GOP Rep: Recession should have ended

The U.S. recession should have ended by now, a top Republican lawmaker on economic issues argued on Monday.

Rep. Jeb Hensarling (Texas), a top GOP member of the Budget Committee and member of the Financial Services Committee, said the recession would be over if not for policies put in place by Democrats.

"By any historical standard, we ought to be out of this recession," Hensarling said during an appearance on Fox News. "But because of the policies of the president and Speaker Pelosi, it continues to dampen job creation, and Americans continue to stuffer."

The latest recession has lasted longer, at least according to economists' traditional metrics, than previous U.S. recessions. But its scope, root causes and impact on employment have also been much more profound than past recessions, which has spurred President Barack Obama and other leaders to call this recession the worst since the Great Depression.

Obama and congressional leaders have taken some solace in the latest jobs statistics, which were released last Friday, showing the economy shed more jobs in January, but also revealing a decline in the unemployment rate over the past month.

"I hope the president has cause for optimism, but we have to remember the economy shed more jobs last month," Hensarling said.