(D-Maine)
On December 3rd, President Obama hosted a jobs and economic growth forum at the White House. I appreciate that he held this forum because it’s long past time that our country refocuses its efforts on job creating policies. A recovery without jobs is not a recovery at all. That’s why I recently called on Congress and the Obama Administration to do more.
While I don’t support another stimulus package, we must push smart policies that create jobs and promote long-lasting economic growth. We must also provide assistance to unemployed Americans so that they can support their families until they are able to find a new job. And we must also pass serious reforms that will reduce our nation’s unsustainable debt.
Although some indicators suggest the economy is improving slightly, economic relief remains elusive for millions of unemployed Americans and for thousands of Mainers.
I believe that any initiatives considered by Congress must be targeted and fiscally responsible so that we can build a foundation for long-term economic growth. I outlined a few ideas in a recent letter I sent to the President and congressional leaders.
First, on the job creation front, we must invest in our transportation and infrastructure through a strong multi-year highway programs reauthorization. This will help offset the continued rise in construction unemployment, the collapse of the private construction market, and budget constraints that limit our states’ ability to finance highway and transit projects. These investments are not only proven job creators, but they also represent a long-term benefit to our communities in the form of safer roads and bridges.
We must also give our small businesses the tools they need to grow and do what they do best: create jobs. We can do this by increasing the affordability and availability of credit to small businesses through providing strong federal loan guaranties and reducing lending program fees. The House of Representatives has already acted on this, and it’s time that the Senate does too.
In addition to creating jobs and promoting long-term economic development, we must also maintain our commitment to helping those that have been hit hardest by the recession. Economists agree that the road to economic recovery will be long. That’s why it’s important to continue assistance in the form of extended unemployment insurance and COBRA health benefits. This would help struggling families and be good for our economy. For example, every dollar spent on unemployment benefits generates a $1.64 increase in economic activity.
Creating more jobs and helping the unemployed are critical pieces of our economic strategy. But they cannot be the only components of our recovery effort. We must finally begin to consistently pursue federal policies that invest taxpayer dollars wisely while at the same time do not contribute to our national debt.
Moving forward, we should do a better job at prioritizing federal programs that yield economic benefits to individuals and communities long after the economy has recovered. We must also sign statutory pay-as-you-go budget rules into law to prevent future Congresses from spending recklessly. In addition, we should pass the SAFE Commission Act, which would legislate a plan to address the untenable imbalance between federal spending and revenues. If we attempt to rebuild the economy without consideration for the trade deficit and the national debt, we will set this country on a path of economic decline, not economic recovery.
People need jobs, and there simply is no true economic recovery without them. Maine and the nation deserve a jobs plan, and every idea for job creation should be on the table. I encourage people to contact my office with their ideas so that I can incorporate them in my advocacy with the President and congressional leaders.
In the end, we must craft a pragmatic policy that addresses our short-term economic needs while promoting long-term economic goals. Doing so will put more Americans back to work sooner and provide a greater benefit to our nation over time.
