INHOFE CITES DEBT AND OVER-REGULATION FOR ECONOMIC WOES

WASHINGTON, D.C. – U.S. Sen. Jim Inhofe (R-Okla.), a leading fiscal conservative, today made the following statement after the Department of Labor announced the nation’s unemployment rate climbed to 9.2 percent in the month of June, with employers only adding 18,000 jobs:

“Under the leadership of President Obama and his fellow Democrats, our nation’s economic recovery has stalled out. Today’s news on unemployment should finally put to rest the idea, embodied by President Obama’s big-spending stimulus bill, that we can spend ourselves into prosperity. On the contrary, all this spending has ballooned our debt, and now that debt is weighing us down, creating uncertainty and hurting confidence. In addition, every single day Washington bureaucrats issue new rules and regulations that are expensive to comply with and rob businesses of capital for investment and job growth. When I meet with business leaders in Oklahoma, I hear the same thing over and over again: President Obama’s regulatory agenda is hurting job growth, not helping it. He’s making things worse.”  

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