$787 Billion Debacle Failed To Create Jobs, Drove Nat’l Debt Past $14.3 Trillion
When liberal U.S. Rep. Chris Murphy (D-CT) and his 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.”
But the fact is, 28 months since Murphy 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.
Meanwhile, as she continues to assail him in their divisive Democratic primary, Susan Bysiewicz (D-CT) herself remains fully supportive of the failed stimulus, recently claiming that “the $787 billion economic stimulus… helped avert a second economic depressions [sic],” while admitting that “she is disappointed that it didn’t create more jobs, particularly in the construction industry.”
“When Chris Murphy 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. “Meanwhile, Susan Bysiewicz continues to support the failed stimulus despite her admission that it didn’t create the jobs her party promised.
“Regardless of who emerges from this divisive Democrat primary, voters will hold that candidate accountable for this massive spending debacle that failed to create jobs while driving our national debt past $14.3 trillion,” Bond concluded.
Background Information:
“Save Or Create 3.5 Million Jobs.”
“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)
Murphy Said The Stimulus Would “Create Or Save An Estimated 41,000 jobs” In Connecticut. “After weeks of negotiation, today the House of Representatives passed economic recovery legislation to create or save an estimated 41,000 jobs in Connecticut and to get our economy moving again. Congressman Chris Murphy (CT-5) supported the bill, calling it ‘a bold plan for tough times, with tax cuts for working people and desperately needed funding for Connecticut job creation and to fill the gaps in the state budget.’” (Congressman Murphy Press Release, “Murphy Helps To Pass Economic Recovery Bill To Boost Jobs, Cut Taxes In Connecticut,” 2/13/09)
Murphy Said The Stimulus Bill Was “Bold Action” That “Put[s] Us On The Road To Recovery.” “‘In this unprecedented economic downturn we need bold action and we need it now,’ said Rep. Chris Murphy, D-5. ‘This bill doesn’t fix everything that is wrong with the economy but it can stop the bleeding and put us on the road to recovery.’ Murphy predicted that the bill would add or save 2 million jobs across the nation and help improve consumer confidence.” (Peter Urban, “Houses passes $819b stimulus plan,” Connecticut Post Online, 1/28/09)
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)
