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What Can the Government Do to Create Jobs Today?

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  • Description

    Rep. Jeb Hensarling, (R-Texas), on the steps needed to create more jobs.

  • Duration 4:16
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A lot of work -- -- jobless rate climbed to eight point 2% so we're not talk.

Let's see some action what can be done to create a job today.

But that's my next guest Texas Republican congressman -- -- he is also vice chairman of the financial services committee.

A congressman thanks so much for joining us tonight we appreciate it -- limitation.

You don't.

People ask me all the time and especially people who support the president they say if somebody else -- opposite Mitt Romney weren't office.

Look at it really do today that would create -- -- what's your answer what do you think.

Well let me give you four ideas -- -- on as opposed to enacting the single largest tax increase in America's history which the president.

I has promoted.

Republicans wounds did have fundamental tax reform that would make the tax code fairer.

Flatter simpler.

More competitive a two tiered flat tax system clearing out.

All the special interest deductions and credits and loopholes that itself within sent economic growth and jobs.

Elegantly let me stop you right there just how -- created -- today I mean how would that do something immediately tell me the -- and.

The mechanism -- the animal spirits of entrepreneurship and small business people nobody's gonna go out and created job.

When they know that they're facing the single largest tax increase in America's history.

There's a number of reasons that jobs are going overseas but the -- -- and the complexity of the tax code.

Is one of the most important second of all the regulatory burden under President Obama significant regulations and increased 52%.

We have more regulations on the federal books and in any time.

Ever congress -- Republicans in the house -- put forth too simple propositions number one.

If we're gonna have a regulation let's do an economic impact statement let's understand.

Whatever the benefit of the purported regulation is what looked at the cost of jobs.

In second evolved let's -- congress vote on -- not the unelected bureaucracy.

-- so that would give business people confidence to move forward I -- I had a business person.

In my district in east Texas small business person said you know what.

Finally should build my business -- were so many regulations.

I thought the government didn't want -- to succeed.

-- really long who didn't.

You know what I think as people would say that the lack of regulation out there is what caused the financial crisis in the financial crisis certainly cost us a lot of jobs and how do you respond.

Well what caused the financial crisis more than anything else -- government policies that incident -- mandated.

Cajoled suggested financial institutions.

Loaned money to people to buy homes they couldn't afford to -- Pushing you can make a case that there was a lack of regulatory courage may be a lack of regulatory -- you can -- almost no example.

That there was a lack of regulatory authority.

To have prevented the crisis in LA -- unfortunately Fannie and Freddie and all the policies that created it.

Under this president they're all still in place is my -- most important thing we need to do -- we need to put the government.

For a fiscally sustainable path.

I -- I had again a job creator in my district back in Texas and you know.

Sooner or later I know I'm gonna have to pay for all this debt.

So now's not the time I'm gonna go out and invest in new plant new equipment are -- people the Republican budget.

Puts America on unsustainable fiscal path.

Especially when this morning the Congressional Budget Office came out instead they did is again exploded the president has given us the nation's first second.

Third -- now four trillion dollar plus deficit.

We -- drowning in deficits nobody's investing in Greece and saying they won't invest in America what would last for ingredient.

Yeah last ingredient you can't vilify success in the free enterprise -- -- We expect people to go out and create jobs we ought to be celebrating success we want people to work hard play by the rules.

Risk capital into Latin create jobs but the president's gonna engage in the politics of division and indeed.

When his policies fail again capital is gonna say on the sidelines the American people are gonna suffer.

Congressman thank you so much I appreciate they've -- so -- -- ideas with you today thanks for joining us.

Thank you very.

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