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Congressman Huelskamp Acknowledges Second Anniversary of Failed "Stimulus'

Statement

By:
Date:
Location: Washington, DC

Congressman Huelskamp, a freshman Republican from Kansas and member of the House Budget Committee, offered the following statement on the two-year anniversary of the economic stimulus:

"Two years ago today, the President signed into law a Democratic Congress's economic "stimulus,'" Congressman Huelskamp said. "This has proven to be a failed $787 billion experiment with outcomes that have only increased our debt, deficit, and unemployment rate. Despite the promises that the stimulus would keep unemployment at or below 8%, the last time we saw such numbers was more than two years ago."

"Despite the obvious failures of the stimulus, the White House still wants to experiment with the same "solutions.' And, we have heard from Obama Administration officials in recent Budget Committee hearings that the President's goal is to continue funding these solutions with deficit spending for years to come.

"The American people are tired of hearing about and paying for what won't work. They know that getting our country moving again requires getting government out of the way, not finding a larger role for it in their lives."

BY THE NUMBERS:

* Cost of "American Recovery and Reinvestment Act" (aka: "Stimulus"): $787 Billion
* Final Price Tag of Stimulus: More than $1T
* Pre-Stimulus Deficit (January 2009): $1.186 Trillion
* Anticipated Deficit of this Fiscal Year: $1.65 Trillion
* Unemployment Rate (February 2009): 8.2%
* Unemployment Rate (January 2011): 9.0%
* Highest Unemployment Rate (February 2009-January 2011): 10.1% in October 2009
* Lowest Unemployment Rate (February 2009-January 2011): 8.2% in February 2009


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