Flores Marks Anniversary of President Obama's Stimulus Failure02/17/11
Two Years Later, Democrats Continue Robbing our Children's Future with Partisan Spending Spree
WASHINGTON, D.C. – U.S. Congressman Bill Flores (R-TX) released the following statement today on the two-year anniversary of the signing of President Obama’s stimulus package:
“Today marks the two year anniversary since President Obama signed his crippling ‘stimulus’ package into law, but according to progress reports, American taxpayers still have nothing to celebrate.
“President Obama passed the American Recovery and Reinvestment Act amid promises to keep our national unemployment rate under eight percent and save or create 3.5 million jobs, but two years later, the aftermath is devastating. Unemployment has lingered at 9 percent or higher for a record 21 months and 2.5 million jobs have been lost since the Democrats’ budget-busting disaster was enacted. With a final price tag of more than $1 trillion, it is clear that the costly stimulus failed to live up to the expectations the Obama Administration promised American families.
“In his recent State of the Union address, the President called for more reckless spending in the form of targeted ‘investments.’ Now, the President has proposed a new budget that will once again double the national debt in five years, triple it in ten and add $13 trillion to the nation’s debt. As the country sinks deeper into the red and the Democrats drive our economy further into the ground, it has never been more apparent that we must immediately address this spending-driven debt crisis that is spending away our children’s future and robbing them of the opportunity to achieve the American Dream.
“That is why, as President Obama and the Democrats work feverishly to defend their big-government, big-spending agenda that has stood in the way of economic recovery for the past two years, House Republicans are acting decisively to cut job-destroying government spending by more than $100 billion. If the President won’t lead in tackling our country’s spending-driven debt crisis, then Republicans will.”