Contribute
CONNECT:

research

Stimulus Watch: Democrat Senator Says Stimulus Fell Short

- August 1, 2011

Sen. Mary Landrieu (D-LA) Admits That Obama’s Stimulus Has Fallen Short Of Expectations

SEN. MARY LANDRIEU TELLS GRETA VAN SUSTEREN THAT THE STIMULUS “HAS NOT WORKED AS WELL AS WE HAD HOPED”

Fox’s Greta Van Susteren: “If the economy were roaring I suspect this would be less of a problem because there would be more revenues going in to it and I think people would feel more optimistic that we are on the right path.”

Sen. Mary Landrieu (D-LA): “But the economy is too weak to be held hostage. That's why I so objected to the fight over this right now.”

Van Susteren: “Does that mean that the February ’09 stimulus bill has failed, if the economy is still weak two and a half years later?”

Sen. Landrieu:  “It hasn’t worked as well – it has not worked as well as we had hoped but it was better than doing nothing and that's what I object to people who say we shouldn't have done it.”

Van Susteren: “How do we know that?”

(Fox’s “On The Record,” 7/31/11)

ANYONE WHO HAS SEEN THE LATEST ECONOMIC DATA COULD TELL YOU THAT THE STIMULUS HAS FAILED TO PERFORM

Since Obama’s $831 Billion Stimulus Passed, The Economy Has Lost 1.8 Million Jobs And The Unemployment Rate Has Increased From 8.2 Percent To 9.2 Percent. (Bureau Of Labor Statistics, BLS.gov, Accessed 8/1/11)

Obama’s Economic Advisors Predicted That The Stimulus Would Keep The Unemployment Rate Below 8 Percent With Stimulus. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

  • Since Then, The Unemployment Rate Has Remained Above 8 Percent For A Post-WWII Record 29 Straight Months. (Bureau Of Labor Statistics, BLS.gov, Accessed 8/1/11)

Second Quarter GDP Growth Came In Below Expectations At 1.3 Percent And The First Quarter Was Revised To A “Stunning” 0.4 Percent. “GDP just missed expectations at 1.3%. Analysts were looking for 1.8%. Even worse, perhaps: Q1 GDP was revised from 1.9% all the way down to 0.4%, which is stunning.” (Joe Weisenthal, “BAD: GDP Misses Estimates At 1.3%,” Business Insider, 7/29/11)

  • The Wall Street Journal: First Quarter Revision “Showed The Slowdown Since The Beginning Of The Year Was Much More Drastic Than Previously Thought.” “The U.S. economy expanded at a slower pace than expected in the spring as consumers cut back on spending, while revisions showed the slowdown since the beginning of the year was much more drastic than previously thought.” (Tom Barkley and Jeff Bater, “U.S. GDP Grows Just 1.3%,” The Wall Street Journal, 7/29/11)

The ISM Manufacturing Index Has Flatlined. “The Institute for Supply Management's manufacturing gauge in July dropped 4.4 points to 50.9%, barely staying above the 50% no-change line and coming in below a MarketWatch-compiled economist poll of 54.3%. The new orders index fell into contractionary territory, and indexes for prices and employment in particular saw big drops.” (Steve Goldstein, “July ISM Manufacturing Index Slumps To 50.9%,” The Wall Street Journal’s “MarketWatch”, 8/1/11) 


Previous post

Pivoting In Circles

Next post

They Said It! “Morning Joe” Repeats Democrats’ Complaints: President Obama Has Been “Invisible
Republican National Committee

Connect With Us

Republican National Committee
Chairwoman Ronna McDaniel
News & Videos
  • 310 First Street SE, Washington, DC 20003
  • 202-863-8500

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee. Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee.
Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com