Supporters of Peter Bearse for Congress today released a statement from the only Doctor of Economics running to represent New Hampshire’s 1st Congressional District.

 “Nothing shows the failure of Obamanomics more sharply than the rise of unemployment over 10%. Both the President and his chief economic advisor, Larry Summers, had assured Congress that if they passed the President’s “stimulus” bill, unemployment would not rise much over 8%. In retrospect, it seems as if the Administration had planned on higher unemployment this year so that it would decline next year just before the 2010 Congressional elections. If so, then the President’s “Stimulus” policy presents a cynical ploy to reelect a Democratic Congress. The rising unemployment rate also threatens to forestall any continuation of economic recovery. Why? -- because it will further dampen consumer spending. We may be headed for a “double dip” in our economy.

After all, less than half of the stimulus money has been spent to date and, of that, only about one-quarter has been devoted to direct, job-generating construction projects. Most of the rest has gone to state and local governments and school districts to help them balance their budgets. Thus, most of the jobs reported as “created and saved” by the stimulus represent highly inflated numbers. Jobs “created” = 0; government cannot create jobs. Jobs “saved” are estimated on the basis of funny numbers -- self-serving counts by state, local and school officials of jobs that might have been lost if they had not received stimulus funds.”

Bearse continued: “Among the candidates in the First C.D., I am not only the only economics doctor fully able to deal with the economic crisis; I am the only candidate to release an alternative to the stimulus. It is entitled “Small is Beautiful” since it provides an approach that supports entrepreneurship, small business and innovation rather than bailouts for the big boys. The stimulus is weak except in one crucial way: It has strengthened the biggest banks in our system by pouring taxpayers’ dollars into them without requiring them to lend to entrepreneurs and small businesses who would use loans to create jobs.  The Fed’s discount window is also open to big business, closed to small business.

It’s easy to blame the President, just as it’s easy to elect a President who promises “change -- Yes we can” under the naive assumption that a chief executive can listen to and represent “We the People…” The assumption is unconstitutional in a federal republic in which the people are supposed to be represented by a people’s House, not by a President. Instead, we have the best Congress money can buy. It is a Congress that is corrupt, backward, self-serving and resistant to change. It is a body ruled by three major incentives: go-along/ get-along, spend-spend-spend and get reelected. As the body that approves money bills, it is the Congress, not the President, who is to blame for all the bad bills that threaten to bankrupt our country: Bailouts, Stimulus, Cap’n’Trade and Healthcare Reform.

Thus, only a candidate for Congress who is willing and able to focus on changing the way Congress does the people’s business is going to help people make a difference on the issues of their heartfelt concern. Only such a candidate who is a fully experienced Doctor of Economics can also address the economic crisis and help folks through the hard times.”