Rep. Rob Woodall is a freshman Republican from Georgia and serves on the House Budget Committee.
I’ve been in Congress for a little more than six months now, and not a single day has gone by without a call for more jobs, more innovation and faster economic recovery. We wonder why foreign investment continues to stay overseas and our own American companies are flocking to foreign shores as fast as they can. All the while, our corporate tax rate remains the highest in the industrialized world, our federal government continues to punish productivity, and roughly $431 billion will be wasted this year trying to comply with our baffling tax code. We continue to ask the questions, but the answer is simple: The United States is no longer the best place in the world to do business.
The Department of Labor reported recently that for the fourth month in a row, the unemployment rate has risen. That rate stands at 9.2 percent, and in June, employers hired the fewest number of workers in nine months. Rampant federal spending and borrowing has increased our national debt by more than $3 trillion since President Obama took office, and as a result, foreign and domestic investors are financing food stamps, unemployment benefits and debt rather than private-sector innovation and jobs. The Wall Street Journal reported last week that for the first time in decades, America is on net losing, not attracting, growth capital. While these numbers are troubling, they cast a sanitized, clinical perspective on the pain and uncertainty that many American families are feeling as the result of a sad reality: Job creators are simply taking their ball and going home.
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