The House GOP leader says Washington spends too much time and money on creating unemployment benefits, and needs to do more to create an environment that fosters job creation.
"We're facing really, two crises in this country. One is the federal debt crisis. Obviously that is the focus of the S&P downgrade, and one which is the result of decades of misguided policies in Washington. But we're also facing the second crisis, which is a jobs and economic growth crises."
Cantor blames what he calls the misguided policies of the White House.
"Whether it be the tax hike policies of this administration, whether it be the hyper-regulatory stance taken by this President and his agencies, or just the anti-business rhetoric and tone that continues to eliminate from the White House. We've got to focus on both."
Left to right: House Majority Leader Eric Cantor (R-Va.), Woodlands Republican Congressman Kevin Brady at the podium, and Sugar Land Republican Congressman Pete Olson.
Congressman Brady says while House Republicans have been focused on jobs, American investment around the world needs to come back home to create jobs here.
"Our companies, including here in Houston, have profits that are stranded overseas, over a trillion dollars. They can't bring it home here, our tax rate is too high. We propose lowering that tax gate, allowing those stranded profits to flow back into the United States, to invest it here in new jobs, new equipment, new expansions, new research and development."
Earlier this week, Democratic House Minority Leader Nancy Pelosi was in Houston. She told a town hall meeting that Republicans were doing little to create jobs by stalling on the debt reduction.
"We have to work very hard to demonstrate as we have been doing, that we want to reduce the debt limit. That makes it even more reckless on the part of those whose sincerity is not with reducing the deficit."
Once again, House Majority Leader Cantor:
"All we hear from this President is continuous need to raise taxes, and to spend more money from Washington. The President in fact, on the day he signed the debt ceiling increase bill went off again and talked about the need for more spending and higher taxes. Again, as if he doesn't get it."
Cantor says Washington has got to stop spending money it doesn't have, and return to the true job engine of the country, small businesses.