As President Obama continues to promote his jobs plan, more flaws in his approach come to light. It appears that much of his “new” proposal is a continuation of the failed philosophy of his first “Stimulus” bill.
There are some things that I like about his bill. I like the idea of making improvements to our infrastructure, which creates immediate and long-term jobs. But the President promised that in his first “Stimulus” bill, and in the end, less than 8% of the plan was dedicated to infrastructure improvements.If there was one lesson that we should have learned with the last failed stimulus it is that we can't tax and spend our way to prosperity. We know that when government spending ends the jobs go away. And the President's idea of raising taxes to pay for this plan, as our country teeters on a recession, is not the right approach if we hope to see a recovery.
We need to encourage investment in small business by providing business owners and investors with the predictability they need to make sound investment decisions. There are tough decisions to make, but they are rooted in common sense. Let’s rein in spending, reform our tax code, eliminate the regulatory burdens imposed by government agencies, invest in our infrastructure, open new markets by passing pending free trade agreements and use American resources for energy to reduce our dependence on foreign oil.
These ideas, not more wasteful government spending, will put us on a path to prosperity and put more Americans back to work.