WASHINGTON, DC- House Majority Whip James E. Clyburn today released the following statement on President Obama’s Budget request for the 2011 fiscal year:
“The federal budget is a moral document which reflect the priorities of the American people. In these troubling times, President Obama’s budget lays out a vision of recovery for American families and businesses and redoubles our efforts to strengthen the economy and spur job creation. Despite inheriting an ailing economy and record budget deficits, the President and Congress have kept the country from experiencing a second Great Depression. Thanks to key initiatives like the American Recovery and Investment Act around two million jobs have been saved or created in the last year. This time last year the economy was shrinking by a rate of over six percent, but over the last year has made a dramatic turnaround. In the last quarter alone the U.S. economy grew at its fastest pace in six years.
“My colleagues and I understand these are still trying times and Americans are facing tremendous challenges. Unemployment stands at over ten percent and consumers are hesitant to invest their hard-earned money in such a precarious environment. Job creation is a cornerstone of this budget and will remain this Congress’ top priority until every job-seeking American finds employment.
“I believe we should not only encourage job creation but should guarantee long term growth by investing in education and controlling spending. This budget will build on the successes of last year with targeted investments that will encourage private sector employment. Small businesses and entrepreneurs will receive access to credit and small businesses will see taxes on their investments cut entirely. The budget will also fund a wide array of education initiatives that will help us compete in the global economy. Strict budget controls will be instituted to curb deficits.
“Also included is a return to budget discipline that brought us record surpluses in the late ’90’s. This week the Congress will send to the President statutory PAYGO legislation which requires that if you spend a dollar, you have to save a dollar elsewhere in the budget.
“Times like these call for difficult decisions. The fact remains that we are not going to grow the economy simply by wishing it so; direct and immediate action must be taken to stem the tide of unemployment. The President’s Budget reinforces our ongoing efforts to return our economy to full employment and will help ensure long term economic prosperity.”