WASHINGTON, D.C.óToday Congressman Ted Poe (TX-02) issued the following statement on the May unemployment report released by the Bureau of Labor Statistics (BLS).
ìTodayís alarming unemployment report confirms that this Administration has totally lost control of the economy,î said Poe.
Americans have suffered through 40 consecutive months of unemployment higher than 8%. Only 69,000 jobs were added in the month of May. While this number is troubling it doesnít accurately reflect the severity of the problem. According to the BLS, the real unemployment rate or the underemployment rate (including both the unemployed and those who have quit looking for work) is up to 14.8 percent.
The biggest threat to our national security is the high unemployment and soaring debt that this Administration has continually made worse. Their answer is to tax more, regulate more, and spend moreótodayís report is proof that those policies have failed. Washington needs to cut spending, get out of the way and allow American ingenuity and free enterprise to revive the economy. Creating even more uncertainty for businesses, growing government and adding to our deficit will only keep us on the path we are on. We need to change direction.î