On the recordJuly 15, 2010
In the worst economy in a quarter of a century, American families are hurting. Businesses are struggling in the city and on the farm. And that's obvious to almost everyone in this country, except the Obama administration. Remarkably, yesterday the White House issued a report saying that the stimulus bill passed a year and a half ago had "saved or created 2.5 to 3.6 million jobs." As my three teenagers might say to me in like circumstances: Really, 2.5 to 3.6 million jobs? Unemployment was 7.5 percent when the stimulus was passed. It's 9.5 percent today. It's important the American people know that the report issued by the administration yesterday isn't even based on actual numbers. It comes from what economists within the administration say is a highly inflated projection of how much economic growth is created for every government dollar that's spent. The facts come from the Bureau of Labor Statistics. They speak for themselves. Since the stimulus was enacted, more than 3 million jobs have been lost in this country, a net job loss of 2.4 million jobs. Enough with the talk. The stimulus bill has failed. It's time for new ideas, across-the-board tax relief, and fiscal discipline now.





