House Republican Whip Eric Cantor (R-VA) delivers the weekly Republican address on the economy, the Obama Administrations trillion-dollar "stimulus" spending bill that isnt working, and Republican efforts to offer better solutions.
"Hello. I’m House Republican Whip Eric Cantor and I have the great privilege of representing the hardworking people of Virginia’s seventh district.
"American families and small businesses today are struggling. Republicans have put forth thoughtful, serious and comprehensive plans of action that put jobs first. We offered an economic recovery plan that would have revitalized struggling small businesses and helped middle-class families by putting Americans back to work. Yet, the President, in tandem with Democrats in Congress, have pushed through a $787 billion dollar bill full of pork barrel spending, government waste, and massive borrowing cleverly called ‘stimulus.’
"There is no doubt that our nation faces many challenges, but the plain truth is that President Obama’s economic decisions have not produced jobs, have not produced prosperity, and simply have not worked. President Obama has already asked you to borrow trillions of dollars, and so far nearly 3 million jobs have been lost alone this year.
"Remember the promises? They promised you that if you paid for their stimulus, jobs would be created immediately. In fact, they said that unemployment would stay under eight percent. Yet just months later, they are telling us to brace for unemployment to climb over ten percent. They promised jobs created. Now they scramble to find a way to play games with government numbers by claiming jobs saved.
"Simply put, this is now President Obama’s economy and the American people are beginning to question whether his policies are working.
"But that doesn’t mean we are out of options. Together, we can bring about a strong and real recovery. We can create an environment that empowers small businesses and American workers to thrive. We must focus on job creation and restoring the financial and retirement security lost by millions of Americans. And for the sake of our children and our long-term fiscal viability, Washington must stop spending money that it doesn’t have.
"That’s why every day, my Republican colleagues and I are fighting to enact policies that will stabilize our economy, create jobs and ignite prosperity. You and your family deserve no less.
"Since January, we have offered alternatives to the out-of-control, big government, Democrat agenda that unfortunately became law and has completely failed to create jobs. Our plan is simple and smart and its strength is that it doesn’t invest in Washington, it invests in the American people.
"We believe Washington should stop its war on the Middle Class and reduce taxes so every hardworking, taxpaying-family in America will see an immediate increase in their income. A prosperous middle class is critical for our entire nation’s well being.
"We believe Washington must stop targeting America’s small businesses and instead should empower them by allowing employers to take a tax deduction to free up funds to retain and hire new workers. Our history proves that it is the small businessmen and women who will reignite our economy by putting people back to work. Washington should get out of the way and encourage small business employers to start or grow a business.
"Lastly, we believe Washington must be responsible for every taxpayer dollar that is spent. Washington MUST live within its means. We will not support taxes hikes to pay for even more so-called stimulus spending.
"The overwhelming majority of Americans are working hard and are playing by the rules. They are providing for their families and doing their part to return America to the pinnacle of prosperity.
"Their reward? Trillions more in debt. For the ‘stimulus’ alone, Washington borrowed nearly ten thousand dollars from every American household. Let me ask you: do you feel $10,000 richer today? Do you feel $10,000 better off? If you don’t, please know most people agree.
"That is why we continue our fight because during these tough economic times, it often seems that Washington is offering you few choices except for spend and borrow. I’m here today to let you know there are alternatives – common-sense tax relief; smart and necessary reductions in spending, and intelligent policies that do not bankrupt our nation.
"That is why I’m asking you to join our fight for accountability and common-sense. We can do better and we will do better, but first we have to come together to change what is going on. The time is critical, the choice is yours.
"I’m Eric Cantor, and on behalf of my Republican colleagues, join with us to get Washington working for you once again.
"Thank you for listening."