The primary focus of my job creation strategy is deficit reduction. Annual deficits ranging from $200-$300 billion are draining the nation's savings pool, pushing up interest rates and discouraging vital investment. The vicious cycle of deficit spending, higher interest rates, depressed investment, lower productivity and job losses must be stopped. Future generations cannot achieve a higher standard of living if we continue to spend $880 million a day on interest. I am committed to cutting government spending and making the tough choices necessary to reduce the deficit.
As Lt. Governor, I have seen; and as a small business owner myself I know the debilitating affect of burdensome government regulations. I am committed to fighting against legislating unnecessary regulations and will work to remove existing ones. With seventy percent of all new job creation coming from businesses with less than a 100 employees, the first rule for government must be to not hinder business.
Government can, however, help create jobs by enacting tax policies that reward savings and encourage investment. The free-market, not government, most efficiently allocates resources to their most productive sector. Specifically, I support tax credits for research and development and reducing the capital gains tax.
Health care reform is the fourth component of my job creation strategy. Health care currently accounts for 12% of GDP and is expected to increase to 16% by the year 2000. While reform is necessary, I favor an incremental approach that focuses first on insurance and malpractice reform. Government intervention that achieves universal coverage at the expense of jobs is a bad deal.
In order to compete internationally prudent investments in basic infrastructure must be made and, more importantly, our educational system must rise to meet the demands of the world marketplace. In addition to improving the basic core - reading, writing and math -we must also meet the needs of the 21st Century. I believe our students must learn computing, critical thinking and develop the capacity for change. Continuing education and retraining are also essential if the U.S. worker is to remain globally competitive.
Finally, I am a proponent of free trade. I support NAFTA and GATT, and will support other agreements and organizations committed to lowering barriers to U.S. products and services. The U.S. worker is the most productive in the world and can compete against the workers of any nation - if the playing field is level. I am committed to ensuring American goods have unfettered access to foreign markets.
These six elements hold the key to creating new and better paying jobs. As your Senator, I will work to implement these elements and ensure our children have the chance to achieve the American dream.
Prepared by the Joanell Dyrstad fof U.S. Senator Campaign Committee, 8100 Penn Avenue South, Bloomington, MN Telephone/Fax: (612)884-4552/884-4620