Rachel Burgin: Focused on our Economy

I think most everyone would agree that the so-called economic recovery in the US has definitely slowed to a crawl.

Our economy has been slowly growing for about a year now, but has produced few, if any new jobs to show for it. And now that the government is reporting a weak growth rate of less than three percent in the second quarter and federal stimulus funds are drying up, our job outlook appears even more bleak.

Economic growth has fallen drastically during the latest quarter, according to a report released by the Commerce Department. Not surprisingly, consumer spending was weaker than initially indicated earlier in the recovery.

Many economists predict further slowdowns through the second half of 2010, possibly even as low as 1.5 percent annually. That is largely because businesses have refilled the stockrooms that were emptied during the early days of the financial crisis, and there will not be much need for additional orders for some time to come.

The fiscal stimulus programs that have artificially propped up growth are running out. That’s good news for people who believe in an economy based on sound financial principals rather than redistribution of wealth. State Representative Rachel Burgin said “It is business, not government, that creates jobs.”

Government spending has shot up more than most could have imagined, at an annual rate of 4.4 percent. Adding insult to injury, salary for public sector jobs has risen to nearly twice that of comparable jobs in the private sector while the unemployment rate hovers at just under 10%. A far cry from the promises of Obama that it would never go above 8%.

For the time being, American businesses, and to a lesser degree, American households, seem to be hanging on. But a report released by the University of Michigan and Thomson Reuters showed that consumer confidence tumbled in July.

The approaching midterm elections could have a dramatic impact on both our economic and our employment circumstances. Voters are becoming far more vocal and active then we’ve seen in years, pushing hard for a back to basics approach. They’re tired of seeing their tax dollars and the futures of their children and grandchildren squandered by politicians trying to buy votes.

So what can be done to fix the problems we’re facing? Unfortunately, there is no quick and easy answer, but we can start by electing politicians who understand how important it is to support small businesses, which employ nearly 6o million Americans. “Representative Burgin once again showed why she’s earned the trust of the business community, both in her district and around the state,” said Adam Babington, the Chamber’s Vice President of Governmental Affairs. “She was willing to take the tough votes and support the key issues that are vital to turning our economy around and creating jobs in our state.”

The US job outlook is bleak, to say the least, but by replacing career politicians with those who care about the private sector, we will begin to see a shift in focus that allows small business to thrive and grow.

Tags: Adam Babington, Commerce Department, district 56, government spending, Rachel Burgin, University of Michigan