GOP: Weak Jobs Report Means No Tax Hikes

Friday, 08 Jul 2011 05:55 PM

 

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON (AP) — Top congressional Republicans said Friday that a report that few new jobs were created in the U.S. last month shows this is not the time for the government to be raising taxes. But the Republican House leader said the gloomy numbers also underscored the need for a deal on raising the federal debt limit and cutting massive budget deficits.

With the Obama administration and Congress looking for a compromise to end their standoff over government debt, House Republican leaders used the latest jobs reports to drive home their position on taxes.

"The situation that we face is pretty urgent, as a matter of fact I would describe it as dire," House Speaker John Boehner said at a news conference, emphasizing that "a debt limit increase that raises taxes or fails to make serious spending cuts won't pass the House."

He was backed up by Republican Majority Leader Eric Cantor, who said that deficit reduction talks held by Vice President Joe Biden that Cantor abandoned had ended because Democrats were insisting on raising taxes.

"Now it just does not make sense for Americans to suffer under higher taxes in an economy like this," said Cantor.

Obama has insisted that some revenue increases be included in a deficit-reduction plan.

Boehner also stressed the need to reach a deal before the government starts defaulting on its debt on Aug. 2. A default could jolt financial markets and touch off a recession in the U.S, analysts say.

"I frankly think it puts us in an awful lot of jeopardy and puts our economy in jeopardy, risking even more jobs. So I believe it is important that we come to an agreement," he said.

The Labor Department said Friday that the economy added only 18,000 jobs last month. The unemployment rate ticked up slightly to 9.2 percent.

Boehner said congressional leaders and President Barack Obama were not near a debt limit agreement.

"I don't think this problem has narrowed at all in the last several days," he said.

After Obama met with congressional leaders Thursday at the White House, Obama said the session had been constructive. The talks are to resume at the White House on Sunday.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved