Enewsletter: Learning How to Recover from Texas
"Now, my administration has a job to do as well, and that job is to get this economy back on its feet. " – President Obama, July 2009
Since 2009 the administration has borrowed, spent, and taxed, sending our national debt $3.7 trillion deeper in the red. Even after all the stimulus packages and bailouts, our economy lost over 2 million more jobs. May’s unemployment statistics are yet another reminder of the long way we have to go in our economic recovery.
In 2009 the unemployment rate averaged 9.5 percent. Today it’s only .4 percent lower, even though the administration projected an 8 percent unemployment cap with the stimulus plan. That same year the White House released a report which projected that if no stimulus package was passed, the unemployment rate would have topped out at around 8.8 percent by the end of 2010. Clearly this is not where we are today.
The Administration could learn a thing or two from Texas. Texas has no state income tax and fewer regulatory burdens on business. Government plays a very small role in our economy. As a result, Texas has had a net increase in job creation. It is the top exporter for the ninth year in a row and the economy continues to consistently grow every single year. These types of common sense policies must be used in Washington and that is exactly what I will continue to fight for to make sure things get back on track.