Published: October 06, 2009 01:00 pm      

Government “invisible hand” slowing recovery, says Economic Committee leader

WASHINGTON, D.C. — U.S. Congressman Kevin Brady (Texas - 8th District), the lead House Republican on the Joint Economic Committee, released the following statement after the Bureau of Labor Statistics reported that payroll employment declined by 263,000 during the month of September.

“Job losses continue to mount, and unemployment is at an alarming 9.8 percent,” said Brady. “What concerns me most, however, is the growing number of companies that are delaying key business investments and decisions because of the uncertainty surrounding Washington, specifically punitive proposals to increase American energy and health care costs and raise taxes on capital, income and overseas investment.

“The unpredictability of government is the new “invisible hand” of the market, and it is slowing the recovery — discouraging companies from making decisions that could lead to rehiring old workers and hiring new ones,” Brady added. “The White House and Congress are weighing proposals to increase taxes on energy, health insurance, capital gains, dividends, personal and corporate income, international taxes and a rash of new regulatory costs.”