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Paul Ryan: Washington's Misguided Policies Are Making Economy Worse

At CBS News’ town hall, House Budget Committee Chairman makes case for pro-growth reforms to spur job creation

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Washington, June 14, 2011 | comments

WASHINGTON – Yesterday, Representative Paul Ryan participated in CBS News’ Town Hall with Republican Leaders. The town hall aired on the CBS’ Early Show this morning and can watched in its entirety here. In addition, Chairman Ryan’s op-ed published yesterday, Obama’s Economic Experiment Has Failed – Time to Get Back to What Works, can be read here

The following are highlights of Chairman Ryan at the CBS News’ town hall on jobs and the economy:


How to Fix the Economy and Create Jobs:

“I'd go in the opposite direction on spending, on taxes, on debt and deficits. Get rid of all the uncertainty in the economy. [President Obama is] promising huge tax increases on successful small businesses - I wouldn't do that. Keep taxes low and get spending under control so we don't have a debt crisis.”

Washington’s Spending Directly Hurts Job Creation:

“Jobs come from economic growth. Economic growth gives us more revenues, which helps us get down the deficit. The huge deficit we have is nothing more than tomorrow's interest rate increases or tax rate increases. When government runs huge deficits, like it is today, what that tells businesses who are sitting on capital and not hiring is: ‘Look out, my taxes are going to go up tomorrow or we're going to have an inflation interest rate problem tomorrow.’ And so, it is these massive deficits that are showing businesses that there's an uncertain future, an uncertain future with which they don't want to invest in.”


America’s Corporate Tax Rate Harms Job Creation:

“We have to recognize, if we tax our employers, our producers a lot more than our foreign competitors tax theirs, they win, we lose. Right now, we have the highest corporate tax rate now that Japan is lowering theirs than any other industrialized country….We are taxing our businesses, our manufacturers in America, a lot more than our foreign competitors tax theirs. And what is the government telling them? ‘You're going to pay higher taxes.’  What is the government doing? Running up record deficits that mean even higher taxes. So, even though the president's proposing over $2 trillion in new tax increases on these businesses, we still aren't solving our fiscal problem and it's putting a chilling effect on hiring.”

House Republicans Are Leading When Democrats Won’t:

“We’ve put ideas on the table. We've passed ideas in the House. We've said, ‘Here's how we think we balance the budget. Here's how we save Medicare. Here's how we create jobs.’ We're putting these bills out there. We're passing these bills because we think you need to do is lead with your ideas, defend your ideas. And what we're having is basically the crickets are chirping. We're not seeing any action from any of our legislative partners on the other side of the aisle.”

Watch video of the entire town hall here.
To learn more about the House-passed FY2012 budget – The Path to Prosperity: /fy2012budget/

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