Presidential candidate Ted Cruz issued a stinging indictment of the “Obama economy” on Monday, saying that Obamacare, as well as the endless government rules and regulations, are stifling American growth and are therefore crushing the average American worker.
Cruz commemorated Labor Day by celebrating what was the great American work effort prior to Obama fundamentally transforming the U.S. into a welfare state with a record number of people out of the workforce who are receiving welfare programs.
“Today we celebrate American workers. Since the first days of the frontier, the virtue of work has enlivened our national spirit. It is the ingenuity and grit of countless Americans that has made this a land of opportunity. To the teacher, law enforcement officer, civil servant, factory worker, and countless others, I say thank you. Thank you for working daily to provide for your family, to contribute to our economy, and to keep America strong.”
Cruz said that the cost of Obama’s regulatory machine has created the lowest labor force participation rate since the 1970’s when another far-left president, Democrat Jimmy Carter, had implemented similar failed policies.
“We should foster a robust economy, and stop stifling growth and opportunity. Under the Obama economy, we have seen the lowest labor force participation since the late 1970s. Families, small businesses, minorities, and young people are being crushed by rising premiums and fewer good-paying jobs due to Obamacare, vast costs from new agency regulations, and a byzantine tax code. Manufacturing has steadily declined during Obama’s presidency, and the industriousness that has empowered workers and pioneered innovation is fading under his watch.”
As you can see from the graphic below from the Federal Reserve Bank, the percentage of Americans in the labor force has been crashing in nearly a straight line since the day Obama took office in 2009. The only reason the doctored unemployment rate has declined is because of the millions who have given up looking for work and are no longer considered part of the work force.
Cruz ended positively and upbeat, saying that even though things look bleak, as they did under Jimmy Carter, things turned around rapidly under Ronald Reagan, and the same thing can happen this time with the right kind of leadership and conservatism that can “reignite the promise of America.”
“But with strong Presidential leadership, we can turn things around quickly: we can eliminate onerous regulations, repeal Obamacare, simplify the tax code, and welcome job creation in every sector – from energy to manufacturing to agriculture. We can champion hardworking Americans. If we stand together for working men and women, we will reignite the promise of America.”
At a recent campaign appearance in Seattle, Cruz joked with the audience, asking, “What’s the difference between regulators and locusts?”
“Well, the thing is, you can’t use pesticides on the regulators,” Cruz joked.