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Jobs and the Economy

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President Obama inherited an economy in free fall, with huge deficits, skyrocketing health care costs, dwindling employment, and banking and housing markets on the brink of collapse. Working with the President, Democrats stabilized the financial system and helped to prevent a second Great Depression. An economy that was losing 700,000 jobs a month is now gaining jobs. We still have a long way to go, but we are now moving forward on the road to recovery.

President Obama and Democrats are fighting to strengthen our economy further and create jobs for American workers by ending tax loopholes for corporations, providing tax cuts to small businesses, investing in a clean-energy economy, and putting Americans to work rebuilding our infrastructure.

Recent Updates
  • “The worst of the Ryan budgets”

    Paul Ryan's "new" budget isn't just more of the same failed policy that the American people rejected decisively in the fall—it's "the worst of the Ryan budgets," "callous," and "ill-conceived." Share this if you're not interested in the Ryan-Republican top-down approach to our economy.

    Paul Ryan's "new" budget isn't just more of the same failed policy that the American people rejected decisively in the fall—it's "the worst of the Ryan budgets," "callous," and "ill-conceived." Share this if you're not interested in the Ryan-Republican top-down approach to our economy.

  • New Washington Post–ABC News poll shows it’s time for Republicans to listen to the American people

    After experiencing a devastating loss on November 6, you’d think that Republicans would have learned one of the lessons of the election: put aside ideology and work with Democrats on balanced solutions to the challenges America faces. But as we’ve seen over the past few months, Republicans continue to push the extreme positions that the American people rejected last November and are refusing to meet President Obama and Democrats halfway to find a balanced approach to our nation’s fiscal issues. We’ve seen this most clearly during the sequester debate: While Americans want the sequester to end and replace it with a smarter, balanced approach that asks the wealthy to pay a little more, Republicans are sticking to a cuts-only approach that slashes the very investments our nation needs to make to create jobs and get our economy humming again. Rather than taking stock after losing yet another national election on the very issues that are dominating the current debate over fiscal issues and trying to find common ground, Republicans are doubling down on their failed approach—and voters are noticing.

    Today’s Washington Post–ABC News Poll tells exactly that story. Americans’ disapproval of congressional Republicans is a stunning 72 percent—their highest disapproval in more than a year, not coincidentally coming one week after the GOP-forced sequester began. Why is this? Because Republicans refuse to compromise to get anything done. They refused to work with the President to find a solution that would have averted the sequester, and now the public is rejecting the indiscriminate across-the-board cuts Republicans chose over closing even one loophole that benefits the wealthiest. In fact, support for the Republican approach is dropping like a rock. In a WaPo-ABC poll prior to the sequester, 61 percent of Americans supported the cuts. Today, only 39 percent of Americans in the WaPo-ABC poll approve of them.

    And it gets worse for the GOP. Today’s poll shows that Americans are worried about the effects of the GOP sequester on the economy—only 28 percent want the cuts to continue, and by a 2-to-1 margin, Americans believe the cuts will hurt our economy and our military readiness. It’s perhaps not surprising then that today’s poll found that nearly half of all Americans—47 percent—blame Republicans for the sequester itself.

    And Americans don’t just blame Republicans for the sequester. They also reject their approach to replacing it and their fiscal priorities generally. A whopping 71 percent of Americans disapprove of Republicans’ proposals to cut Medicaid, and six in 10 oppose raising the Medicare eligibility age to 67.

    Despite all this, Republicans have embraced the sequester and a cuts-only approach to addressing our fiscal challenges. Republicans have alternatively praised the sequester or attempted to downplay its effects: One Tennessee Republican representative, Marsha Blackburn, said she and her constituents were “relieved” the sequester took place while Senator Rand Paul has said that the sequester, which could cost the country 800,000 jobs or more, is a “pittance.” Today’s poll shows Republicans are losing the argument on the sequester no matter which of those two messages, or any other, they trot out.

    Today’s WaPo-ABC poll is not a case of Republicans and the President splitting the difference on public opinion and girding for future battles on roughly equal footing. At a disapproval rating of 72 percent, congressional Republicans and their approach to the issues is being rejected by Americans from all walks of life—including by moderate (81 percent) and independent voters (74 percent). And, adding insult to self-inflicted injury, 53 percent of Republicans in the poll disapprove of the job performance of Republicans in Congress.

    My mama had some good advice for me growing up: "Son, if you’re stuck in a hole, stop digging." Republicans should put down the shovel and talk to mama.

  • The GOP sequester: Defenseless

    Republicans continue to refuse to work with President Obama and Democrats to reach a balanced approach to reducing the deficit and averting the sequester. Their insistence on putting politics first has put our nation's military preparedness on the line and jeopardized the livelihood of the 800,000 Defense Department employees who now face furloughs—the consequences of which are already being felt across the country. Here's a snapshot.

    Republicans continue to refuse to work with President Obama and Democrats to reach a balanced approach to reducing the deficit and averting the sequester. Their insistence on putting politics first has put our nation's military preparedness on the line and jeopardized the livelihood of the 800,000 Defense Department employees who now face furloughs—the consequences of which are already being felt across the country. Here's a snapshot:

    As many as 27,000 civilian military employees will be furloughed in Alabama, which will cause an estimated loss of more than $1.9 billion to the state.

    The Air Force faces furloughs for 180,000 civilian workers, resulting in the loss of 31.5 million man hours of productivity.

    Major General James McConville said in a speech at Kentucky's Fort Campbell: "I wondered if people really understood what the effects of sequestration and a pending furlough would do to our civilian workforce and the families of this division as we went off to war. I wondered if they knew that our great mission support element…will be limited to a 32-hour work week and incur a 20 percent pay cut. I wondered if they were aware that our teachers are government service employees and that the kids of our deployed soldiers will only be able to go to school four days a week."

    At El Paso's Fort Bliss, most of the 11,000 civilian employees on base will be hit with a 20 percent pay cut starting April 21 until the end of September.

    A $30 million construction project intended to fix South Bend's National Guard Armory has been put on hold because of the GOP sequester.

    Navy frigates will stop conducting drug patrols in the Caribbean and end their participation in a joint operation that stopped 160 tons of cocaine rom reaching U.S. streets—all because of the GOP sequester.

    Tell Republicans to put our country first. Add your name now.

  • Equal pay for equal work

    Women’s History Month is a time when I reflect on all of the strong women who have worked tirelessly to ensure that my voice can be heard. In order for women to continue to forge ahead on the path to full equality, we must have equal pay for equal work. One of the highlights of President Obama's State of the Union speech was making sure hard work leads to a decent living wage. Our economy is strongest when we are expanding opportunity and rewarding the hard work of every American. Raising the minimum wage from $7.25 to $9 an hour and closing the pay gap builds a ladder of opportunity into the middle class for those willing to climb it.

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GOP Sequester: Track the Impact
Recent Action
President Obama announced his Startup America Legislative Agenda
January 31, 2012
President Obama outlined his Startup America Legislative Agenda, which includes provisions that cut taxes for small businesses, gets capital to growing companies, and relieves the backlog of employment-based immigrant visas
Elevates Small Business Administrator
January 13, 2012
President Obama elevated the position of Small Business Administrator to Cabinet-level rank
Helping small businesses
Democrats passed the Small Business Jobs Act, spurring job creation by providing small businesses with tax breaks and better access to credit.
Milestones