U.S. Representative Kevin Brady (R-TX), Vice Chairman of the Joint Economic Committee, used the third anniversary of President Obama’s signing of his “stimulus” proposal into law to compare how the economy has performed under the Reagan and Obama recoveries.
“President Obama has a serious jobs gap as a result of his poor economic policies, especially the stimulus,” said Brady. “Comparing recoveries, America would have 10.8 million more payroll jobs than we do today if payroll employment had grown at the same rate from the end of the recession during the Obama recovery as it had during the Reagan recovery.”
Brady notes that faced with similarly deep recessions, Reagan and Obama pursued diametrically opposed economic policies. Measuring the difference in job performance during the Reagan and Obama recoveries provides a ‘real world’ experiment on whose economic policies are superior, says the GOP economic leader.
“Reagan reduced marginal income tax rates, rolled backed excessive regulations and restored confidence among investors. In contrast, President Obama has obsessively pursued higher taxes on job creators, unleashed a torrent of strangling regulations and forced through a government health care law that is exacerbating uncertainty among investors.”
“The numbers speak for themselves. The Obama jobs gap is real, especially for the millions of Americans who can’t find a job.”
“President Obama’s policies slowed this recovery. Reagan showed us what we must do to reduce unemployment and grow the economy,” Brady says. “Again, I call upon the president to reverse course and follow Reagan’s lead to a stronger recovery.”