President Obama’s “New Normal”: Fewer Jobs, More Spending, Higher Prices

John Boehner

House Republicans’ relentless focus on jobs is necessary because President Obama’s failed policies and hostility toward job creators have created a “new normal” of fewer jobs, more spending, and higher prices. Speaker John Boehner highlighted the president’s “new normal” in a video today, explaining that under the Obama administration, “jobs are still hard to come by,” “wages are stagnant,” and “prices are rising” for families and small businesses.

HERE’S A LOOK AT PRESIDENT OBAMA’S “NEW NORMAL”:

FEWER JOBS HIGHER UNEMPLOYMENT: The unemployment rate has been higher than 8 percent for more than three years – far higher than what the Obama administration said it would be with or without the ‘stimulus’ spending binge. The 30 “worst months for employment in the past 25 years” have all happened under President Obama, and women have lost the majority of the jobs in that time. Half of recent college graduates are out of work or underemployed. And laws like ObamaCare, and the looming threat of massive tax hikes, are only making it harder for small businesses to hire new workers.  

MORE SPENDING BIGGER DEFICITS: The Washington Post says there’s been a “sustained higher level” of government spending under President Obama. The American Action Forum agrees, saying “high spending growth” is now “the norm.” As Jim Pethokoukis explains, the president “took advantage of a big surge in spending in 2009 and made it a permanent spending floor rather than a ceiling.” As a result, the Congressional Budget Office (CBO) predicts the deficit will exceed $1 trillion for the fourth year in a row, and more than $5 trillion has already been added to the debt since President Obama took office. According to The Hill, “[r]ating agencies are warning that the federal government risks another downgrade” unless Washington comes up “with a credible plan this year to lower the federal deficit.”

HIGHER PRICES STAGNANT WAGES – While the Obama administration has blocked production and threatened tax hikes, energy prices have skyrocketed. Investor’s Business Daily calls rising energy prices “a hidden tax increase on the middle class and the working poor — indeed, on everyone and everything.” Gas prices are “still higher than they’ve been at the start of most summers,” says CNN, and will likely stay that way for now. Health care costs are also on the rise. Meanwhile, “[h]ousehold income, as measured by the U.S. Census Bureau, fell by 2.6 percent between the time the recent recession ended in June 2009 and June 2011,” according to the Evansville Courier Press, “[a]nd those numbers aren’t improving…. So while costs were increasing, available funds for many people were decreasing.”

But as Speaker Boehner said in a speech earlier this month, “We don’t have to accept a new normal” where “families have to endure flat incomes, weak job prospects, and higher prices in their daily lives.” That’s why the House is working to create a better environment for private-sector job growth and a stronger economy for all Americans. Learn more about our plan at jobs.GOP.gov.

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