Under Foster's Party’s Failed Policies, Unemployment Remains High Due to Slower Than Expected Economic Growth

From the National Republican Congressional Committee (NRCC)…

Small Businesses Remain Stunted as They Carry the Burden of the Dem Party’s Wasteful Spending Agenda

WASHINGTON — The national unemployment rate for May was announced at 8.2 percent following the release of a gloomy report exposing the first quarter economic growth rate at an underwhelming 1.9 percent, falling short of the 2.2 percent experts had predicted. Small businesses have been unable to gather speed as they consistently get knocked down by Bill Foster’s party’s reckless spending habits and hyper-regulatory regime.

“May’s unemployment rate is a telltale sign that the irresponsible agenda that Bill Foster’s party is championing in Washington is not resonating with Illinois families and is not growing the economy,” said NRCC Communications Director Paul Lindsay. “Illinois families are wondering if Foster can break from his party’s failed economic policies in Washington and get people back to work.”

In May, the national unemployment rate stayed debilitatingly high at 8.2 percent. (U.S. Bureau of Labor Statistics, Accessed 6/1/2012)

Small businesses have not been afforded an environment for growth thanks to Washington Democrats’ agenda, apparent as the first quarter reports a lackluster growth rate:

“The U.S. economy grew at an annual rate of 1.9 percent in the first three months of the year, the Commerce Department said in its second of three estimates of January-March growth. That’s lower than its initial estimate of 2.2 percent.” (Martin Crutsinger, “US economy appears weaker ahead of jobs report,” Associated Press, 5/31/2012)

A new CBO report exposes that each job created by Democrats’ failed $831 stimulus may have an attached $4.1 million price tag:

“They increased the number of people employed by between 0.2 million and 1.5 million,

“They increased the number of full-time-equivalent jobs by 0.3 million to 1.9 million…”

“That means the current cost-per-job created is somewhere between $4.1 million and $540,000.” (James Pethokoukis, “CBO: Obama stimulus may have cost as much as $4.1 million a job,” The American’s Enterprise Blog, 5/30/2012)

www.nrcc.org

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