How’s That Hope And Change Thing Working?
Being an influential member of the Conservative Regime in Exile, I got this e-letter update from Rep. Mike Pence on the subject of ARRA:
WASHINGTON, DC—U.S. Congressman Mike Pence, Chairman of the House Republican Conference, issued the following statement today regarding the six month anniversary of President Obama’s signing of the economic stimulus package:
“Six months ago today, President Obama signed a stimulus bill with the promise that government spending would put Americans back to work. Congress was told that borrowing another $1 trillion would prevent unemployment from rising over 8% nationwide. With the loss of more than two million jobs since the stimulus was signed and unemployment at 9.4%, the results are in: the stimulus isn’t working. This Administration and this Congress have failed to keep their promise to the American people.
“The American people know we can’t borrow and spend our way back to a growing economy. Thousands of Americans are filling town hall meetings expressing outrage and disappointment at the policies of a Congress and an Administration that promised to mend our economy and get people back to work, and that has only offered more spending, more deficits, more bailouts and more unemployment.
“In the next six months, Democrats in Washington should start working with House Republicans on real solutions to get this economy back on track: fiscal discipline in Washington, D.C and fast-acting tax relief for working families and small businesses. The American people deserve solutions to put our nation back to work, not more empty promises from Washington, D.C.”
While the stimulus bill was working its way through Congress, Republicans criticized the bill because it was just a spending bill. Here’s President Obama’s reaction at the time:
“So then you get the argument, well, this is not a stimulus bill, this is a spending bill. What do you think a stimulus is? (Laughter and applause.) That’s the whole point. No seriously. (Laughter.) That’s the point. (Applause.)”
Had President Obama understood that a stimulus bill isn’t a spending bill built whose priority was paying off one’s political allies, he might’ve focused the bill on high priority infrastructure projects and tax cuts that incentivize investment and job creation.
Instead, President Obama chose to foolishly spend $787,000,000,000 without a plan for reviving the economy. He now owns this economy, lost jobs and all.
Technorati Tags: Stimulus, President Obama, Hopeandchange, Unemployment, Democrats
Cross-posted at LetFreedomRingBlog
August 17th, 2009 at 8:51 pm
Obama, like any other socialist, will never understand that when one steals from productive people to “give” to unproductive people (with a significant portion staying in the system to “allocate funds”) (and gosh, that sound so “Robin Hood-esque”) the general economy is dragged down, held back.
But, of course, we’re talking about Hawvud grads who know everything here, so no wonder they don’t understand basic economics.
Geithner is the only one who MIGHT have a clue. After all, he was one who wouldn’t let the guvmint steal his money until it became propitious for him to do so.