Sen. Jeff Sessions (R., Ala.) on Thursday argued the U.S. government and Federal Reserve needs to rid itself of "stimulus policies" in order to ensure a strong foundation for America’s economy.
"Like the foundation of a home, America’s economy must be built on something real, something solid, and something firmly planted. Neither federal stimulus in the form of easy money, nor fiscal stimulus in the form of government borrowing, can produce real, lasting prosperity or a sound financial future," Sessions told the Senate Budget Committee.
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"While the stimulus mindset in Washington has at least, so far, been better for the investor class and the political class, it has not been good for the working class. Not only has this stimulus failed American workers, but it has left us with record debt and an economy dependent on unprecedented policies that cannot continue," Sessions continued.
At the conclusion of Sessions’ opening statement he laid out eight "concrete steps" which the U.S. government can implement to improve the economy:
· Produce more American energy
· Eliminate all costly and wasteful regulations
· Make the tax code more globally competitive
· Ensure fair trade so our workers can compete on a level playing field
· Adopt an immigration policy that serves American workers
· Turn the welfare office into a job training center
· Streamline the government to make it more productive, and
· Balance the federal budget to restore economic confidence