Economy

With our nation in the midst of the worst jobs crisis since the Great Depression, you would think policymakers would be focused on reducing barriers to job creation. Not so. High unemployment has many drivers, but one of the most obvious culprits is over-regulation.

Over the past several weeks, Washington has had multiple opportunities to address the nation’s massive spending problem. Instead, the only thing Congress was able to accomplish was prove again how broken Washington has become. Despite the setbacks, we must redouble our efforts to end the unsustainable spending going on in our nation’s capital.

The holidays are a special time to reflect on the past year, to celebrate, and to give thanks for the freedoms and opportunities we enjoy as Americans.

Last month’s jobs report did not offer much to feel good about the state of the American economy. October marked the 33rd straight month of joblessness above eight percent, a post-World War II record and job growth slowed to a four month low.

One of the most significant challenges holding back the American economy is our overly complex and outdated tax code. Instead of having tax policy to encourage hiring American workers and investing here in the United States, our obsolete tax system incentivizes businesses to leave profits and jobs overseas. This dynamic is stifling job growth here in Nebraska and across the country.