Author Topic: White House touts stimulus on anniversary  (Read 293 times)

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Offline mystery-ak

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White House touts stimulus on anniversary
« on: February 17, 2014, 04:51:17 PM »

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Offline mystery-ak

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Re: White House touts stimulus on anniversary
« Reply #1 on: February 17, 2014, 04:52:09 PM »
http://thehill.com/blogs/floor-action/economics-trade/198538-boehner-stimulus-was-big-spending-with-little-results

February 17, 2014, 09:11 am
Five years later, Boehner blasts stimulus

By Pete Kasperowicz

Speaker John Boehner (R-Ohio) said Monday that the $800 billion stimulus package that was signed into law five years ago today was nothing more than more government spending that hasn't helped the economy.

"The 'stimulus' has turned out to be a classic case of big promises and big spending with little results," he said. "Five years and hundreds of billions of dollars later, millions of families are still asking 'where are the jobs?' "

The American Recovery and Reinvestment Act (ARRA) was approved by President Obama after it was passed in the Democratic House with no GOP votes, and approved in the Senate with just three GOP votes.

President Obama and other Democrats said the giant spending bill would immediately help turn the economy around, which had lost millions of jobs due to the housing and financial crisis. But while the unemployment rate has only recently dipped below 7 percent, Republicans have pointed out that this slow reduction has only come about because millions of people have left the workforce.

Boehner warned that the economy under Obama and the Democratic stimulus plan has created a "new normal of slow growth."

"Rather than push for solutions to get us back on track, the president seems content serving up slogans and photo-ops," he said. Boehner also reiterated that the GOP has several ideas that would help create jobs.

"We should set our sights higher, and aim to restore America as a nation of builders," he said. "Whether it's improving job training, building the Keystone pipeline, or expanding markets for American exports, there are a number of areas ripe for bipartisan action."

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Offline Luis Gonzalez

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Re: White House touts stimulus on anniversary
« Reply #2 on: February 17, 2014, 05:00:19 PM »
Quote
"... helped to avert a second Great Depression."

The best that Obama can do is claim that things would have been worse off if it weren't for his stimulus.

No one knows that.

In fact, the stimulus may be the cause why the economy is still stagnant, and lacking the insecurity created in the market by the notion that whatever was happening was subject to change at the whim of the Federal government, may have placed an undue burden on the economy's ability to recover organically.

So it is also possible, and more probable since these are known facts, that the continuing economic stagnation may be the direct result of the market reacting to governmental interference, and that the stimulus is the driving factor behind the continuing recession.

 
« Last Edit: February 17, 2014, 05:01:26 PM by Luis Gonzalez »


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