Protecting Our Future: Investing in Education and Reducing the Deficit
Protecting Our Future: Investing in Education and Reducing the Deficit
This week, Congress passed and the President signed legislation to keep the government open for the next two weeks. While I did not support all the cuts within it, it is my hope that this short-term measure will give us the time to do the right thing: to work together to keep our government running in a way that continues our economic recovery, reduces the deficit, and does not undermine education and the future for our children. With 192,000 jobs added in February and unemployment just below 9 percent, it remains essential that we continue to encourage growth and prevent drastic cuts to our fragile economy.
We owe it to our children and our grandchildren not to leave them in massive debt. When Democrats passed our spending bill in December, we cut $41 billion from the President’s budget. We are committed to ensuring government lives within its means, and we know we must pass a responsible budget that does not endanger our economic recovery now or our nation’s status as a world leader in the future.
In contrast, Republicans passed a spending bill that would reduce economic growth by up to 2 percentage points and cost 700,000 American jobs, according to Goldman Sachs and economist Mark Zandi. Their reckless budget cuts further undermine our future by stripping support from pressing educational challenges and imposing crippling cuts in science and innovation. As a former member of the George W. Bush Administration said, these cuts “would effectively end America’s legendary status as the leader of the worldwide scientific community.”
In these challenging economic times, Democrats stand ready to meet the House majority halfway in identifying budget cuts that make sense for our nation. But cuts that undermine the education of our children, harm the creation of jobs, and destabilize our economic recovery must be subject to harsh scrutiny. Nothing less is at stake than the economic security of our country and the well-being of our children. As we work together to avoid a government shutdown today, we must also work to build a better future for tomorrow.
Supporting Small Businesses in San Francisco
Last week, my San Francisco office hosted a panel on the best practices for small businesses to access credit. Expert speakers gave insight into sustaining a small business during times of limited resources and discussed ways to take advantage of the opportunities provided by recent federal legislation, such as the Small Business Jobs Act.
Small businesses are the engine of our economy, creating two-thirds of the new jobs over the last 15 years. San Francisco’s economic strength and vitality is due in large part to the many small businesses that operate in our neighborhoods. Our city has always led the way in innovation and entrepreneurial spirit, and we will build on that legacy as we continue our work to create jobs and grow our economy.
Please feel free to forward this information to your family and friends. To learn more about these efforts, to express your views, or to sign up for email updates, please visit my Web site. I am also on Twitter https://twitter.com/NancyPelosi.