Economic Growth
Floor Speech
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Mr. McCONNELL. Madam President, now on one final matter, lately there has been no shortage of outstanding economic headlines:
``Small business confidence hits another record high.''
``U.S. workers get biggest pay increase in nearly a decade.''
``Open jobs outnumber U.S. unemployed for third straight month.''
But it is also important to look beyond the headlines and ask whether all Americans are benefiting from this new prosperity.
For years, under the last administration, much of the so-called recovery only touched some communities and some industries. Many vulnerable Americans fell further and further behind. Today, things are different. A growing and vibrant economy has room for everyone. The unemployment rate for young Americans age 16 to 24 is now the lowest it has been since July 1966. Labor force participation among this same group is at its highest level in nearly a decade. The unemployment rate for workers with less than a high school diploma is now at its lowest level in recorded history.
As work opportunities have opened back up, the number of Americans seeking Social Security disability benefits has plummeted. As one scholar told the New York Times, ``When the economy gets better, employers are more willing to look to other labor pools and be more accommodating. . . . People with disabilities also have a sense there may be something out there that fits their needs.''
Remember, for much of the Obama economy, opportunity creation was so insufficient that many vulnerable Americans were effectively put right on the sidelines. The job market was too crowded. Openings were too few. But this thriving economy, helped along by Republican policies, is a different story. There are more and more opportunities for everyone.
This reminds us that it is capitalism and free enterprise, not new government programs, that best equip Americans to provide for their families and pursue happiness. Free enterprise is what has led an aviation tech maker in Colorado to lean on a high school-age technician, whose skills are ``highly integral'' to the company. Free enterprise is what has led a semitrailer manufacturer in Wisconsin to hire inmates, as they reenter the community after paying their debt, and help them rebuild upright lives. There is an old line often attributed to Ronald Reagan: ``The best social program is a job.''
While our Democratic friends keep railing against tax reform and regulatory reform, keep insisting we should compile more money and power here in Washington, Republicans know better. We know that a real recovery is when Americans of all ages, all abilities, and in all parts of the country have more opportunities to earn their own success, and we are proud that our policies are helping make that happen.
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