John Yarmuth: “I thank the gentleman. Just to elaborate a little bit on the issue of what creates jobs and what kills jobs, under H.R.…”

“I thank the gentleman. Just to elaborate a little bit on the issue of what creates jobs and what kills jobs, under H.R. 1, which was the Republican continuing resolution that was passed earlier this year--we are still fighting that battle, and we will be fighting it this week--but these are the principles that were reflected in here that are now are reflected in the Ryan budget. And this is what various economists said would happen if H.R. 1 would go into effect, and this was just for 6 months of the year. Call it ``Slash-onomics.'' Federal Reserve Chairman Ben Bernanke--again this is 6 months, 200,000 jobs lost; Mark Zandi, who was John McCain's economic adviser during his Presidential campaign, 700,000 jobs lost; the Economic Policy Institute, 800,000 jobs lost; and the Center for American Progress, just shy of a million jobs lost. That's over 6 months. Now as we saw on the chart before, contrast that with what's happened just under the Obama administration and the policies that we adopted when we were in the majority. Job growth now, over 200,000 private sector jobs last month created. We are on the right track. And to slash spending the way that the Republicans have proposed, without an accompanying increase in revenue, is going to do further damage to what is now a solid recovery that's under way.…”