Written by Right Side News
Earlier this month – nearly three years into his presidency – President Obama proposed his long awaited “jobs agenda.” Unfortunately, it consisted of yet another rehash of the same big-government stimulus programs that have consistently failed to generate jobs.
Government doesn’t create jobs. The private sector – entrepreneurs risking capital to meet a demonstrated need – creates jobs.
But government can kill jobs. And the Obama administration has waged an unrelenting war on jobs, perhaps not deliberately, but out of an ideological zealotry and dedication to big government and central control of the·economy.
As a result, our economy languishes and millions are unemployed. Historically, growth in the U.S. has averaged roughly 3 percent per year. In 2011, we are at 0.7 percent – one quarter the historical average. And unemployment is 9.1 percent, the highest in 28 years.
If you count discouraged workers, unemployment is at 16.1 percent – which means 25.1 million Americans are tragically out of work·today.
The federal government is addicted to regulation and spending. As a candidate for the U.S. Senate, I propose a 12-step plan. The first six are defensive, stopping the Obama war on jobs, and the next six are proactive, unleashing the private sector:
1. Repeal Obamacare. The massive cost and uncertainty it has imposed on small business is crippling job creation.
2. Kill cap and trade. The Obama administration has relentlessly pushed, in cap and trade, the largest energy tax in history, which would take thousands of dollars from every family in America.
3. Stop the National Labor Relations Board from attacking jobs in right-to-work states. Currently, the NLRB is trying to force Boeing to fire thousands of workers from its factory in Charleston because South Carolina is a right-to-work state.
4. Revoke the offshore drilling moratorium. The Obama administration unilaterally imposed a blanket moratorium on drilling, and continues a de facto prohibition, killing thousands of high-paying jobs and hindering economic growth in Texas and the entire Gulf Coast.
5. Restrain abusive environmental enforcement. To protect a lizard, the Obama administration is trying to stop oil and gas exploration in West Texas. Even more ominously, if the Obama administration succeeds in banning hydraulic fracturing – which has opened vast new reserves of oil and gas – tens of thousands of jobs will be lost and America will be left even more dependent on foreign dictators for our energy needs.
6. Repeal Dodd-Frank. The Dodd–Frank Wall Street Reform and Consumer Protection Act does nothing to prevent future financial bailouts, but instead subjects the financial sector to crushing regulatory burdens – the cost of which invariably will be passed on to consumers.
7. Slash corporate tax rates. Right now, U.S. corporations face the highest tax rate in the developed world, and they face double taxation if they invest their profits in America. As a result, American companies are today keeping more than $2 trillion overseas. We should cut corporate tax rates to 15 percent immediately to spur new investment and create new jobs in America.
8. Champion tax reform. We should dramatically simplify the tax code and move as close as possible to a flat tax or to the Fair Tax.
9. Cut the federal budget and reform entitlements. Our federal budget is out of control, and broken entitlements are the largest portion of that budget. We need serious cuts in federal spending and fundamental entitlement reform to resolve the ever-growing debt crisis.
10. Rein in the Federal Reserve and ensure sound money. Congress should pass Rep. Ron Paul’s bill to audit the Federal Reserve so that it is subject to basic principles of accountability and transparency. We then should restrain the Fed’s quantitative easing – a fancy term for printing money – so that our currency isn’t further debased.
11. Allow small- and medium-sized companies to opt out of Sarbanes-Oxley. Today, American businesses spend twice as much complying with needlessly burdensome regulations as they spend on income taxes. We should restore a historic pillar of America’s prosperity: access to affordable public capital to expand business and create jobs.
12. Pass a strong, balanced budget amendment. In 2013, with a new Senate and a new president in the White House, passing a strong balanced budget amendment with strict spending limitations (18 percent of GDP) is absolutely vital.
President Obama’s speech contained everything except what would actually create jobs, namely stopping the government’s war on the job creators. For 25 million Americans and counting, the Obama agenda simply doesn’t work.
From now until the election, I will be talking every day about how economic freedom and limited government are the keys to liberty, prosperity and job creation. If we remove government barriers to economic growth, and unleash private sector innovation, jobs will follow. It’s time to get America working again.