FRANKLY SPEAKING: The Path to Prosperity is a Path to New Jobs
It’s spring in Washington. The baseball season is about to begin, the cherry blossoms are blooming, and the House of Representative is fulfilling its annual responsibility to produce a federal budget for the coming fiscal year.
The House Budget Committee (on which I serve) presented our spending plan for FY 2013 a few days ago. It’s called the Path to Prosperity, and it’s a productive package of reduced spending, lower debt and deficits and a bipartisan plan for safeguarding Medicare for Granite Staters who are currently receiving its benefits, as well as protecting it for future generations.
I’d like to share with you another advantage you may not have considered. You see, the Path to Prosperity is also a Path to New Jobs. Here’s why.
America’s entrepreneurial spirit has been reluctantly pacing on the sidelines the last few years. Job creators have watched while Congress indulged in a reckless spending spree that has driven our debt and deficit to unsustainable levels. They’ve seen the passage of a healthcare reform law that’s so massive –and which carries serious financial implications for small businesses– that its projected cost has doubled.
But there’s something they haven’t seen. Congress hasn’t passed a federal budget since 2009. For more than 1,050 days now, the Senate’s Democratic leaders have been content to sit back and keep spending on autopilot through a series of short-term spending bills.
What will tomorrow hold in store for our nation’s finances? Without a budget, no one can say for sure. And that uncertainty is keeping job creators from taking a chance and starting new businesses or expanding payrolls by hiring new employees.
Consider this: if you were about to invest a large amount of money to launch a new venture or to grow an existing one, wouldn’t you want to know what economic conditions you could expect in the near future? Of course you would. It’s just common sense.
That unpredictability and lack of stability is freezing job creators in their tracks. It’s holding them back from doing what they do better than anybody else in the world: innovate, operate and expand. It’s keeping them from creating the good, middle class jobs that we must have to pull the economy out of the financial doldrums.
The Path to Prosperity is the perfect remedy. It would cut federal spending by $5 trillion over a decade compared to the Administration’s budget request. It would reduce the deficit by $3 trillion over that same time, compared to theirs.
It also restores economic freedom and ensures a level playing field for all by ending corporate welfare and special-interest favoritism. And it reforms our broken tax code to spur job creation and economic opportunity by lowering rates, closing loopholes and putting hardworking taxpayers ahead of special interests.
When you get right down to it, the Path to Prosperity is about ending a bankrupt government’s empty promises. It’s about revitalizing the hope that is the very foundation of the American Dream: making sure our children will have more opportunity than we do, and leaving them a stronger America than our parents passed on to us.
We simply can’t continue on our current course without serious consequences. The stakes are very real and very high. The Path to Prosperity reflects this. The budget submitted by the Obama Administration shows it isn’t serious about delivering on its promise to cut the deficit in half by the end of the president’s first term. And three straight years without a vote on any budget proposal shows the Senate remains unserious about an issue that carries significant consequences for all of us.
The good, middle class jobs we need can return again. And passing the Path to Prosperity is the first step to enable job creators to bring them back.
You can read full details about the Path to Prosperity by visiting http://budget.house.gov/prosperity/.
I look forward to reporting back to you in two weeks on the latest developments in Washington. In the meantime, if I can be of service to you, or if you want to share your thoughts, suggestions or concerns with me, please call either my district office in Manchester at (603) 641-9536 or my Washington office at (202) 225-5456, or contact me through my website at www.Guinta.House.Gov. You can also follow what I’m doing 24/7 on Facebook at www.facebook.com/repfrankguinta and on Twitter at @RepFrankGuinta.
Until next time, please know that I am always on your side and am actively fighting for New Hampshire’s interests in Washington.