On ABC’s Good Morning America, the Democrats’ trillion-dollar “stimulus” spending bill that isn’t working was the top story today, as White House correspondent Jake Tapper highlighted our nation’s rising unemployment and growing dissatisfaction with the Democrats’ massive spending plan. Democrats had promised that the “stimulus” would create jobs “immediately,” and the Administration promised that the spending plan would hold unemployment below eight percent.
With unemployment now at 9.5 percent and rising, middle-class families and small businesses across the nation are asking, “where are the jobs?” Meanwhile, Democrats are all over the map about whether to borrow and spend even more in another desperate attempt to jumpstart the economy. Republicans believe that if Democrats want to protect and create jobs, they should start in Congress by scrapping job-killing legislation like Speaker Pelosi’s national energy tax and their government takeover of health care, which includes a new small business tax. Video and a full transcript of the Good Morning America piece follow:
CLICK TO PLAY
ABC’S DIANE SAWYER: Good morning, America, Diane Sawyer, Robin Roberts. We’re glad you’re joining us for our tour of the world this morning it’s Thursday, July 9th, 2009 and the economy is taking front and center again.
ABC’S ROBIN ROBERTS: Unfortunately so. And both sides of the aisle starting to voice their concerns saying the $800 billion stimulus package is not working, and another fusion of cash may be necessary. So that’s where we’re going to begin this morning, in Italy, where President Obama is discussing the global economy right now at the G-8 summit. Senior White House correspondent Jake Tapper is there and has the latest for us. Good morning, Jake.
ABC NEWS SENIOR WHITE HOUSE CORRESPONDENT JAKE TAPPER: Good morning, Robin. Well, President Obama today will chair the major economies forum, to discuss the global economy, from Europe to Indonesia, but back at home a rising chorus of voices is wondering if the U.S. economic plan is working and if it’s enough.
ABC VOICEOVER: The President and other leaders of the G-8 nations issued a statement pledging economic growth, growth that has yet to be seen in the United States. The jobless claims for the month of June are close to an astounding 10 percent, while the stock market this month has plunged to its lowest level since April 30th. It’s been five months since the colossal $787 billion stimulus package was signed, with only about $56 billion of it having been distributed there’s growing concern that there’s little economic payoff.
HOUSE REPUBLICAN CONFERENCE CHAIRMAN MIKE PENCE (R-IN): And even though the President, on the 1st of July, said that the stimulus bill had, quote, done its job, my constituents see it differently.
VOICEOVER: And it’s not just Republicans. The Obama Administration this week acknowledged it underestimated how bad the economy was when crafting their stimulus package.
VICE PRESIDENT BIDEN: Truth is, we and everyone else, misread the economy.
VOICEOVER: But in an interview with ABC News, the President said he had no regrets.
PRESIDENT OBAMA: There’s nothing we would have done differently.
VOICEOVER: Some Democrats, however, are now calling for another stimulus package, including some within the President’s own economic team.
OBAMA ECONOMIC ADVISOR LAURA TYSON: Why not begin to think about over the next several months, whether we need a stimulus package and what it should include?
VOICEOVER: Republicans say more government spending is not the answer.
HOUSE REPUBLICAN LEADER JOHN BOEHNER (R-OH): All of this talk about a second stimulus bill has been rather interesting. I think it’s an admission on the part of the administration that, you know, their stimulus plan is not working.
VOICEOVER: The President says he’s not ruling out a second stimulus, but the deficit is a major concern, as well.
TAPPER: Now the statement the G-8 countries just put out on the economy reflects this tension talking about the need for, quote, forceful and coordinated action to provide stimulus to economic growth while also talking about the need for countries to, quote, commit to ensure fiscal sustainability. Diane?
SAWYER: Okay, Jake. Our thanks to you.
Wow, is there some dissention in the ranks of team Fascist, er, uh...Team Obama? Biden says we misread the economy...(Funny, you would think they knew what they were getting into. How many times did Biden and Barry say this was the worst economy since the Great Depression? And they are trying to tell us they misread it? Come on now...You are just incompetent and have wrongheaded policies) Obama says all is well, we wouldn't do anything different, just again ramrod a bill through before actually reading it (including the AIG bonuses too?). But Obama's advisor says, let's do Stimulus Two: Financial Bugaboo? Wow....I think things are beginning to crumble for the narcissus president...and that is good for America.