Press Release: Unemployment Drop Positive News, Major Obstacles to Growth Remain

WASHINGTON - American Action Forum President Douglas Holtz-Eakin issued the following statement in response to news the unemployment rate for the month of December decreased to 8.5 percent and the nation created 200,000 jobs.

"The December jobs report is good news for the beleaguered American worker.  However, despite the improvements in unemployment, jobs and earnings, I would caution against unbridled optimism.  At this pace, it will be years before every American has the job he or she desires.  Major obstacles to faster sustained growth remain," said Holtz-Eakin.

"This administration has been missing in action regarding the looming debt crisis, stone-walled attempts to reform entitlements, and overreached in its regulatory actions.  The latter will cost job creators billions of dollars and millions of hours in compliance costs.  This ballooning debt, mountain of regulations and absence of fundamental, permanent reforms stand in the way of unleashing the full potential of our economy.  Unfortunately, the President's focus on finger-pointing in the new year does not bode well for positive work on these problems."

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