Des Moines, IA â€“ Today, Republican Party of Iowa Chairman AJ Spiker released the following statement on the third anniversary of President Obama signing the so-called stimulus bill into law:
â€œThree years after President Obama signed his massive stimulus spending bill into law, itâ€™s clear that even by the Presidentâ€™s own standards, the so-called â€˜stimulus billâ€™ has been a failure.â€ said Chairman Spiker.
Just three short years ago, President Obama promised that his $825 billion so-called stimulus bill would save or create 3.5 million jobs and keep unemployment below 8% – but since then, weâ€™ve lost more than one million jobs and unemployment has remained above 8% for a record period. Whatâ€™s even worse is that while Americans are demanding a more responsible, efficient government, President Obamaâ€™s 2012 budget calls for even more spending and even more taxes.â€
â€œIowa voters have had enough of President Obamaâ€™s failed promises and out-of-control spending. Itâ€™s time for new leadership in Washington that can keep spending under control and actually improve our economy, not another four years of economic hardshipâ€ Chairman Spiker continued.
On Friday, February 17, 2009, President Obama signed the stimulus bill into law.Â Three years later, it has clearly failed by the presidentâ€™s own standards.
Obama and his advisors made many promises about the stimulus â€“ all of which have proven false
- They promised millions of shovel ready jobs â€œimmediately,â€ but those jobs are still nowhere to be found.
- Obama himself later admitted that those jobs â€œwere not as shovel-ready as we expected.â€
- They predicted the unemployment rate would never exceed 8 percent and would drop below 6 percent in 2012, but unemployment has been above 8 percent for 36 straight months.
- Obama promised to lift 2 million Americans from poverty, but 6.3 million Americans have fallen into poverty since he took office.
- Obama promised that spending money on â€œgreen energyâ€ would create jobs, but many of those investments, like Solyndra, have failed and did not produce a green technology boom.
- Obama promised to put 1 million electric cars on the road by 2015, but electric car production has failed to meet expectations.
Three years after passing the $825 billion stimulus, the economy is still struggling
- 12.8 million Americans are unemployed, and another 8.2 million cannot find enough work.
- 5.5 million Americans have been unemployed for 27 weeks or longer, and 1.1 million Americans have given up looking for work altogether.
- 1.2 million jobs have been lost since Obama took office.
- There have been 7.7 million foreclosure filings since Obama took office.
The lasting impact of the stimulus is massive debt and wasted taxpayer money
- The stimulus cost $825 billion of borrowed money and will cost even more once interest is paid on that debt.
- Billions of dollars went to companies and projects connected to Democratsâ€™ political allies and donors.
- Half a billion dollars was sent to the now-bankrupt company Solyndra, which laid off 1,100 workers last year.
- Fisker Automotive received half a billion dollars in loan guarantees, and has since laid off employees and moved manufacturing jobs to Finland.
President Obama hasnâ€™t learned his lesson: his new budget calls for more stimulus spending
- Americans are demanding a more responsible, efficient government, but Obamaâ€™s 2012 budget calls for more debt and more taxes.
- He wants billions more in stimulus-style spending, adding even more to the debt.
- Barack Obama has no plan to reduce the $15.35 trillion national debt â€“ only plans for more reckless spending.