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Stimulus: 3 Years Later

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@stevenfoley

A former U.S.Marine, he is the Creator of The Minority Report Network. He is also the Founder and Managing Editor of the Network’s flagship site, www.theminorityreportblog.com, Former Director of New Media for Liberty.com, Former Director of New Media for Liberty First PAC, and the Former Chief Managing Editor of 73Wire.com. Steve is a well respected national conservative blogger who’s dedicated the past several years of his life advancing conservatism online. Recently Steve was instrumental in the development of Liberty.com, Liberty First PAC, The Patriot Caucus, the national campaign trail and grassroots news site73wire.com.

President Obama’s Stimulus Package Has Not Delivered The Jobs His White House Claimed It Would

 

5 Million Jobs Short Of White House Stimulus Claim

 

WHITE HOUSE REPORT: “Aggregate Effect of the Recovery Package on GDP and Jobs in 2010Q4 … With Stimulus … Payroll Employment: 137,550,000.” (Christina Romer & Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,” P.4, 1/9/09)

 

·In Jan. 2012 payroll employment was 132,409,000. (U.S. Dept. Of Labor, “Employment, Hour, And Earnings From The Current Employment Statistics Survey (National),” Accessed 11/28/11)

 

428,000 jobs have been lost since the stimulus was signed (Feb. 2009 – Jan. 2012). (U.S. Dept. Of Labor, “Employment, Hour, And Earnings From The Current Employment Statistics Survey (National),” Accessed 11/28/11)

 

CBO: Unemployment ‘Will Remain Above 8 Percent Until 2014’

 

The unemployment rate has stood above 8% for 36 months (Feb. 2009 – Jan. 2012).  (“The Unemployment Situation – January 2012,” Bureau Of Labor Statistics, 2/3/12) ; (BLS, Accessed 1/24/12)

 

·“CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking for work for more than six months — referred to as the long-term unemployed — topped 40 percent in December 2009 and has remained above that level ever since.” (CBO Report, 2/16/12)

 

OLD STIMULUS CLAIM: Unemployment Won’t Exceed 8 Percent

 

WHITE HOUSE REPORT: Obama officials claimed that the “unemployment rate with… the recovery plan,” would not exceed 8 percent. (Christina Romer & Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,” P.4, 1/9/09)

 

 

PRESIDENT OBAMA: “It’s a plan that will save or create up to 4 million jobs over the next two years.” (President Obama, Town Hall Meeting, Fort Myers, FL, 2/10/09)

 

VICE PRESIDENT BIDEN: In “18 months” stimulus will “create 3.5 million jobs … literally drop-kicks us out of this recession.” (Vice President Biden, Remarks At Recover Plan Implementation Meeting, The White House, 2/25/09)

 

·BIDEN: “In my wildest dreams, I never thought it would work this well.” (“Biden On Stimulus: ‘Never Thought It Would Work This Well,’” The Wall Street Journal, 9/24/09)

 

SEN. HARRY REID (D-NV): “This bill creates 3.5 million jobs.” (Sen. Reid, Press Conference, 2/11/09)

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