Washington, D.C. – House Majority Whip Kevin McCarthy (R-CA) released the following statement regarding the second anniversary of the failed stimulus:
“Two years ago today President Obama signed into law a massive $814 billion stimulus bill in Denver, Colorado. During the ceremony the President said to the American people, “We have begun the essential work of keeping the American dream alive in our time.” Two years later our national unemployment rate continues to hover about 9% and the nation’s debt is now more than $14 trillion.
“We have a debt crisis in this country which threatens our future generations, and the American people have declared that we cannot continue down the path of deficit spending and crushing debt. As we debate a Continuing Resolution that cuts $100 billion in federal spending and work to draft a responsible budget this spring, the failure of the stimulus is not lost on us. The spending binge of the last congress is over. In the weeks and months ahead this new majority will work industriously to restore confidence to our small business owners and entrepreneurs and provide them with the tools to begin to grow and hire again. This begins by meaningfully addressing our deficits and debt that threaten our economic recovery, and getting people back to work.”