Statement from Phil Troyer:
Troyer – “The Best Way to Create Jobs Is to Cut Federal Spending”
(FORT WAYNE) In anticipation of President Obama’s “Jobs Summit,” 3rd Congressional District candidate Phil Troyer offered his own prescription for getting America companies to begin hiring again.
“The best way to create jobs is to cut federal spending,” said Troyer. “Private companies understand they are about to be hit with additional costs – especially in the form of higher federal taxes – and therefore are unwilling to risk taking on the expense of hiring new employees.”
“For too many years – including those during which Republicans were in the majority – Members of Congress passed numerous spending bills that were primarily designed for their own self-aggrandizement and re-election,” Troyer remarked in introducing his jobs plan. “Unfortunately, they did not consider the impact that spending would have and the massive resulting debt is now a significant drag on our economy.”
While some have proposed cutting business taxes to encourage job creation, Troyer believes that approach would be short-sited. “Our national debt stands at $12 trillion and continues to rise,” Troyer noted. “According to the CEO of Exxon, the collapsing U.S. dollar has already increased the price of oil by $20 a barrel. Business owners are savvy. They understand that cutting taxes without addressing spending will simply cause the value of our dollar to collapse further, which will further increase the price of goods and services needed for production. In addition, they know Congress will simply raise their taxes again in the near future.”
“If Members of Congress would begin putting the country’s interests ahead of their own or, more realistically, if we could elect new Members of Congress who are serious about cutting spending, we could lower the federal debt, strengthen the dollar, lower the cost of goods and services, and spur economic expansion – all of which would lead to more job creation,” Troyer concluded.
“I will be interested to see where Congressman Souder will come down on this debate,” said Troyer. “He has favored government spending as a means to ‘create jobs’ in the past – most notably through his support for billions of dollars to bailout Chrysler and GM, as well as personal requests for earmarked spending. But does he really believe Congress can create sustainable jobs in the private sector? If that were true, then he needs to explain why he hasn’t been able to reduce the high unemployment rates in our region despite supporting trillions of dollars in federal spending.”