Skip to main content
Part of complete coverage on
 

Obama, where is the recovery?

By John Thune, Special to CNN
June 22, 2012 -- Updated 1452 GMT (2252 HKT)
A job fair in New York City in June.
A job fair in New York City in June.
STORY HIGHLIGHTS
  • John Thune: Two years ago this week, Obama claimed that economy will improve
  • Thune: Today, Americans are still waiting for the recovery
  • He says Republicans have a better plan: Repeal health care law, stop tax hike, cut spending
  • Thune: Road to real recovery is not doubling down on the failed policies of the past few years

Editor's note: John Thune is a senator from South Dakota and the chairman of the Senate Republican Conference. He serves on the Senate Budget and Finance Committee.

(CNN) -- Two years ago this week, the Obama administration hailed the advent of the "Summer of Economic Recovery." The president's stimulus bill had passed a Democratic-controlled Congress just over a year before, accompanied by rosy predictions on job creation from the administration.

President Obama claimed that "the economy is headed in the right direction," and Vice President Joe Biden confidently predicted the creation of 250,000 to 500,000 new jobs a month. Meanwhile, Treasury Secretary Timothy Geithner published an op-ed in The New York Times boldly entitled "Welcome to the Recovery."

Two years later, Americans are still waiting for the recovery. Today's job figures are well below the 250,000 to 500,000 jobs per month that Vice President Biden forecast. This year, the economy created a dismal 77,000 jobs in April and just 69,000 jobs in May, less than half of the 150,000 jobs needed each month just to keep up with population growth. Unemployment, which the White House predicted would shrink below 6% by April 2012, has remained at or above 8% for 40 straight months.

It doesn't take an economist to realize the president's economic policies have spectacularly failed to make things better.

John Thune
John Thune

Yet, the president doesn't seem to understand just how badly Americans are hurting. Despite the more than 23 million Americans who remain unemployed or underemployed, the president recently claimed that the private sector is "doing fine" and that what America actually needs is more government spending and more government workers. In other words, more of the same. More stimulus spending from Washington that explodes the debt. More government picking winners and losers. More taxes. More regulation.

It's time to try something new.

Fed warns of economic slowdown

Republicans have a plan to get our economy moving again. First, we need to ensure businesses are confident enough to expand and hire more workers. That means stopping the job-killing regulations that are strangling small businesses and reforming our burdensome and complicated tax code to fuel economic growth. It also means stopping a large tax increase, which is scheduled to hit next year unless Congress acts. The threat of this massive tax hike is creating serious economic uncertainty and discouraging companies from hiring more workers.

We can create tens of thousands of new American jobs by encouraging the development of America's vast energy resources and supporting truly shovel-ready projects like the Keystone XL pipeline, which would create an estimated 20,000 jobs, according to TransCanada, while boosting domestic energy production.

We also need to protect jobs by repealing the president's health care law, which is driving up health care costs and making it harder for small businesses to hire workers. The director of the Congressional Budget Office testified that the health care law will mean 800,000 fewer jobs over the next decade. Those are jobs Americans can't afford to lose.

Finally, we need to cut reckless government spending and tackle the mounting debt crisis. America's brightest days are ahead. But if we don't take action soon, our country could end up in the kind of financial disaster Greece and Spain are facing. Our children and grandchildren should not have to pay for Washington's inability to stick to a budget. We owe it to the next generation to leave the country better than we found it.

The first step on the road to real recovery is not doubling down on the failed policies we've seen over the past 3½ years. Republicans are ready to get to work to jump-start our economy. We hope Democrats will join us.

Follow us on Twitter @CNNOpinion

Join us on Facebook/CNNOpinion

The opinions expressed in this commentary are solely those of John Thune.

ADVERTISEMENT
Part of complete coverage on
August 19, 2014 -- Updated 2203 GMT (0603 HKT)
It used to be billy clubs, fire hoses and snarling German shepherds. Now it's armored personnel carriers and flash-bang grenades, writes Kara Dansky.
August 19, 2014 -- Updated 1424 GMT (2224 HKT)
Maria Haberfeld: People who are unfamiliar with police work can reasonably ask, why was an unarmed man shot so many times, and why was deadly force used at all?
August 18, 2014 -- Updated 2152 GMT (0552 HKT)
Ruben Navarrette notes that this fall, minority students will outnumber white students at America's public schools.
August 19, 2014 -- Updated 2121 GMT (0521 HKT)
Humans have driven to extinction four marine mammal species in modern times. As you read this, we are on the brink of losing the fifth, write three experts.
August 19, 2014 -- Updated 1158 GMT (1958 HKT)
It's been ten days since Michael Brown was killed, and his family is still waiting for information from investigators about what happened to their young man, writes Mel Robbins
August 20, 2014 -- Updated 1354 GMT (2154 HKT)
Sally Kohn says the Ferguson protests reflect broader patterns of racial injustice across the country, from chronic police violence and abuse against black men to the persistent economic and social exclusion of communities of color.
August 18, 2014 -- Updated 1242 GMT (2042 HKT)
The former U.K. prime minister and current U.N. envoy says there are 500 days left to fulfill the Millennium Goals' promise to children.
August 18, 2014 -- Updated 1310 GMT (2110 HKT)
Julian Zelizer says the left mistrusts Clinton but there are ways she can win support from liberals in 2016
August 20, 2014 -- Updated 1359 GMT (2159 HKT)
Peter Bergen says the terror group is a huge threat in Iraq but only a potential one in the U.S.
August 16, 2014 -- Updated 1734 GMT (0134 HKT)
Mark O'Mara says the way cops, media, politicians and protesters have behaved since Michael Brown's shooting shows not all the right people have learned the right lessons
August 17, 2014 -- Updated 1523 GMT (2323 HKT)
Retired Lt. Gen. Mark Hertling says the American military advisers in Iraq are sizing up what needs to be done and recommending accordingly
August 15, 2014 -- Updated 1941 GMT (0341 HKT)
Marc Lamont Hill says the President's comments on the Michael Brown shooting ignored its racial implications
August 15, 2014 -- Updated 2146 GMT (0546 HKT)
Joe Stork says the catastrophe in northern Iraq continues, even though many religious minorities have fled to safety: ISIS forces -- intent on purging them -- still control the area where they lived
August 14, 2014 -- Updated 2226 GMT (0626 HKT)
Tim Lynch says Pentagon's policy of doling out military weapons to police forces is misguided and dangerous.
August 15, 2014 -- Updated 1315 GMT (2115 HKT)
S.E. Cupp says millennials want big ideas and rapid change; she talks to one of their number who serves in Congress
August 14, 2014 -- Updated 2357 GMT (0757 HKT)
Dorothy Brown says the power structure is dominated by whites in a town that is 68% black. Elected officials who sat by silently as chaos erupted after Michael Brown shooting should be voted out of office
August 14, 2014 -- Updated 1149 GMT (1949 HKT)
Bill Schmitz says the media and other adults should never explain suicide as a means of escaping pain. Robin Williams' tragic death offers a chance to educate about prevention
August 15, 2014 -- Updated 1505 GMT (2305 HKT)
Nafees Syed says President Obama should renew the quest to eliminate bias in the criminal justice system
August 14, 2014 -- Updated 2024 GMT (0424 HKT)
Eric Liu says what's unfolded in the Missouri town is a shocking violation of American constitutional rights and should be a wake-up call to all
August 13, 2014 -- Updated 1922 GMT (0322 HKT)
Neal Gabler says Lauren Bacall, a talent in her own right, will be defined by her marriage with the great actor Humphrey Bogart
August 15, 2014 -- Updated 1056 GMT (1856 HKT)
Bob Butler says the arrest of two journalists covering the Ferguson story is alarming
August 13, 2014 -- Updated 2035 GMT (0435 HKT)
Mark O'Mara says we all need to work together to make sure the tension between police and African-Americans doesn't result in more tragedies
August 18, 2014 -- Updated 2006 GMT (0406 HKT)
Pepper Schwartz asks why young women are so entranced with Kardashian, who's putting together a 352-page book of selfies
August 13, 2014 -- Updated 2308 GMT (0708 HKT)
Michael Friedman says depression does not discriminate, cannot be bargained with and shows no mercy.
August 12, 2014 -- Updated 1525 GMT (2325 HKT)
LZ Granderson says we must not surrender to apathy about the injustice faced by African Americans
ADVERTISEMENT