I thank my friend from Washington for yielding me some time. My name is Lynn Jenkins, and I am a Republican woman in my second term from the Second District in Kansas. Before entering public office, I worked for over a dozen years in…
I thank my friend from Washington for yielding me some time.
My name is Lynn Jenkins, and I am a Republican woman in my second term from the Second District in Kansas. Before entering public office, I worked for over a dozen years in public accounting as a certified public accountant helping businesses and individuals with their tax planning, their tax compliance, and I did that so they could focus on what they did best and that was create jobs and be successful for their local economies.
I originally ran for office for the House of Representatives in Kansas, because I was frustrated by the burdens the State government placed on my clients and the families. As a member of both the Kansas House and the Senate and then as State treasurer for a term and a half, I was pleased to help Kansas work to secure sound economic policies.
But several years ago, I became increasingly concerned about the policies of the Federal Government and how they were holding back our citizens and our job creators. So I ran for Congress, and I am honored to be here this evening with my fellow Republican women to highlight the Republicans' plan to promote job growth.
Over 2 years ago when I came to Washington, my goal was to pass policies to stimulate the flagging economy and get us back on firm financial footing. Unfortunately, one of the first things the Democrat majority did at that time was to ignore our proposals for economic growth and choose instead to pass a stimulus package that we Republicans opposed. And just as we predicted at the time, it has failed.
Let's look at some of the facts. The White House advisers said that passing the stimulus would keep unemployment below 8 percent. The unemployment rate is currently over 9 percent, and it has been above 8 percent for more than 2 years. I've got a visual aid here that shows a new study by economists from the University of Western Ontario and Ohio State University found that the President's failed stimulus, the largest stimulus in American history, destroyed or forestalled roughly 1 million private sector jobs. Taxpayers will end up paying $1.16 trillion for all the private sector jobs lost or forestalled by the Democrats' stimulus.
The facts tell us the total cost of the Democrats' stimulus, according to the nonpartisan Congressional Budget Office, to be over $820 billion, and interest on the debt for the bill will be nearly $350 billion for over a $1 trillion pricetag. The number of net jobs the economy has shed since the Democrat stimulus was signed into law is reaching almost 2 million. In the last 12 months, entrepreneurs have started up the fewest new U.S. businesses in more than a decade. The national debt has increased by more than $3.5 trillion.
The Federal Government shouldn't be in the business of job creation. We should be focusing our efforts here in Congress on putting policies in place that encourage private sector job growth, and that's why I'm so proud of the Republicans and their job proposal that's before us. Included in the proposal are many reforms. Some include an opportunity to fix the Tax Code to help job creators; spur investment; create more American jobs by streamlining our Tax Code; by increasing competitiveness for American manufacturers; by reining in this unsustainable debt and start living within our means; addressing the issue of regulatory overreach; and encouraging entrepreneurship and growth.
So, tonight, along with my fellow Republican women from across this Nation, I'm calling upon our President and the Democrat majority in the Senate to work with us. Help us pass our jobs plan so we can get Americans back to work.