks, Automakers
- September 11, 2009 - Isakson on Economy: Give Financial Crisis Commission Time to Complete Its Work, Expand Homebuyer Tax Credit
- August 6, 2009 - Isakson Criticizes Senate’s Refusal to Stimulate Housing Market by Expanding Tax Credit for Homebuyers
- July 15, 2009 - Isakson, Conrad Praise Appointment of Members to the Financial Crisis Commission
- June 10, 2009 - Isakson Continues Push to Stimulate Housing Market
- May 20, 2009 - Isakson Praises Signing of Law to Investigate Economic Crisis
- May 19, 2009 - Isakson Praises Passage of Legislation to Investigate Economic Crisis
- May 6, 2009 - Isakson, Conrad Praise House Passage of Legislation to Investigate Economic Crisis
- May 5, 2009 - To restore trust in market, stop abusive short selling (Opinion Editorial)
- April 22, 2009 - Isakson, Conrad Praise Senate Passage of Legislation to Investigate Economic Crisis
- April 17, 2009 - U.S. Chamber Honors Isakson with "Spirit of Enterprise" Award
- April 3, 2009 - Isakson, Chambliss Vote Against $3.5 Trillion Budget Resolution
- April 2, 2009 - Isakson, Chambliss Praise Move to Give Banks Flexibility in Valuing Certain Securities
- April 2, 2009 - Isakson, Chambliss Urge SEC to Reinstate Uptick Rule
- April 1, 2009 - Senate Unanimously Approves Isakson Amendment to Stimulate Housing Market
- March 31, 2009 - Isakson Continues Push to Stimulate Housing Market
- March 18, 2009 - Isakson Criticizes AIG Bonuses, Repeats Call for Independent Commission to Investigate Near Collapse of Banking System
- March 17, 2009 - Isakson Co-Sponsors Legislation to Force SEC to Reinstate Uptick Rule
- March 11, 2009 - Isakson Calls Again for Reform of Mark-to-Market Accounting Rules
- March 5, 2009 - Isakson, Chambliss Demand Answers from Federal Regulators for Georgia Banks
- February 24, 2009 - Isakson Outlines Keys to Getting Economy Back on Track
- February 13, 2009 - Isakson, Chambliss Vote Against Massive Spending Bill
- February 10, 2009 - Isakson, Chambliss Vote Against Massive Spending Bill
- February 4, 2009 - Senate Unanimously Approves Isakson Amendment to Stimulate Housing Market
- January 26, 2009 - Isakson Votes No on Treasury Nominee
- January 22, 2009 - Isakson, Conrad Introduce Legislation to Investigate Near Collapse of Banking System
- October 21, 2008 - Isakson, Chambliss Urge Treasury, Federal Reserve to Address Needs of Community Banks
- October 10, 2008 - Isakson Urges Treasury, Federal Reserve to Enforce Stronger Accountability on AIG
- October 3, 2008 - Chambliss, Isakson Statement on House's Passage of Legislation to Stabilize Economy
- October 1, 2008 - Floor Statement on the Financial Rescue Plan
- October 1, 2008 - Isakson: Legislation Will Stabilize Credit Market, Restore Confidence
- September 29, 2008 - Chambliss, Isakson Statement on Status of Financial Rescue Plan
- September 26, 2008 - Floor Statement on the Economy
- September 25, 2008 - Floor Statement on the Economy
- September 18, 2008 - Floor Statement on the Economy
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