McCarthy-McCotter BCC Notes
Friday, December 4th, 2009Thursday afternoon, I participated in a blogger conference call with Assistant Minority Whip Rep. Kevin McCarthy and Rep. Thad McCotter. It was immediately understandable why Rep. McCotter is the Chairman of the Republican House Policy Committee.
The topic du jour was jobs, specifically why the Democrats’ stimulus hadn’t produced any and why it isn’t likely to create any anytime soon.
Rep. McCarthy said that Democrats are changing their tune on the stimulus bill, saying now that it’s more of a “stabilization bill.” This explains why they’re now planning a second stimulus bill that’s expected to cost approximately $300,000,000,000.
The first question I asked their opinion on was how much of the current unemployment was due to the irresponsible spending. I said that entrepreneurs know that the irresponsible spending will quickly lead to higher taxes, higher inflation or higher debt, each of which is the enemy of small businesses.
Reps. McCarthy and McCotter said that that’s had a negative effect on job creation and economic growth. Rep. McCotter mentioned that massive deficits were drying up credit markets, which were impeding additional economic expansion, too.
I followed that question up by telling them that I’ve posted numerous times on this blog that we aren’t seeing job creation because nothing in the stimulus bill is designed to increase entrepreneurial activity. Rep. McCarthy said that that’s the chief argument that Republicans used when debating the stimulus back in January and February. (more…)