I want to talk today about the economy and jobs, and the concerns I have that not only has the Republican agenda jeopardized our recovery, but that political gamesmanship is trumping the vital needs of hard working Americans across the country.
It is time to stop beating around the bush and call it as it is. The evidence is clear: the Republican approach of ‘cut, cut, cut’ over the last six months has undermined our economic recovery.
Toward the end of last year, the recovery was gaining momentum – GDP grew 2.6% in the third quarter and 3.1% in the fourth quarter. But in the first half of 2011, as the federal government increasingly withdrew support from the economy and Republicans continually blocked us from doing anything to create jobs, growth has fallen to less than 2%.
The Republicans can say all they want that we can cut our way to prosperity, but is at odds with all the empirical evidence we have. We know from history, as well as from what we are seeing in other parts of the world right now, that cuts on the scale they have proposed in the middle of a recession will lead to lower economic growth and less job creation, not more.
And we need to start asking ourselves an uncomfortable question – are Republicans slowing down the recovery on purpose for political gain in 2012? It’s one thing for them to block programs they have always opposed. But when they start to contradict themselves by opposing programs they have supported—such as pro-business tax cuts—we are left to wonder.