Monday, July 6, 2009

Generational Theft Act Not Stimulating the Economy

The second ranking Democrat in the House said yesterday that the Generational Theft Act (a.k.a. the $787 billion Stimulus Package) is not having its desired effect.

House Majority Leader Steny Hoyer, D-MD, did everything he could to blame our current economy on the Bush administration, pointing out the 2 million jobs lost in the last year of Bush's presidency, while ignoring the 3 million jobs NOT saved or created (in other words, lost) since the passage of the Generation Theft Act.

Obama said last week that the stimulus bill was designed to make sure that local districts didn't lay off teachers, firefighters, police officers and others, and that the stimulus package has succeeded in that. However, prior to it's passage, Obama was pushing the "shovel ready" infrastructure construction jobs that he made the cornerstone of the package. Those jobs and projects have failed to materialize.

House Minority Leader John Boehner said the president pledged to stop unemployment before it rose above 8 percent. Last week, the Bureau of Labor Statistics placed the unemployment rate at 9.5 percent. "...Where are the jobs? You can't spend $800 billion of taxpayer money and not create jobs when you say that's what the goal was. We haven't seen the jobs yet," said Boehner, R-Ohio, who appeared with Hoyer.

Boehner went on to add that his home state hasn't seen one contract yet as a result of infrastructure spending. He also pointed out that Republicans had proposed a plan that would have cost half the money and created 4 million jobs, not 2 million that the administration hopes will result. "This was supposed to be about jobs, jobs and jobs. And the fact is it turned into nothing more than spending, spending and more spending on a lot of big government bureaucracy."

Democratic leaders and pundits, including those in the MainStream Media have tried harder lately to portray the GOP as having no alternative plans as they try to explain away the fact that the recession has deepened and gotten worse since the passage of the Generational Theft act, and as they try now to pass the largest spending plan in the history of our nation with the takeover of health care.


LL July 6, 2009 at 11:43 AM  

Teachers, police officers, etc. have been laid off in California and nobody sees any Obamanation money (borrowed from our future) being trickled down. Not that we expected to see it.

It was THE classic example of unrestrained pork barrel spending.

Maybe another couple trillion in borrowed funds would mean jobs? They successfully stole 800 billion, why not return to the scene of the crime and dip into the pot once more?

conservative generation July 6, 2009 at 6:48 PM  

I love Biden's logic when you read between the lines. We misjudged how bad it was. No, we won't repeal the stimulus and stop a plan that wasn't made to fix the economy because we didn't take the economy seriously. To top it off, no second stimulus because we have to pass cap and trade and healthcare first.

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