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Kline: Six Months After Enactment, ‘Stimulus’ is Little More than a Trillion Dollar Broken Promise

Six months to the day after enactment of the American Recovery and Reinvestment Act, Rep. John Kline (R-MN) – the top Republican on the U.S. House Education and Labor Committee – highlighted America’s continued job losses and plummeting public opinion about the legislation as proof that the nearly trillion dollar federal spending spree has failed to achieve its objectives.

“Democrats in Washington rushed enactment of the so-called economic stimulus package with promises that it would stem the tide of unemployment and provide a jolt to our struggling economy. Half a year later, an additional 2.8 million Americans have lost their jobs, and the only thing that seems to have been stimulated is massive government bureaucracy,” said Kline.

Kline pointed to the July jobs report – which showed a loss of 247,000 jobs and the national unemployment rate hovering at 9.4 percent – as evidence that the stimulus package did not create the jobs that were promised. In fact, Democrats suggested that unemployment would not exceed 8 percent if the $787 billion plan became law.

“The American people know the stimulus hasn’t worked. They also know it is our children and grandchildren who will be forced to pay its nearly trillion dollar price tag,” said Kline.

Kline pointed to a new poll from USA TODAY/Gallup showing a majority of Americans (57 percent) believe the stimulus package is having no effect on the economy or making it worse. The poll also found that 68 percent of those surveyed believe the stimulus has had no effect on their short term financial situation. In the long term, the poll found that 60 percent believe the stimulus will have no effect on or will make the economy worse, while 70 percent believe it will have no effect on their own financial situation or will make it worse.

 

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