BRADY: 4th Quarter Economic Growth Encouraging But Not Enough

Significant Growth Requires Smaller Government & Less Federal Spending   Texas Insider Report: Washington D.C.   Im encouraged that Americans gained a little more confidence at the end of last year but as long as we continue to post record deficits significant job creation is unlikely" said Congressman Kevin Brady (R-TX) the Vice Chair-designate of the Joint Economic Committee following todays announcement that the U.S. economy grew at an annual rate of 3.2 in the last quarter of 2010.   To bring the unemployment rate down to pre-recession levels we will need several quarters of real economic growth in excess of 5. To do that we need to remove the biggest drags on our economy -- over spending over regulation and over taxation" Brady said. Vote to Reduce Spending In keeping with our promise to the American people to reduce government spending and tackle the debt and deficit this week I joined my Republican colleagues in voting to reduce non-security federal spending to at least 2008 levels for the remainder of FY 2011.  After two consecutive years of trillion dollar deficits I am encouraged by this important first step in addressing our nations fiscal crisis and getting our financial house in order.  A rollback to pre-bailout pre-stimulus levels will set a new baseline and reduce overall government spending for years to come.  No Public Financing of Presidential Campaigns On Wednesday I voted to terminate taxpayer financing of presidential election campaigns and grants for national party conventions.  The President Election Campaign Fund is financed by voluntary contributions from taxpayers who check a box on their income tax returns to designate a portion of their tax dollars to the PECF.  The nonpartisan Congressional Budget Office estimates that this bill will reduce direct spending by $447 million through 2016 and by $617 million over ten years. State of the Union Says Congressman Brady in response to President Barack Obamas State of the Union Address

For more than two years the President and his party have had the opportunity to create jobs improve the economy and cut the deficit. Unfortunately the President has done just the opposite embarking on a massive expansion of government and the welfare state.  Despite the governments massive spending binge we still have historic unemployment and the greatest debt in U.S. history.  In order to boost private-sector job creation we must cut spending and focus on getting our fiscal house in order. After millions of Americans went to the polls to overwhelmingly reject runaway government spending colossal unemployment and the failed policies of the last two years I am encouraged that the President has finally expressed his willingness to work with Republicans to cut spending and reduce our unacceptable $14 trillion national debt.  Without swift action to cut spending we will chain future generations to debt and rob them of the chance to reach for the American Dream.  Republicans know that a larger and more intrusive government leads to a weaker and less innovative economy. We are working to get Washington out of the way so the private sector can thrive again.  I hope that in the weeks and months to come the President will back up his words with action and fulfill his pledge to work with Republicans to get America back on track."