The Three Year Legacy of the Democrats’ Stimulus: More Failure, More Washington Spending and Borrowing
| FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), John Barrow (GA-12), Sanford Bishop (GA-02), Tim Bishop (NY-01), Leonard Boswell (IA-03), Bruce Braley (IA-01), Lois Capps (CA-24), Russ Carnahan (MO-03), Kathy Castor (FL-11), Ben Chandler (KY-06), David Cicilline (RI-01), Gerry Connolly (VA-11), Jim Cooper (TN-05), Jim Costa (CA-16), John Garamendi (CA-03), Raul Grijalva (AZ-07), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Tim Holden (PA-17), Rush Holt (NJ-12), Steve Israel (NY-02), Bill Keating (MA-09), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Jim Matheson (UT-02), Carolyn McCarthy (NY-04), Mike McIntyre (NC-07), Jerry McNerney (CA-09), Michael Michaud (ME-02), Bill Owens (NY-23), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Chellie Pingree (ME-01), Nick Rahall (WV-03), Loretta Sanchez (CA-46), Kurt Schrader (OR-05), Adam Smith (WA-09), Betty Sutton (OH-16), John Tierney (MA-06), Paul Tonko (NY-21), Niki Tsongas (MA-03), Pete Visclosky (IN-01), Tim Walz (MN-01), John Yarmuth (KY-03)
The Three Year Legacy of McIntyre’s Democrat Stimulus: More Failure, More Washington Spending and Borrowing
North Carolina Democrat’s Party Leaders Claiming Victory With Their Failed $800 Billion Stimulus Package Which Became Law Exactly Three Years Ago Today Washington — Although today is the third anniversary of Mike McIntyre’s $800 billion stimulus experiment, Americans are still finding new examples of how hemorrhaging taxpayer dollars from Washington has ultimately failed to create jobs for middle-class families and small businesses. But three years and nearly a trillion dollars later, McIntyre and Democrat leaders seem proud of the stagnant economy and enormous debt burden they are leaving to working families and future generations. “Mike McIntyre and his fellow Washington Democrats have clearly still not learned their lesson after three years of fruitless spending, borrowing, and leaving taxpayers with the bill,” said NRCC Communications Director Paul Lindsay. “In celebrating this unfortunate anniversary, McIntyre and his Democrat colleagues demonstrate how out of touch they are with middle-class families in North Carolina still struggling to find opportunities to work.” The non-partisan Congressional Budget Office predicts record high levels of unemployment for years to come, despite the Democrats’ three year stimulus spending spree: “The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. Moreover, the Congressional Budget Office (CBO) projects that the unemployment rate will remain above 8 percent until 2014…
“Compounding the problem of high unemployment, the share of unemployed people looking for work for more than six months—referred to as the long-term unemployed—topped 40 percent in December 2009 for the first time since 1948, when such data began to be collected; it has remained above that level ever since.” (“Understanding and Responding to Persistently High Unemployment,” Congressional Budget Office, February 2012)Democrats are celebrating their failed stimulus experiment on its third birthday, as they continue to promote more spending and all but ignore the skyrocketing national debt: “Three years ago today, in his first major act in office, President Barack Obama signed into law the American Recovery and Reinvestment Act. It stirred a great debate… Today, that argument is settled. The Recovery Act did what we asked of it.” (Vice President Joe Biden, “Recovery Act is working,” Tampa Bay Times, 2/17/12)
Mike McIntyre and his Democrat leaders in Washington may be cheering their $800 billion stimulus package today, but communities across the country are still struggling after three years of spending and borrowing. McIntyre and his Democrat colleagues had a blank check for three years, and it is becoming increasingly clear it has made a bad economy worse.
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