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Congressman Terry on CBO Estimated Impact of Stimulus


Location: Omaha, NE

Representative Lee Terry (R-NE) today made the following statement after the Congressional Budget Office (CBO) published the estimated impact of the President's stimulus and its effect on employment and economic output in 2012:

"Today, we learned from the CBO that real GDP increased at just over one-tenth of a percent in 2012 while the unemployment only lowered somewhere north of one-tenth of a percent. But the stimulus did manage to add $830 billion to the deficit during 2012.

"The President just doesn't get it. It's been nearly two weeks since he addressed the nation at the State of the Union about strengthening American manufacturing and creating jobs but eight months have passed without nominating a Secretary of Commerce. If we're serious about stimulating the economy, creating jobs and improving our infrastructure, let's start with building the Keystone pipeline."

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