By: Eric Cantor – Republican Whip

“Republicans will continue to offer innovative solutions that put job creation first, and we hope that fair minded, centrist Democrats concerned about the direction this Congress
has taken will work together with us.”

WASHINGTON, D.C. – House Republican Whip Eric Cantor (R-VA) today issued the following statement after the Bureau of Labor Statistics reported that the U.S. economy lost nearly 467,000 jobs in June, continuing rampant job loss and bringing the unemployment rate to a whopping 9.5%:

“First and foremost, the American people are concerned about the economy, job creation and the unsustainable debt obligations incurred in the last six months. Beginning in January, House Republicans laid out a serious and substantive agenda that put jobs first. House Democrats, along with the White House, instead took an unfocused, ‘go it alone’ approach that has fallen well short of its goals and has failed to create jobs.

“Inexplicably, instead of focusing on jobs and restoring the financial security that has been lost by millions of struggling families, the President continues to push an agenda that the majority of Americans are uneasy with. The American people do not support a government healthcare plan that will increase costs, reduce patient choice and flexibility, and lower the quality of care available in our country. The American people do not support the radical Cap & Tax plan which will impose a hard-hitting tax upon families and small businesses costing our struggling economy thousands of jobs.

“As job losses continue to mount, families’ worries about losing their healthcare, paying their mortgage, and sending their children to college continues to intensify. Employment must be our focus, yet Speaker Pelosi and the unchecked Democrat majorities continue to increase Washington’s hand in the free market, at the expense of job creation. At some point, even the Speaker must realize that enough is enough. Republicans will continue to offer innovative solutions that put job creation first, and we hope that fair minded, centrist Democrats concerned about the direction this Congress has taken will work together with us.”

FISCAL TIMELINE, 2009

• February 13, 2009: Democrat House passes s$787 billion timulus without Republican input.

• February 17, 2009: $787 billion stimulus signed by President Obama.

• February 23, 2009: Bipartisan budget summit (Total debt outstanding: $10.839 trillion).

• March 11, 2009: $410 billion appropriations bill enacted, with over 8,500 earmarks.

• March 11, 2009: President announces earmark reforms after passage.

• March 24, 2009: Presidential prime time news conference (Total debt outstanding: $11.046
trillion).

• April 20, 2009: Presidential $100 million savings announcement (Total debt outstanding:
$11.189 trillion).

• April 29, 2009: House passes irresponsible $3.6 trillion budget.

• End of April, 2009: Administration bails out Chrysler.

• May 7, 2009: President submits savings proposal of .5% of the budget (Total debt outstanding: $11.256 trillion).

• End of May, 2009: Administration purchases GM (approx $50-$70 Billion).

• June 4, 2009: House Republican propose $375 billion in common-sense taxpayer savings ti Administration.

• June 9, 2009: President holds a PAYGO summit.

• June 15, 2009: CBO announces that the Kennedy-Dodd Govt. Healthcare bill would cost more
than $1.3 trillion over ten years.

• June 16, 2009: House Democrats pass $100.9 billion Supplemental spending bill, plus $108 billion in “loans” to the International Monetary Fund.

• June 23,24,25, 2009: U.S. Treasury forced to auction a record $104 billion in Treasury notes
to cope with America’s debt obligations.

• June 26: Speaker Pelosi brings cap & tax legislation – that will cost millions of jobs and impose a crippling energy tax upon working families – before House of Representatives.

• July 2: Unemployment rate in U.S. reaches 9.5% after 467,000 jobs lost in June.

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