Today’s announcement that we lost 36,000 more jobs in February means the economy has shed 3.3 million jobs since the Democrats’ “stimulus” was passed. As the chart below shows, the unemployment rate remains at 9.7 percent – almost 30 percent higher than the Administration promised it would be.
In response to this latest economic news, Ways and Means Ranking Member Dave Camp (R-MI) issued the following statement:
“The economy is not creating the jobs American families desperately need. Many of the employers who could be hiring are holding back because they don’t yet know what their tax burden is going to be or what new regulations they will have to meet. The inability of this Congress to extend critical tax policy, act on pending free trade agreements and hold back on new job-killing regulations is paralyzing our economy. These numbers make it clear that instead of spending virtually every day trying to ram through a government takeover of health care that the American people don’t want and can’t afford, Congress should be laser focused on promoting job creation and economic growth.”
Source: January 2009 Romer/Bernstein report and Department of Labor data.