Feb 16, 2012

McCarthy Statement on the Third Anniversary of the Failed Stimulus Bill

Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement marking tomorrow as the third anniversary of the failed stimulus bill championed by President Obama and Congressional Democrats:

“It’s now been three years since the President pushed through his failed $800 billion stimulus bill, which the White House claimed would keep unemployment below 8 percent. Yet, in the three years since, unemployment has consistently remained above 8 percent and the national debt has climbed to $15.3 trillion – a $4.6 trillion increase under President Obama.

“Earlier this week, President Obama presented his latest budget to Congress. It’s another unserious plan that continues this Administration’s reckless fiscal policy of the last three years. The President’s latest budget request, which the White House cites as a blueprint for economic growth and job creation, is centered around more of the same failed stimulus spending that is paid for with massive tax increases on hardworking Americans. Clearly, they still don’t get it.

“The failure of the stimulus only confirms what we’ve always known as Americans – economic growth is the product of a vibrant private sector where entrepreneurs and small businesses are free to create, compete and succeed. This is why the House Republicans’ jobs plan is focused on empowering small businesses and entrepreneurs by easing government burdens that hinder their growth. It is time the President and Congressional Democrats admit the failure of big-government economics, and join with House Republican efforts to get America back to work by rallying around what has made us the most powerful economy in the world – the freedom and opportunity to succeed.”