Friday, November 2, 2012 10:02 am

GALLATIN, TN – Congressman Diane Black (R-TN) issued the following statement today regarding the October unemployment report released by the Bureau of Labor Statistics.

 “While President Obama claims the country is moving forward, the October jobless report showing an increase of unemployment to 7.9 percent is a stark reminder th at his rhetoric could not be further from reality. Today, employment is higher than when the president took office and 23 million Americans are struggling to find work as job creation fails to keep pace with population growth. At the current rate, America will not reach full employment for another decade. President Obama’s failed policies of four straight years of more than $1 trillion deficits; massive new regulations; insistence on higher taxes for small businesses; and a government-takeover of our health care system have resulted in the weakest economic recovery since the Great Depression. Under the president’s leadership, America has had 6.7 percent GDP growth the past three years compared to Reagan’s 18.5 percent in the first three years of the Reagan recovery.

“In 2009, the president told the American people that if the Democratic Congress passed his stimulus plan, the unemployment rate would be at 5.4 percent today. The difference between the president’s rhetoric and reality is 8 million jobless Americans. It is clear that by the president’s own estimations his economic policies have failed. To jump-start our ailing economy, we need to provide regulatory relief, enact pro-growth tax reform, shrink the size of government and repeal Obamacare. House Republicans have already passed more than 30 jobs bills that address each of those issues. America is long overdue for a president and Senate who are committed to working with the House to turn this country around and get Americans back to work.”

 Congressman Diane Black serves on the House Budget Committee and the Ways and Means Committee