Twice as many jobs were created in March than expected, more than 300,000 nationally. That shows the U.S. economy is indeed rebounding with a total of 750,000 jobs added since September, thanks to tax cuts which are spawning economic activity. Yet Congress could do more. From a legislative standpoint, energy and transportation should be the top priorities of U.S. Senators right now. Perhaps no two issues can propel our economy more than having good roads and affordable fuel prices. Without passage of highway and energy bills, our economic recovery is at risk.
For years I've advocated passage of an energy bill that would create America's first national energy policy and lessen our dependance on foreign oil. With gas prices in Mississippi anywhere from $1.70 to almost $2.00 per-gallon following OPEC's decision to cut production, we're seeing once again the dilemma of our dependance on foreign countries for oil. America needn't shop countries like Iran or Saudi Arabia for oil. We don't have to. We already have abundant domestic energy resources including oil, coal, nuclear power, hydro-power and natural gas. We must start developing our own domestic energy resources, and we must start providing incentives to foster budding, alternative energy resources, including solar power, wind power, fuel cells and biomass.
Weaning America off our foreign oil is what a comprehensive, energy policy will help do. It will save existing jobs and create new ones, and it will bolster our national security. If we fail to act, America's economic recovery could be slowed, stalled, or it may even plummet again. If fuel prices remain high for a prolonged period, people will stop traveling and spending money. Business will curtail their activity, and jobs will be lost. Our generally low 5.7 percent unemployment could shoot back up to 6.3 percent, where it was last June, or higher. Our recovery has come too far to stop now. The Senate should reach beyond election-year politics to pass a comprehensive national energy policy that protects American jobs, and insulates America's security from unstable, undependable and downright unfriendly nations.
Speaking of jobs, Mississippi's unemployment rate is down to 5.6 percent, significantly lower than this time last year when 6.4 percent of Mississippians were jobless. Of course, some of these jobs are cyclical, but it should be noted that one of the areas where our state has increased jobs is in good-paying manufacturing jobs. Federal and state transportation funding is synonymous with economic activity. There are few instances where there can be one without the other. When seeking new plant locations, often the first thing manufacturers want to know about is the area's transportation network. So, for states like Mississippi which are trying to focus on higher-skilled, manufacturing jobs like Nissan or Northrop Grumman, transportation bills are very important. Last week I reached out to Mississippi legislators, urging them to make sure the state's transportation needs are fully met. This week I'm urging my fellow Senators and President Bush to support the highway bill, pending in Congress.
Some in Congress and the Administration say the highway bill is too expensive. I disagree. Congress shouldn't spend indiscriminately, then suddenly decide to skimp on transportation, one of our most basic duties. I voted against the Administration's budget proposal because it doesn't boost transportation. Apart from transportation, defense, our justice system and other original federal responsibilities, there are plenty of places in the federal budget to tighten, and we need to focus spending cuts outside the very important national security and economic security areas.
The House and Senate have each passed their versions of a six-year transportation bill - both in the $300 billion range. The bills will soon be melded into one package and sent to the President. The President's advisors have recommended a veto. I hope the President will reconsider. Mississippi's continued economic development and job creation are riding heavily on transportation projects this bill will fund.
Congress should quickly complete an energy bill and a transportation bill. It's the best way to ensure that this refreshing job growth nationally as well as in Mississippi continues. Congress and the President have a duty to help keep this recovery going and to keep jobs coming.
Senator Lott welcomes any questions or comments about this column. Write to: U.S. Senator Trent Lott, 487 Russell Senate Office Building, Washington, D.C. 20510 (Attn: Press Office)
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