Economy and Jobs
Free markets, economic mobility, and equal opportunity are the drivers of innovation, entrepreneurship, and capital formation. Every piece of legislation should consider the impact on these drivers.
Our national debt is at a record high of $16.7 trillion and Congress continues to spend out-of-control. American Treasury Securities have lost their AAA rating, which would normally place upward pressure on interest rates and exacerbate our national deficit. Instead, the Federal Reserve continues to print money and purchase Treasury Securities to artificially bring their value up and corresponding interest rates down. This increase in money supply weakens the value of the U.S. Dollar, making the United States an unattractive place to invest money, start a business or grow a corporation. Joblessness is the result. This cycle will only stop when the U.S Congress stops spending.
These are the principles that will return America to economic greatness:
- Low taxes
- Fiscal constraint
- Low regulation
- Sound monetary policy
- Tort reform
- Fair trade
In order to establish sound monetary policy, the Fed must focus singularly on price stability. When the Fed attempts to use the money supply to create full employment or increase economic output, it weakens the dollar, creates inflation, causes bubbles, and intensifies the business cycle. The financial crisis of 2008 was not caused by "unfettered free markets." It was caused by government intervention in markets through manipulation of interest rates and money supply. I would support repealing the Humphrey-Hawkins Act of 1978.
For more information concerning my work and views related to Economy and Jobs, please contact me.
See also information on Jobs and resources for Businesses.
More on Economy and Jobs
NATIONAL HARBOR, Maryland—Freshman Congressman Jim Bridenstine (R-OK) warns that unless Washington fixes its spending and monetary policy, massive inflation is sure to come.
Speaking at the Breitbart News's "Univited II" National Security Action Summit, Congressman Bridenstine warned that a financial disaster is waiting just over the horizon unless Congress and the administration make reforms.
The US government has a spending problem. The nation is over $16 trillion in debt. Federal spending must be brought under control to reduce the deficit, reduce the size of the government, and move toward a balanced budget. The Obama Administration and the Democrat-controlled Senate are committed to higher taxes, higher spending, and the government taking an ever-higher share of the US economy. This has got to stop. The House Republican majority are the ones who can stop it.
Kudos to Rep. Jim Bridenstine (R-OK), who is taking action in Washington to protect small online businesses from the negative effects of the so-called Marketplace Fairness Act. In a state like Oklahoma, this is a big deal. Rep. Bridenstine explains:
Oklahoma's freshman Republican District 1 Congressman Jim Bridenstine sat down with the staff of the Tulsa Business & Legal News for a Q & A session on Wednesday in which he discussed ongoing efforts in Washington on issues affecting the business climate of Tulsa and the state. Specifically, he weighed in on Obamacare, banking regulations, immigration reform, and the monetary system.
What's the most significant issue affecting the local and regional business climate of Tulsa?
Congressman Jim Bridenstine: “U.S. Senators Ted Cruz and Marco Rubio are carrying the ball in the Senate to include an amendment to de-fund Obamacare in the Continuing Resolution. I appealed to the House Rules Committee to allow consideration of my amendment to de-fund Obamacare as part of the CR in the House, but they denied the opportunity. Now the CR is moving on to consideration by the Senate. Senator Cruz plans to introduce a similar amendment in the Senate. I want to support Senator Cruz’s effort in every way possible.
Congressman Jim Bridenstine: “U.S. Senators Ted Cruz and Marco Rubio are carrying the ball in the Senate to include an amendment to de-fund Obamacare in the Continuing Resolution. I appealed to the House Rules Committee to allow consideration of my amendment to de-fund Obamacare as part of the CR in the House, but they denied the opportunity. Now the CR is moving on to consideration by the Senate. Senator Cruz plans to introduce a similar amendment in the Senate. I want to support Senator Cruz’s effort in every way possible.
The House voted overwhelmingly to pass the CR today which failed to cut one cent from Obamacare. 30 members signed the Bridenstine-Huelskamp letter asking leadership to defund Obamacare through the CR. 16 members voted against the rule to bring up the CR, some of which hadn’t signed the letter. Only 14 members voted against the CR. In other words, several members took the drastic step of opposing a rule, yet voted for the bill. All this confusion is above my pay grade. Nonetheless, here is the
Rep. Jim Bridenstine was on with Mark Levin tonight and I tell you, he is sharp as a tack. Bridenstine spends a few minutes explaining how, in very simple terms, we are going to be screwed by Obamacare (and Obama) and why it is necessary that we defund Obamacare while we run the House.
I’d call this one a MUST LISTEN.
Washington, DC, February 14, 2013
FOR IMMEDIATE RELEASE
“This was a great day. I got to vote for regulatory fairness and for regulatory efficiency,” commented Congressman Jim Bridenstine following votes on two bills in the U.S. House of Representatives Wednesday. “Regulatory excesses of the past few years have been a severe impediment to economic growth.”