Budget-Busting Disaster Still Hasn’t Yielded Results
Washington- Today marks the six month anniversary of the signing of the Democrats’ $787 billion economic stimulus, and New Hampshire’s hard-working taxpayers are still wondering when they will see any positive effects on the economy – and still waiting for an explanation from Carol Shea-Porter about her vote to pile a mountain of new debt on their backs with no results to show for it.
“Despite all the spin coming from the White House and Capitol Hill, New Hampshire families know that the last six months of Carol Shea-Porter’s stimulus swindle have amounted to little more than a monumental waste of money,” said NRCC Communications Director Ken Spain. “Carol Shea-Porter and her Democrat friends embraced a ‘Washington knows best’ mentality that put nearly a trillion taxpayer dollars in the hands of bureaucrats and politicians. Six months after she handed over their hard-earned tax dollars to her buddies in Washington, New Hampshire families are still wondering: Where are the jobs?”
According to a new poll, Americans have lost confidence in the big-spending agenda that Shea-Porter and her allies in Washington continue to force through:
“Six months after President Obama launched a $787 billion plan to right the nation's economy, a majority of Americans think the avalanche of new federal aid has cost too much and done too little to end the recession.
“A USA TODAY/Gallup Poll found 57% of adults say the stimulus package is having no impact on the economy or making it worse. Even more —60% — doubt that the stimulus plan will help the economy in the years ahead, and only 18% say it has done anything to help improve their personal situation.” (Brad Heath, “Poll: 57% Don’t See Stimulus Working,” USA Today, 8/17/09)
After declaring that he was “not satisfied” with a pattern of slowed spending in June, President Obama set an ambitious goal to speed the Recovery Act’s pace. The pace of stimulus spending, however, has dropped severely in recent weeks, despite Obama’s demands to speed it up:
“Taxpayer groups say the numbers show spending decisions are random and prove that the $787 billion stimulus program has had no effect on the economy.... Spending as of Aug. 7, the 172nd day since Mr. Obama signed the bill, stood at $200 billion obligated. To meet the goal of $225 billion, the government will have to spend nearly $1 billion each day over the next four weeks -- or nearly double the pace of the past four weeks.” (Stephen Dinan, “Pace of stimulus spending plummets,” The Washington Times, 08/14/2009)
In January, the White House warned the American people that without the passage of the so-called stimulus package, unemployment would reach over 9 percent. Then, President Obama promised Americans that unemployment would slow and peak at less than 8 percent if the stimulus passed. Now, six months after the stimulus was signed into law, America faces a $1.6 trillion deficit and 9.4 percent unemployment. (Source: Department of Labor)
With no real progress to show since January, Carol Shea-Porter and her fellow Democrats owe New Hampshire families an explanation. After mortgaging the country’s future with a trillion dollars in new debt, will she finally take responsibility for a runaway spending spree that has failed to yield results?