Redeem Our Credit Rating & Clear a Path for Jobs

Rep Jim Jordan

Rep. Jim Jordan (R-OH), Chairman, Republican Study Committee : S&P's downgrade is a warning shot the whole world saw coming. And if we don’t heed this warning with serious spending reduction, additional downgrades are likely.

Tinkering around the edges won't solve the problem. Clearly, we need to try something bolder. Even the Italians, with bigger debt problems than ours, are moving to amend their constitution to require a balanced budget.  It's time the U.S. did the same. We need to cut more, cap lower, and send a Balanced Budget Amendment to the states for ratification.

Americans are over-taxed and out of work, but Washington continues to spend more than it takes in while hindering American job creation and economic growth. The uncertainty caused by our debt problems has dampened our economy, but it's not the only thing holding back job creation. Our tax code needs reform to make us more competitive in the world market. We need a pro-American energy policy that makes use of the resources at our disposal. We also need regulatory relief. In July alone, the Obama administration proposed 229 new rules and finalized 379. These additions to the growing mountain of federal regulation will have an economic cost of $9.5 billion and countless jobs.

We have to get Washington out of the way to get the economy moving again. The way forward is clear -- cut spending, cut red tape, and force Washington to balance its budget.

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