On Eve of ‘Stimulus’ Anniversary, Economy Still Struggles Thanks to Partisan Spending Sprees, Misplaced Priorities
Washington- This week marks a full year since Democrats put their failed ‘stimulus’ spending spree into action, and according to the progress reports, it’s an anniversary to forget. Despite promising to keep unemployment under eight percent if the stimulus bill passed, the aftermath is clear: Unemployment is still painfully high while the country faces crippling debt and massive deficits. Thanks to Carol Shea-Porter's misplaced priorities, the economy is still struggling so much that her partisan spending agenda will end up costing taxpayers even more than originally predicted – while doing little to turn the economic tide:
“The cost of President Obama's stimulus plan has jumped another $75 billion, the Congressional Budget Office said Tuesday, and part of the reason is more people are getting unemployment benefits because they've lost jobs the bill was supposed to preserve.
“The CBO now says the stimulus package, passed by Congress last February, will cost $862 billion over 10 years because of the added unemployment-related costs. The program had originally been estimated to cost $787 billion when Mr. Obama signed it in February. (Stephen Dinan, “Tab From Stimulus Program Jumps, CBO Says,” Washington Times, 1/26/010)
Middle-class New Hampshire families remain frustrated as the stimulus fails to yield results.
“The difficulty in creating jobs was underscored recently by the release of a new White House economic report predicting only a slight improvement in the 9.7 percent unemployment rate this year, with an average rate of 10 percent next year.
“At the same time, the White House continues to tout the $787 billion stimulus program for helping to boost growth. The administration originally sold the stimulus as a way to keep unemployment below 8 percent.
“’We do know that we are still facing headwinds,’ said Christina Romer, chair of the White House Council of Economic Advisers.”
“A CBS News/New York Times poll last week found 52 percent think Obama has spent too little time on the economy.” (Julie Mason, “Delivering on jobs promise proves daunting for Obama,” Washington Examiner, 2/14/2010)
“A full year has passed since Carol Shea-Porter and her Democrat colleagues passed their failed stimulus bill and there is still nothing to celebrate,” said NRCC Communications Director Ken Spain. “Despite spending nearly a trillion dollars in a failed effort to ‘stimulate’ the economy, Shea-Porter's stimulus has yet to yield the results once promised to middle-class New Hampshire families. After repeatedly rubber stamping a big-government, big-spending agenda that is standing in the way of economic recovery, New Hampshire families are still left asking: Where are the jobs?”