Press Release | Obamanomics is "Built for Last"

FOR IMMEDIATE RELEASE

FARMINGTON – Second Congressional District candidate and bestselling author, Chris Stewart, expressed discouragement at President Obama’s anticipated State of the Union remarks. He disagrees with the President’s perceived notion of what it means to concentrate on putting the economy at the forefront of his administration. Chris counters with his measures to successfully promote economic growth.

“Earlier today, President Obama’s campaign manager and now senior advisor, David Plouffe, attempted to explain why the president is only now presenting his plan to revitalize the economy, a plan the Obama campaign machine is calling ‘built to last,’” said Stewart . “For three years, Obama has done next to nothing to implement solutions that will promote real economic growth in the economy. Instead, the federal government has ballooned in size and reach while Congress has failed to pass a balanced budget.” Stewart continued, “This administration has implemented a quasi-budget which has resulted in a record breaking deficit of $1.3 trillion. Even more egregious is that the administration has 184 regulations under various stages of consideration that are expected to cost $100 million each in addition to the current pool of regulations that cost the economy over $1.75 trillion per year, according the Small Business Administration. These regulations will strangle entrepreneurs and small businesses.”

When asked to give his opinion on the new ‘built to last’ campaign, Stewart declared, “If President Obama’s first three years in office is prologue, his policies will not result in an economy that is built to last, rather we will continue to suffer from a devastated economy that is ‘built for last.’”

Stewart continued and spoke about what he believes will help grow the economy. “It is time for the Administration and Congress to get serious about revitalizing the economy and it begins with Congress passing a budget,” said Stewart. “That budget should end the trillion dollar deficits that have weakened growth and are threatening our near term and long term future.” Stewart also clarified that entitlement reforms must be included in any real attempt to address the budget. “Attempts to budget without examining and reforming the entitlement programs of Social Security, Medicare, and Medicaid are not serious proposals. It should also be understood that an omnibus spending bill is not the solution,” said Stewart. “Congress should examine each agency’s budget line by line effectuating an actual review of federal spending.”

“Lastly, if the administration wants to prove it is serious about creating conditions for a pro-growth economy that is ‘built to last’, they and Congress must get together and lower the tax rate and simplify taxes,” said Stewart. He went on to talk about his plan to simplify the tax code, “The top marginal tax rate should be 25% for those making $100,000 or more with tiers at 15% for those who make up to $100,000 and 10% for those who make $50,000 or less. The only deductions would be for charitable giving and home mortgages. Any plan that increases taxes within the existing framework is not being serious – we cannot tax ourselves into prosperity.”