GOPAC Chairman Frank Donatelli shared the following statement today in response to the U.S. Labor Department’s report that the economy added 88,000 jobs in March and the labor force participation rate declined to 63.3%, the lowest since 1979:
The disappointing job growth reported today shows exactly what effect President Obama’s policies are having on the economy. His massive tax increases beginning this year have clearly had a strong negative impact on job growth. Worse, if economic growth slows, his huge budget deficits will grow even more. With more tax increases planned for the coming years to pay for Obamacare, it’s hard to see how his fiscal policies can produce anything better than our current struggling economy. We desperately need a new direction that encourages private sector job creation through a smaller federal government.
Many states across our nation run by Republicans, have adopted pro-growth policies that streamline regulation and reduce taxes. Businesses in these states are building, investing and hiring. The Obama administration needs to follow the examples set by these states. Only by decreasing taxes and burdensome regulations will we finally see relief from stagnation.
Our recovery will be led by the private sector, but only if this administration will eliminate crippling uncertainty and unnecessary government burden.