Republicans map out their agenda of less
By Lori Montgomery
Washington Post Staff Writer
Saturday, November 6, 2010
Republicans are mapping an agenda for the new Congress that calls for a radical reduction in government spending, a hard-line stance against new taxes and a "sustained" battle against federal regulators - all aimed at easing the concerns of voters desperate for jobs and anxious about the soaring national debt.
The path charted in the party's "Pledge to America" and in a new blueprint released this week by Rep. Eric Cantor (R-Va.), the No. 2 Republican in the House, is certain to provoke clashes with the White House. It is already stirring dissension among Republicans who say it doesn't go far enough. Less certain is its ability to make progress on the nation's top economic priorities, particularly job creation.
On Friday, the Labor Department reported that the unemployment rate was stuck at 9.6 percent for the third month in a row, although job growth accelerated in October. Employers added a total of 151,000 jobs - more than double analysts' expectations. Gains were concentrated in the private sector, where 159,000 new jobs offset the loss of 8,000 government positions.
It was the strongest job growth since May, and a welcome sign that the recovery may finally be strengthening. Still, many economists see the need for further government spending to bring down unemployment. This week, the Federal Reserve announced plans to pump $600 billion into the economy through massive purchases of Treasury bonds to fuel the recovery.
(More here.)
Washington Post Staff Writer
Saturday, November 6, 2010
Republicans are mapping an agenda for the new Congress that calls for a radical reduction in government spending, a hard-line stance against new taxes and a "sustained" battle against federal regulators - all aimed at easing the concerns of voters desperate for jobs and anxious about the soaring national debt.
The path charted in the party's "Pledge to America" and in a new blueprint released this week by Rep. Eric Cantor (R-Va.), the No. 2 Republican in the House, is certain to provoke clashes with the White House. It is already stirring dissension among Republicans who say it doesn't go far enough. Less certain is its ability to make progress on the nation's top economic priorities, particularly job creation.
On Friday, the Labor Department reported that the unemployment rate was stuck at 9.6 percent for the third month in a row, although job growth accelerated in October. Employers added a total of 151,000 jobs - more than double analysts' expectations. Gains were concentrated in the private sector, where 159,000 new jobs offset the loss of 8,000 government positions.
It was the strongest job growth since May, and a welcome sign that the recovery may finally be strengthening. Still, many economists see the need for further government spending to bring down unemployment. This week, the Federal Reserve announced plans to pump $600 billion into the economy through massive purchases of Treasury bonds to fuel the recovery.
(More here.)
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