In a statement released following the announcement that the U. S. job rate had increased to 9.2 percent, Congressman Todd Akin, R-Mo., a candidate for U. S. Senate, said the U. S. has a spending problem, not a revenue problem.
“The Labor Department’s dismal June job report is yet another indicator that our economy is faltering under the failed policies of the Obama Administration.
“The failed stimulus did little more than increase our already bloated national debt and businesses are facing great uncertainty over new job killing regulations and proposals to increase taxes.
“It is clear that Washington has a spending problem and that we must reduce federal spending. Any attempt to raise taxes will further damage an already weak economy and further increase unemployment.
“Further, I do not support increasing taxes in response to the looming debt limit. Rather, we must reduce spending and get our fiscal house in order. To do anything else is a refusal to accept the basic economic reality that our nation now faces.”