Gingrich: Nation's Top Problem Is Lack of Jobs

Former House Speaker Newt Gingrich, who is eyeing a potential run for the White House, says that, although killing Osama bin Laden was a great achievement, the country’s No. 1 problem is lack of jobs. In a column published Wednesday on the conservative website Human Events,  Gingrich praised President Barack Obama and President George W. Bush, as well as those in the military and intelligence services who made it possible to get bin Laden.

Still, the country’s leadership needs to focus on “the number one problem in American,” which is “the lack of economic growth required to create jobs,” he said.

“Americans are in pain from unemployment, the collapse of housing values, and the rising cost of gasoline and other commodities,” he said.

“It is impossible to balance the budget at 8 percent or 9 percent unemployment.  If we add those who are underemployed or who have dropped out of the job market, this more inclusive unemployment rate is nearly 16 percent.

“Job creation is the most important step to balancing the budget, so we can move the millions of people consuming tax revenue off unemployment and welfare into jobs where they are being productive and paying taxes.”