$787 Billion Debacle Failed To Create Jobs, Drove Nat’l Debt Past $14.3 Trillion
When liberal U.S. Senator Claire McCaskill (D-MO) and her tax-and-spend friends in Washington rammed through the $787 billion stimulus, they promised it would “save or create 3.5 million jobs before 2011” and she said it was “about two things, cutting taxes… [and] creating jobs.”
But the fact is, 28 months since McCaskill 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 Claire McCaskill and her 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. “Missourians will hold McCaskill accountable for her 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)
McCaskill: “The Stimulus Bill Was About Two Things, Cutting Taxes, One Of The Largest Tax Cuts In America’s History — 40 Percent Of The Spending In That Bill Is Going Back Into The Pockets Of The American People — And 60 Percent About Creating Jobs.” (CNN’s “Newsroom,” 3/3/09)
McCaskill Said “We’ve Said All Along In The Stimulus . . . We’re Trying To Keep Job Losses From Being As Great.” McCaskill: “. . . What you’re seeing is jobs — job loss is always a lagging indicator. It’s not a leading indicator in a recession. And we’ve said all along in the stimulus, besides the tax cuts, which people forget to mention, a huge chunk of tax cuts, money going right back into the pockets of the American people, we’re trying to keep job losses from being as great. Even when we were debating the stimulus, we kept saying over and over again there was going to continue to be significant job loss. It’s a matter of whether or not we can keep from that job loss being as severe as it could be had we not done the stimulus.” (ABC’s “This Week,” 3/8/09)
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)
