Paul Ryan on the Need to Combat Cronyism and Promote Upward Mobility
At House Budget Committee hearing, Ryan responds to dismal jobs report and the need for principled solutions
June 1, 2012
Following another dismal jobs report, the House Budget Committee held a hearing this morning on cronyism and the government-imposed barriers to economic growth and upward mobility. Throughout this morning’s hearing, Chairman Paul Ryan of Wisconsin, former Governor Jeb Bush of Florida, and members of the committee made the case for equal opportunity and a level playing field so Americans can prosper.
Highlights from House Budget Committee Chairman Paul Ryan:
RYAN ON THE PRESIDENT’S ECONOMIC AGENDA: “IT’S NOT WORKING”
We just got the employment numbers about a half hour ago. Only 69,000 jobs added last month. The last two months, job growth was revised downward by 49,000 jobs. The unemployment rate has now gone up to 8.2%. The U-6 unemployment rate – people who are looking for a job but can’t find one, people who stopped looking for a job, or people in a part-time job that want a full-time job – went from 14.5 percent up to 14.8 percent. It’s not working. The economic policies in place in Washington today are not working.
RYAN ON THE BIPARTISAN FAILURE TO COMBAT CRONYISM: “THOSE WHO KNOW THE WAYS OF WASHINGTON END UP GETTING THE BENEFITS”
Both parties have messed this up. Republicans and Democrats alike have believed in putting preferences into law for a selected industry and for a selected company. It’s helpful to look at the track record of this bipartisan idea that government is smarter and better at picking winners and losers in the marketplace. What we have learned from this bipartisan approach is that corruption does occur, cronyism does occur, and what ends up happening is those who are connected, those who have established connections, those who know the ways of Washington end up usually getting the benefits. We end up erecting barriers to entry that protect established, connected businesses, which necessarily comes at the expense of tomorrow’s entrepreneur. That makes it harder for people to rise.
RYAN ON EQUALITY AND GROWTH: “OUR GOAL IN AMERICA IS TO ADVANCE THE STARTING LINE AND PROMOTE EQUAL OPPORTUNITY”
Let’s recognize that both parties messed this up. Let’s go back with what works: entrepreneurship; small business growth; risk taking; transparent regulations that are fair for all; equality before the law. That’s what we are trying to reestablish here. What we’re saying is the same rules apply to everybody, so that you – based on your own merit, your own God-given talent – that determines success. Our goal in America is to advance the starting line so that we can promote equal opportunity so people can make the most of their lives instead having Washington pick and choose winners and losers.