Press Releases

(Evansville, IN) – Congressman Larry Bucshon (IN-08) released the following comment on the August jobless rate.  The rate remained at 9.1 percent, the same as reported in July.

Congressman Bucshon (IN-08) states:

            “As another month passes, there are no positive signs regarding jobs.  We need leadership and action from this President, not another speech.  This past month, I toured all 18 counties of Indiana’s 8th Congressional District meeting with citizens and job creators alike.  They all told me to put the politics aside in Washington, D.C. and do what we can to get Americans back to work.

I hear the same thing from each and every job creator that I meet – stop onerous regulations and provide certainty to the economy.  This fall, the House Republicans will work to end these burdensome regulations that destroy jobs and put a financial burden on job creators.  We need to create an environment that will encourage job creators to hire Hoosiers.  This is why I am working to stop egregious regulations, cut wasteful spending, and reform the tax code to spur economic growth.”

Background:

According to CNBC,“It was the first time since World War II that the economy had a net zero jobs created for a month.  Economists had been expecting the report to show a net of 75,000 jobs created, an unusually low number considering the US is technically more than two years removed from the end of the last crisis.”

In February 2009, President Obama promised an unemployment rate under 8 percent if the Stimulus passed.  Since the passage of the Stimulus, unemployment has averaged 9.4 percent.  On August 24th of this year, the nonpartisan Congressional Budget Office reported the unemployment rate will not fall to 8 percent until 2014.  Also, the White House Office of Management and Budget released their midyear review of the budget showing their projection of an average unemployment rate of 9 percent through 2012.

On August 30th, The White House responded to a request by Speaker Boehner to identify all regulations that could have an impact of over $1 billion.  There were 7 regulations cited that could have a combined economic cost of over $100 billion annually.  In addition, the Obama Administration has disclosed that there are 219 economically significant regulations in the works with an economic cost of $100 million each.

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