[Congressional Record Volume 157, Number 162 (Wednesday, October 26, 2011)]
[House]
[Pages H7077-H7078]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      PUTTING FREEDOM BACK TO WORK

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
California (Mr. McClintock) for 5 minutes.
  Mr. McCLINTOCK. Mr. Speaker, the government's continuing failure to 
address our Nation's gut-wrenching unemployment stems from a 
fundamental disagreement over how jobs are created in the first place.
  We're now in the third year of policies predicated on the assumption 
that government spending creates jobs. We've squandered 3 years and 
trillions of dollars of the Nation's wealth on such policies, and they 
have not worked because they cannot work. Government cannot inject a 
single dollar into the economy until it's first taken that same dollar 
out of the economy.
  True, we see the job that's saved or created when the government puts 
that dollar back into the economy. What we can't see as clearly is the 
jobs that are destroyed or prevented from forming because government 
has first taken that dollar out of the economy. We see those millions 
of lost jobs in a chronic unemployment rate and a stagnating economy.
  Government can transfer jobs from the productive sector to the 
government sector by taking money from one and giving it to the other. 
That's at the heart of the President's plan to spend

[[Page H7078]]

billions of dollars to hire more teachers and firefighters and police 
officers. But these temporary government jobs come at a steep price. 
Every dollar spent sustaining one of these jobs is a dollar taken from 
the same capital pool that would otherwise have been available to 
productive businesses to invest in creating permanent jobs.
  Government can also transfer jobs from one business to another by 
taking capital from one and giving it to the other. That's how we got 
Solyndra. We put a half-billion dollars at risk to create 1,100 jobs. 
That's $450,000 per job. Now that half-billion dollars is gone and so 
are the jobs. And who pays for these losses? Other businesses and their 
employees, meaning fewer jobs created.
  What government can do very effectively is to create the conditions 
in which jobs either flourish and expand or wither and disappear. When 
we place additional taxes on productivity, jobs disappear.
  The President says he only wants to tax millionaires and 
billionaires, but the tax increases in his so-called jobs plan actually 
hammer more than 75 percent of net small business income, at a time 
when we're counting on those small businesses to produce two-thirds of 
the new jobs that our people desperately need. That is insane.
  When we place additional regulations on productivity, jobs disappear. 
That's what we're watching in real time--thousands of pages of new 
regulations from Obamacare, from Dodd-Frank, from the EPA stifling 
American job creation.
  It's no secret why business isn't expanding. Just ask a businessman. 
They're scared to death of the additional taxes and regulations they 
may be facing in the next few years, and they're pulling back to see 
what happens. Ask bankers why they're not lending; you'll hear the same 
answer.

                              {time}  1100

  House Republicans have laid out a comprehensive plan to revive the 
economy through the same policies that worked under Ronald Reagan in 
the early 1980s, under John F. Kennedy in the early sixties, under 
Harry Truman in the mid-forties and under Warren Harding in the early 
twenties. For example, the Congressional Budget Office estimates that 
ObamaCare by itself will cost our economy a net loss of 800,000 jobs. A 
few weeks ago, the Natural Resources Committee received testimony that, 
just by getting government out of the way and opening up American 
energy resources to development, the economy could create 700,000 jobs 
and $660 billion of direct revenues to the national and State 
treasuries. So repeal ObamaCare and open up American energy resources; 
there's 1\1/2\ million jobs right there at no cost to taxpayers.
  Now, imagine doing that across all sectors of the economy. That's 
what Republicans are proposing to do. The fact that the President 
doesn't even recognize this as a jobs plan leaves me to conclude that 
he simply doesn't understand how jobs are created in the first place.
  When Ronald Reagan inherited an even worse economy from Jimmy Carter, 
he reduced the tax and regulatory burdens that were crushing the 
economy , just as Republicans proposed to do today. According to a 
recent article in The Wall Street Journal, if the economy today under 
Obama had tracked the same as it did under Reagan, 15.7 million more 
Americans would be working today and per capita income would be $4,000 
higher than it is today, $16,000 higher for a family of four.
  Mr. Speaker, freedom works. It is time we put it back to work.

                          ____________________