September 07, 2012
WASHINGTON, D.C. – Amid a barrage of recent disappointing economic news, Americans learned today that the nation’s unemployment rate hit 8.1 percent in August 2012 and the country created fewer private sector jobs than it did in July 2012 thanks to the current administration’s failed economic policies and burdensome regulations.
“After 43 consecutive months with national unemployment above 8 percent, these jobs numbers once again confirm what millions of Americans already know: the Obama Economy isn’t working,” said U.S. Senator Roy Blunt (Mo.).
The news comes on the heels of the national debt skyrocketing to a record $16 trillion this week – increasing more than $5 trillion under the Obama Administration. Meanwhile, the World Economic Forum reported that the nation’s global competitiveness ranking dropped from fifth to seventh place. America ranked first in global competitiveness when President Obama took office in 2009.
“With more than 23 million Americans unemployed or underemployed, it’s clear this administration’s failed economic policies are hampering job growth while saddling future generations with crushing debt," Blunt continued. "If we’re going to get people back to work, we must make the tough decisions to pass pro-growth tax policies, provide more certainty for job creators, and eliminate unnecessary red tape and over-regulation."
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