Tag Archives: jobs

Private Sector Job Growth Stalls, Labor Force Shrinks

The August 2012 Ohio by the Numbers report hows that several recent months of solid private sector job growth hit a snag in August. According to preliminary Bureau of Labor Statistics data, Ohio’s private sector lost 2,900 jobs, freezing the state’s ranking at 13 for the fastest growing private sector since January 2010.

Overall, 2012 has seen reasonable private sector job growth numbers with nearly 96,000 created since January.

Ohio’s unemployment rate remained at 7.2 percent in August, which is nearly a full percent below the national average of 8.1 percent. However, the fact that Ohio’s labor force shrunk by 19,100 in August constitutes a significant cause for concern. This represents the third month in a row that the labor force has gotten smaller in Ohio. In fact, it has shrunk by 59,900 since May while the total number of private sector jobs created over that time span was only 34,800.

Overall highlights from the report:
  • Ohio lost 2,900 private sector jobs in June while gaining 900 government jobs;
  • Ohio remains 13th nationally in terms of private sector job growth since January 2010, growing at a 4.7 percent rate;
  • Ohio currently ranks 46th for private sector job growth since January of 1990, growing at 7.3 percent (top ranked Nevada grew 83.5 percent over the same time span).
  • Within individual industry sectors, Leisure and Hospitality finally joined Professional and Business Services and Education and Health Services as the only sectors to have more people employed in them today than in either 1990 or 2000.

    The report shows that Forced Union states (which includes Ohio and most of its neighbors with the recent exception of Indiana, which became a worker freedom state in February) had a private sector growth rate far below Worker Freedom states. Since 1990, Worker Freedom states’ private sector jobs grew at a 36 percent rate vs. only 13 percent for Forced Union states (12.3 million vs. 7.8 million).

    Even during the decade from 2000-2010, which included the tech bubble burst of 2000 and the “Great Recession” of 2008-2009, Worker Freedom states gained jobs for a minimal growth of around 0.1 percent while Forced Union states lost 5 percent. Since 2010, Worker Freedom states also outperformed Forced Union states, growing at a 4.6 percent rate vs. 3.8 percent.

    To view the full report, please click here.

    Ohio by the Numbers compares Ohio to other states in overall private sector job growth over several distinct time spans. The periods analyzed are: from 1990 until the present day, from peak employment in 2000 through the present day and from the beginning of the current decade to the present day.

    The obamanation about the jobs

    by Daniel Downs

    Last week, the media prophets of the left attempted to make the Obamanable economy look better than it actually is. They used the opening paragraph of the Bureau of Labor Statistic’s monthly jobs situation report out of context. Like all proof-texting, they lifted the “good news” out-of-context in order to proclaim Obama’s stimulating policies were at last working.

    Here is the opening statement of the BLS jobs report:

    “The unemployment rate decreased to 7.8 percent in September, and total nonfarm payroll employment rose by 114,000.”

    The unemployment rate in August was 8.1 percent resulting in a 0.3% decrease, and number of unemployed persons decreased 456,000 to 12.1 million. The number job losers and persons unemployed more than 5 months also decreased.

    All good news for the economy, right?

    Well, let’s look at the above total nonfarm employment increase figure of 114,000. The BLS jobs report showed job creation declined 41% from July to August. New jobs were added at a modest rated of 7% between August and September. The opposite was the case for government jobs. From July to August, the growth of government jobs increased 250 percent, but the rated decreased to 78% from August to September.

    The Obamaites might have reason to celebrate the growth jobs, especially government jobs.

    However, their rejoicing will not last long.

    The problem is with part-time jobs. Part-time employment increased by 7 percent, the same rate as new private sector jobs.

    Although employment is growing some, job growth under the Obamaite administration is still not all that great.

    Quantitative Easing (QE3): An Analysis

    By Alabama Policy Institute

    Quantitative easing (QE) is a monetary policy tool employed by central banks in many countries; the Federal Reserve (the Fed) is the central bank of the United States. QE is designed to stimulate the economy by injecting a predetermined amount of cash into the monetary market. Through QE, the Fed electronically creates new money and uses it to purchase financial assets from banks and deposits this new money on the banks’ balance sheets.1 Although many refer to this as “printing money,” new, physical money is rarely created as a result of the Fed’s actions. Because this new virtual money is created by the Federal Reserve, the only approved source of currency in the country, it is accepted as legal tender. However, the responsibility of printing physical money is still in the hands of the Treasury Department.2

    By significantly increasing the volume of available dollars, the Fed anticipates that banks will increase the number of loans they make and consequently move more money into the market, prompting economic growth.

    The Fed has already implemented QE twice since the beginning of the financial collapse in 2007. QE1 lasted from November 2008 to the first quarter of 2010. During this period, the Fed initiated purchases of $1.25 trillion of mortgage-backed securities, and $175 billion of government agency debt.3 In November of 2010, the Fed announced QE2, during which the Fed began the purchase of $600 billion of longer-term Treasury securities in addition to continuing to reinvest payments on securities purchased during QE1.4

    The Fed announced on September 13th that it was dissatisfied with the economy’s rate of recovery, specifically the slow rate at which unemployment levels are returning to a more normal range5, and would attempt to remedy the stagnated growth by beginning QE3. In this round of quantitative easing, the Fed will purchase $40 billion a month in Mortgage Backed Securities, as well as continue the program dubbed “Operation Twist,” with the purchase of longer-termed securities.6 QE3 is open-ended. In a press release, the Fed stated that it would continue to purchase securities at this rate until it saw the desired results.7

    Policy Considerations

    Under the right circumstances, increasing the supply of money can spur economic growth, but it can also introduce the risk of devaluation of the currency8. QE can mean higher commodity prices and higher inflation. Esther George, president of the Kansas City Federal Reserve Bank, has raised concerns that QE3 has “the potential for igniting inflation.”9 Inflation essentially makes each dollar worth less, and in an economy where wage rates are stagnant, the consequences could be dire10.

    Another concern is that the intended goal of QE to increase the amount of money available to lenders and, ultimately, the marketplace has not been entirely successful. The reason may lie, at least partially, in another program implemented by the Fed. In October 2008, in an effort to deter the fears of depositors, the Fed began paying interest to banks for the funds they keep in reserves.11 While all banks within the Federal Reserve System are required to maintain a certain level of reserves available for depositors who may want to withdraw their cash, they are deterred from keeping excess reserves by other market forces. Absent the Fed paying them interest on all reserves, including excess reserves, banks would be more inclined to loan money in order to increase income from interest payments. The rate of interest paid on bank reserves is currently 0.25 percent.12 That may not sound like much, but the daily federal funds rate has been held between 0 and 0.25 percent for the last several years13. When accounting for inflation, real interest rates are hovering near zero14, so a risk-free 0.25 percent return is actually a bargain for banks. As of August 2012, banks that deposit with the Fed are holding nearly $1.5 trillion in excess reserves, up from close to zero historically.15

    In short, the Fed is incentivizing banks to keep the excess money they receive from QE programs in their reserves in order to collect the interest paid by the Fed. While mortgage rates did decline after QEs 1 and 2, even former Federal Reserve Chairman Alan Greenspan calculated that, as of July 2012, there was “very little impact on the economy”, adding that he was “very surprised at the data.”16 Former Chairman Greenspan also commented that the effect of the untold trillions of government and Fed spending actually may have had a negative impact on the health of the economy. He posits that the rash of deficit spending and manipulation of the interest rate is crowding out private investments.17


    If the former Chairman of the Federal Reserve has doubts that quantitative easing efforts have brought about the promised economic stimulus, why is the Fed proceeding with the same old bag of economic tricks? As API has discussed before, there are multiple places where the Fed’s missions and actions are in direct conflict with one another; attempting to push “created” money into the marketplace while simultaneously incentivizing banks not to lend money is yet another conflict that must be seriously reevaluated.

    1 Quantitative Easing, FINANCIAL TIMES LEXICON, http://lexicon.ft.com/Term?term=quantitative-easing
    2 Kimberly Amadeo, Federal Reserve is Printing Money, http://useconomy.about.com/od/glossary/g/Federal-Reserve-Printing-Money.htm.
    3 Polyana da Costa, QE1: financial crisis timeline, http://www.bankrate.com/finance/federal-reserve/qe1-financial-crisistimeline.aspx.
    4 Polyana da Costa, QE2: financial crisis timeline, http://www.bankrate.com/finance/federal-reserve/qe2-financial-crisistimeline.aspx.
    5 Press Release, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, (September 13, 2012) http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm.
    6 Id.
    7 Id.
    8 Jeffry Rubin, Quantitative Easing is Just Devaluation, http://www.huffingtonpost.com/jeffrey-rubin/quantitative-easing-isju_b_777970.html.
    9 Don Mecoy, Federal Reserve Official Disagrees with Monetary Policy Decisions, (September 19, 2012), http://newsok.com/federal-reserve-officialdisagrees-with-monetary-policy-decisions/article/3710981.
    10 Wage Growth in the U.S. Will Feel Effects of Great Recession for Years to Come, (April 26, 2012), http://www.conferenceboard.org/press/pressdetail.cfm?pressid=4466.
    11 Press Release, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, (October 6th, 2008) http://www.federalreserve.gov/newsevents/press/monetary/20081006a.htm.
    12 Interest on Balances Maintained to Satisfy Reserve Balance Requirements and Excess Balances, THE FEDERAL RESERVE SYSTEM, http://www.frbservices.org/files/reserves/pdf/calculating_required_reserve_balances_and_excess_balances.pdf
    13 Federal Funds Data Historical Search, FEDERAL RESERVE BANK OF NEW YORK, (July 1, 2010-July 31,2012), http://www.newyorkfed.org/markets/omo/dmm/historical/fedfunds/ff.cfm.
    14 Rodney Sullivan, Negative Real Interest Rates: The Conundrum for Investment and Spending Policies, http://blogs.cfainstitute.org/investor/2012/07/03/negativereal-
    15 Excess Reserves of Depository Institutions, FEDERAL RESERVE BANK OF ST. LOUIS, http://research.stlouisfed.org/fred2/series/EXCRESNS.
    16 Bruno J. Navarro, Alan Greenspan Sees ‘Two Separate Economies’, (July 12,2012), http://finance.yahoo.com/news/alan-greenspan-sees-two-separate-161122638.html.
    17 Id.

    Strong June Follows a Good May to Move Ohio Private Employment Forward

    The June 2012 Ohio by the Numbers report shows continuing positive signs for Ohio’s private economy. Ohio moved up a full four spots to become the 14th fastest growing state since January 2010. It was 18th in May’s report.

    While a full recovery of Ohio’s private sector economy to its peak employment numbers of March, 2000 remains in the distance, that distance shrank by three months. Using the “boom” growth rates from the 1990s (nearly 95,000 per year on average), it will take until March of 2017 for Ohio to return to its previous private sector employment peak of 4.85 million last seen in March of 2000. However, that is an improvement over last month when the recovery date was projected to be June, 2017.

    Overall highlights from the report:

  • Ohio gained 18,700 private sector jobs in June while losing 300 government jobs;
  • Ohio remains now ranks 14th nationally in terms of private sector job growth since January 2010, growing at a 4.3 percent rate (top ranked North Dakota grew 17.3 and Texas grew at 7.2 percent over the same time span);
  • Ohio currently ranks 46th for private sector job growth since January of 1990, growing at 6.9 percent (top ranked Nevada grew 84.2 percent over the same time span). Massachusetts fell below Ohio over this time frame during the month of June.
  • Within individual industry sectors, only Professional and Business Services and Education and Health Services continue to have more people employed in them today than in either 1990 or 2000. However, Leisure and Hospitality is less than 3,000 jobs away from joining those two sectors.

    The report shows that Forced Union states (which includes Ohio and most of its neighbors with the recent exception of Indiana which became a worker freedom state in February) had a private sector growth rate far below Worker Freedom states. Since 1990, Worker Freedom states’ private sector jobs grew at a 36 percent rate vs. only 13 percent for Forced Union states.

    Even during the decade from 2000-2010, which included the tech bubble burst of 2000 and the “Great Recession” of 2008-2009, Worker Freedom states gained jobs for a minimal growth of around 0.1 percent while Forced Union states lost 5 percent. Since 2010, Worker Freedom states also outperformed Forced Union states, growing at a 4.4 percent rate vs. only 3.7 percent.

    Creating Jobs Through Small Businesses

    By Congressman Steve Austria

    If we want to get serious about our nation’s unemployment crisis, we must provide certainty in the marketplace and look at how to help our job creators, and small business owners. One economic booster to get people back to work is through small business growth as these small businesses and farms help create about seven of every ten new jobs in America. To jump start our economy and get Americans back to work, Washington must also do its job by stopping all the wasteful borrowing and out-of-control spending; reducing taxes; removing the Washington red tape and the burdensome regulations; put an energy policy in place that has less reliance on overseas foreign oil; and finally addressing the government health care reform issue by focusing on lowering the cost of healthcare for hard-working families and small businesses.

    A 2010 study by the Small Business Administration found that small businesses were disproportionately affected by federal regulations with an annual regulatory cost per employee that is 36 percent higher than the costs facing large firms. Additionally, whether a small business pays taxes at the corporate or individual level, it can face up to a 35 percent federal tax rate. Recently, I supported legislation that Congress passed, which will enable small businesses with fewer than 500 employees to use extra capital to invest, grow, and create more jobs through a 20 percent tax deduction.

    During a time when job growth has stunted we cannot allow for the federal government to raise taxes on our job creators and impose unnecessary regulations – all which stifles job growth. It is our small businesses that are the backbone of our economy.

    Regional and State Employment Report

    Regional and state unemployment rates were little changed in March. Thirty states recorded unemployment rate decreases, 8 states posted rate increases, and 12 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. Forty-nine states and the District of Columbia registered unemployment rate decreases from a year earlier, while New York experienced an increase. The national jobless rate was little changed from February at 8.2 percent but was 0.7 percentage point lower than in March 2011.

    In March 2012, non-farm payroll employment increased in 29 states and the District of Columbia, decreased in 20 states, and was unchanged in Alabama. The largest over-the-month increase in employment occurred in New York (+19,100), followed by California (+18,200) and Arizona (+13,500). The largest over-the-month decrease in employment occurred in Ohio (-9,500), followed by New Jersey (-8,600) and Wisconsin (-4,500).

    The West continued to record the highest regional unemployment rate in March, 9.6 percent, while the Midwest again reported the lowest rate, 7.4 percent. Over the month, only the South experienced a statistically significant unemployment rate change (-0.2 percentage point).

    Nevada continued to record the highest unemployment rate among the states, 12.0 percent in March. Rhode Island and California posted the next highest rates, 11.1 and 11.0 percent, respectively. North Dakota again registered the lowest jobless rate, 3.0 percent, followed by Nebraska, 4.0 percent. In total, 23 states reported jobless rates significantly lower than the U.S. figure of 8.2 percent, 7 states and the District of Columbia had measurably higher rates, and 20 states had rates that were not appreciably different from that of the nation. Ohio was among those 20 states.

    In spite of the loss of 9,500 jobs, Ohio gained 56,000 jobs since March 2011.

    Not exactly earth-shaking figures, but at there is some good news.

    Source: Bureau of Labor Statistics, Regional and State Employment and Unemployment Summary, April 20,2012.

    Free Trade Benefits Ohio

    By U.S. Representative Steve Austria

    Recently, Congress came together in a bipartisan way to pass crucial free trade agreements between the United States and Panama, Colombia and South Korea. These trade agreements will help create good-paying jobs in the United States without another government spending plan. It will also boost economic growth by opening new markets for U.S. goods and services.

    According to this administration, an estimated 250,000 jobs will be created, and every additional $1 billion in exports generates 25,000 new jobs in the United States. These will be long-term, sustainable jobs in the private sector – not temporary government jobs. Compared to the so-called “job-creating” stimulus spending plan that I voted against, this is a significant opportunity for agriculture, manufacturing and many other industries to competitively export their goods – creating private sector jobs in the process.

    These trade agreements do not pick winners and losers, nor do they give any preferential treatment to companies in the United States – it simply levels the playing field with other countries. When given the chance to compete on the same level, American products and companies can succeed and remain leaders in the global marketplace.

    Unfortunately, we are losing too many jobs and businesses to other countries. The burdensome, unnecessary government regulations that are being implemented by bureaucracies such as the EPA, combined with high tariffs on our exports, and one of the highest tax rates of any industrialized nation in the world, are driving companies out of the United States and overseas.

    The free trade agreements will help shoulder that burden, by competitively pricing American exports. Furthermore, it will allow us to produce more goods in the United States without the barriers that drive up the cost of exports and make our country less competitive in the global marketplace.

    In my district alone the benefits of international trade are enormous. There are approximately 89 businesses exporting more than $3 billion of products which support more than 9,700 jobs in our area.

    I have always believed that when private businesses are given the opportunity to grow and succeed, they will. Take Bluegrass Farms of Ohio, a food grade soy business from my district. This small business currently employs 17 people in Jeffersonville and contracts with more than 40 local farmers to grow their products. Over 90 percent of the soy they produce is shipped to Asia, and a free trade agreement with South Korea could easily double their exports. The more we relieve the restrictions on allowing products to be exported throughout the world, the more small businesses like Bluegrass Farms can grow and hire locally right here in the district.

    Similarly, these trade agreements will help American manufacturers like Ohio-based Procter & Gamble. Over 40 percent of their jobs in Ohio support their business outside of the United States in fields such as R&D, design, logistics, and marketing. They also export products like the Gillette Fusion from the United States to 92 countries. The Fusion is manufactured in two places; Boston, Massachusetts and Berlin, Germany. Both Korea and Colombia have tariffs on razors of 10 percent and 15 percent, respectively. The European Union’s FTA with Korea took effect in July, and its agreement with Colombia will follow shortly. According to Proctor and Gamble’s own analysis, had we not passed these trade agreements, the razors that are made in Germany would have been 10-15 percent cheaper to import just because their politicians were able to pass their agreement, and ours weren’t. Workers in the United States are the most productive in the world, but even the most productive who pay a 15 percent penalty, just for being from the United States, will have a hard competing in the international marketplace.

    Many people have been asking for a solution to the economic downturn, and letting the markets work their will is one of the best ways to achieve it. The passage of these free trade agreements brings a host of opportunities for businesses in Ohio and around the country – and most importantly, the opportunity for more American jobs, here in America.

    Speaking of Motherhood Provides a Counter-Cultural Look at the “Best Job in the World”

    Jenn Giroux is a busy woman. Not only is she a proud mother of nine, she’s also brought together a dynamic and hardworking group of six women who have dedicated themselves to introducing a counter-cultural view of what they say is “the greatest profession on Earth”. And they know – between them, they have 44 children.

    The group, who has been traveling to high schools, college campuses, and conferences across the nation to introduce their presentation, “Speaking of Motherhood”, is led by Giroux, who founded and served as the Executive Director of Human Life International America as well as Association of Large Families of America (ALFA). You can also add Registered Nurse and author to her list of impressive titles, but motherhood is her crowning achievement.

    In an interview with LifeSiteNews.com last year, Giroux said that, “There is a huge need out there for us to show the positive side of motherhood and to once again elevate motherhood to the respect that it deserves. It is the greatest profession on earth for women and it has really been completely denigrated by the feminist movement.”

    Since “Speaking of Motherhood” had its inaugural presentation at Notre Dame last February, the group has done sessions across the U.S. and continue to market themselves. The presentation seeks to show the beautiful and the positive aspects of motherhood lost in society, said Giroux. “We really need to show them the beauty of children, which is the actual positive message of showing them the beautiful fruits of accepting God’s gift of children.”

    Originally received by email Student For Life of America, July 12, 2011. (www.studentforlife.org)

    Our Nation’s Birthday, Moment to Celebrate Democracy

    By Congressman Sherrod Brown

    Independence Day is an opportunity to commemorate the founding of our nation, as well as the promise that life, liberty, and the pursuit of happiness are rights – not privileges.

    Every American should have access to the tools needed to build a meaningful life.

    Elementary students in Elyria deserve to learn from the latest text books. Grandparents in Grandview should never be forced to choose between buying medicine or a meal. And firefighters in Fairfield have earned the right to fight a fire with reliable, modern protective gear.

    In a democracy, national priorities should reflect the needs of all citizens – not just the privileged.

    Two hundred and thirty-five years after British subjects declared themselves United States citizens, Americans must continue the journey toward becoming a more perfect Union.

    We’ve made tremendous strides in guaranteeing fundamental rights to education, health, and safety. Ohio established free, public education in 1825. Today – with the support of some $400 million in “Race to the Top Funds” – Ohio schools are working to build on proven models of success and to empower students with the science, technology, engineering, and mathematics skills needed to embark on 21st century careers.

    In the late 19th and early 20th centuries, public health resources in Ohio were consumed by the fight against tuberculosis and the cholera epidemic. With the passage of the Affordable Care Act, children can now remain on their parents’ health insurance until they reach 26 years of age. Seniors can receive annual wellness visits that will not only keep them healthier, but will also reduce costs by helping avoid illnesses. And we’re investing in preventive care and reforming our delivery system so that medical practitioners are rewarded for the outcome of their patients, not how many tests are ordered.

    Public safety has also improved. In 1853, Cincinnati established the first fully-paid, professional fire department in the United States. It would take another decade for the first self-contained breathing apparatus to be invented. Today, professional firefighters can breathe safely while communicating with one another in a black, smoke-filled building.

    Progress in our educational institutions, public health, and safety could not have happened without industrious Americans pushing for improvements. Time is not enough to usher in lasting change. It also takes human effort.

    And, it is only with continued advocacy that we will be able to move closer to achieving a more perfect Union.

    Life, liberty, and the pursuit of happiness are easier to secure when everyone who wants to work has a job.

    That is why America must reinvest in our most important industries. In Ohio, where agriculture remains our largest sector, we must continue to support small farmers and planters who deserve to carry on their family legacy of providing the food that feeds and fuels America.

    Manufacturing is another critical industry for America – and our state. Ohio is home to more than 21,000 manufacturing companies. Three of the top twenty manufacturing cities in the U.S. are located in the Buckeye State. By establishing a National Manufacturing Policy – employed by so many industrialized countries – we can ensure that this vital industry remains strong in the 21st century and continues to lead our economic recovery.

    We can ensure that Ohioans are equipped with the skills needed to fill good-paying, high-tech jobs. Legislation – like the Strengthening Employment Clusters to Organize Regional Success (SECTORS) Act, which I recently introduced ­– can create partnerships among community colleges, labor, workforce boards, and emerging industries to rejuvenate American manufacturing.

    Yes, there are challenges to be met. But, as Americans, we also have a wealth of opportunities to do great things.

    Since our founding, Ohio has been a state of vanguard achievements. Innovative Ohioans built the first successful airplane, invented the modern traffic signal, completed the first orbit of Earth by an American, and eight Ohioans have led as President of the United States.

    Today’s schoolchildren, senior citizens, public servants, and all Americans have a role to play in creating the country our founders envisioned.

    With common-sense legislation and concrete leadership, we can continue to honor our founders and achieve an even better future.

    Creating Jobs

    By Congressman Steve Austria

    Currently, the national unemployment stands at more than 9 percent, we have experienced 28 months of unemployment above 8 percent, and Ohio’s unemployment is more than 8 percent. In our own communities we have seen these statistics play out on a daily basis. Most of us know of a family member or friend struggling to find work or may know of a local business that has just shut its doors. Many people have lost their homes and a lot of students coming out of college and graduate programs are unable to find the level of gainful employment they are seeking. To put a difficult issue simply, we are facing tough economic times.

    June marks the one-year anniversary of this President declaring a “Summer of Recovery.” In my opinion, last summer seemed like anything but a recovery, and this summer is not looking much different. The truth of the matter is that the last Congress failed to deliver on the promises they made to put Americans back to work. We are now faced with a crippling national debt that threatens the ability to help our country stay competitive in the global marketplace.

    To jump start our economy and get Americans back to work, we must go in a different direction than where the previous Congress led us. It is time to get America back to what it does best – which is creating, innovating and leading the world. I am committed to taking every possible step to help get our country back on track and Americans back to work, but I will not do it by putting the tab on our children and grandchildren.

    Since January, my Republican colleagues and I have worked furiously to cut spending. These funding debates have not been easy, and tough decisions have been made and are still being made. Our philosophy is based on the tried-and-true economic principle that we must stop borrowing and cut spending which will provide more certainty in the private sector and thus grow the economy.

    In order to regain the confidence small business owners and entrepreneurs need to hire new workers and expand, we must remove the Washington red tape and the unnecessary, burdensome regulations. We must streamline the tax code and lower the tax rate for businesses and individuals to spur investment back into the economy and encourage growth. Furthermore, it is important that we promote lower energy costs through increased production, have less reliance on foreign oil, and encourage all forms of domestic energy production.

    To learn more about our plan to put the economy back on track, please visit www.jobs.gop.gov.