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ICYMI: Chairman Priebus: “The Five Biggest Failures From President Obama’s Stimulus Law”

- February 17, 2012

Excerpts from U.S. News and World Report 

By: Reince Priebus

February 17, 2012

“Some milestones are worth celebrating. Others, we'd much rather forget. Today, sadly, is the latter. On this day in 2009, President Barack Obama signed the stimulus bill into law.

“Three years and $825 billion later, the results are clear. Instead of producing an economic recovery, the stimulus produced only broken promises and massive debt. The stimulus failed—and by the president's own standards at that…

“First, Obama's economic advisers promised the stimulus would keep the unemployment rate below 8 percent. In 2012, the unemployment rate was supposed to fall below 6 percent…

“Today, 12.8 million Americans are unemployed, 8.2 million cannot find enough work, and 1.1 million have given up looking for work altogether. Unemployment still remains above 8 percent…

“Second, Obama promised the stimulus would not only have a large impact but also an immediate impact. Said the president-elect, ‘I'm confident ... our 21st century investments will create jobs immediately,’ adding, ‘We've got shovel-ready projects all across the country’…

“Third, Obama said in February 2009 that the stimulus would lift ‘2 million Americans from poverty.’ But since Obama took office, 6.3 million Americans have fallen into poverty…

“Fourth, the ‘green economy,’ Obama vowed, would create millions of jobs. The Energy Department has handed out $35.2 billion in stimulus money to jumpstart the clean energy industry, but it's created more red ink than green jobs…

“Nearly half a billion in taxpayer dollars was lost to the now-bankrupt solar energy company Solyndra. The company, which has since laid off over 1,000 workers, was Obama's self-described poster-child for ‘American ingenuity and dynamism’ in 2010…

“Finally, the fifth promise: one million electric cars. Obama promised the stimulus would put one million electric vehicles on the road by 2015. Last month, the Washington Post reported that ‘evidence is mounting that President Obama was overly optimistic’ to make that pledge…

“In his budget, Obama called for billions more in additional stimulus-style spending. At a time when Americans are demanding a more effective, more efficient government, he has chosen to increase spending and increase taxes…

“Now is the time for new leadership—a Republican president who understands the roles of government and the free market. In November, we can elect that president. And that would be a milestone worth celebrating.”

Click Here To Read The Full Op-ed: http://bit.ly/wUQeSW

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