$787 Billion Debacle Failed To Create Jobs, Drove Nat’l Debt Past $14.3 Trillion
When liberal U.S. Senator Bob Casey (D-PA) and his tax-and-spend friends in Washington rammed through their $787 billion stimulus, they promised it would “save or create 3.5 million jobs before 2011” and he said it would “get our economy out of the ditch by creating jobs.”
But the fact is, 28 months since Casey and the Democrats passed their stimulus, nearly 1.9 million fewer Americans are employed.
As CNS News reports:
Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed. In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.
“When Bob Casey and his fellow Washington Democrats rammed their $787 billion stimulus into law, they promised it would ‘save or create 3.5 million jobs,’ but today there are 1.9 million fewer Americans employed,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond. “Pennsylvanians will hold Casey accountable for his massive spending debacle that failed to create jobs while driving our national debt past $14.3 trillion.”
Background Information:
“The Obama administration is defending its claim that the $787 billion economic stimulus plan will save or create 3.5 million jobs before 2011 even while conceding that unemployment will likely continue to rise beyond its earlier predictions.” (Stimulus plan will create or save 3.5 million jobs, White House says, Associated Press, 05/11/09)
President Obama’s Economic Advisors Christina Romer And Jared Bernstein Predicted Unemployment Would Not Rise Above 8 Percent If The Stimulus Was Passed. (Christina Romer and Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,”1/9/09)
Casey: “The American Recovery And Reinvestment Act (ARRA) Is Helping Get Our Economy Out Of The Ditch By Creating Jobs And Aiding Those Hardest Hit By The Worst Economic Downturn Since The Great Depression.” (Senator Bob Casey Website, www.casey.senate.gov, Accessed 2/1/11)
Casey: “On The National Level, ARRA Is Helping To Stabilize Our Economy While Investing In Long-Term Economic Growth.” (Senator Bob Casey Website, www.casey.senate.gov, Accessed 2/1/11)
Casey: “This Bill Is Good For Pennsylvania.” (Senator Bob Casey Website, www.casey.senate.gov, Accessed 2/1/11)
Casey Told Business Leaders In Pennsylvania That The Stimulus Would Help Get The Economy Out Of The Ditch, Create Jobs, And Help Those Who Suffered The Most From The Recession. “Mr. Casey, a Democrat, told about 165 business leaders who attended a breakfast hosted by the Greater Wilkes-Barre Chamber of Business and Industry at the Woodlands Inn and Resort that the American Recovery and Reinvestment Act will help get the economy out of the ditch, create jobs and aid those hardest hit by the recession. He said the act is good news for Northeast Pennsylvania, the entire state and country.” (Denise Allabaugh, “Stimulus Plan Defended,” The [Scranton ,PA] Times-Tribune, 3/17/09)
But Since The Stimulus Was Passed, America Has Lost Nearly 1.9 Million Jobs
- Our County Has Lost Nearly 1.9 Million Jobs Since The Stimulus Passed In February 2009. (Matt Clover, “1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus,” CNS News, 6/14/11)
- The Unemployment Rate Is 9.1 Percent And Has Remained Above 8 Percent For 28 Straight Months. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 6/3/11)
