Thursday, February 17, 2011

Latta: No Birthday Party for the Stimulus

Rep. Bob Latta (R, OH-05)
Washington, D. C.Congressman Bob Latta (R-Bowling Green) issued the following statement regarding the second anniversary of the failed stimulus:
“It is with great regret that today Americans have to be reminded about the failed stimulus policy under President Obama.  It has been two years and the so-called stimulus fails to reduce unemployment and continues to contribute to our skyrocketing debt.  Right now we are borrowing 42 cents on the dollar, much of it from the Chinese, to pay for this historically high spending.
“President Obama and Congressional Democrats declared that a massive spending package would save jobs but the high unemployment number reflects otherwise. All predictions of the stimulus spurring job creation have failed miserably; most prominently in the Administration’s 2009 prediction that government spending would prevent the unemployment rate from topping eight percent.
“The best policy for economic growth and job creation is not more government spending but lower taxes. Washington must focus on addressing this spending-driven debt crisis by ending burdensome regulations and downsizing government. The path to economic recovery is through the private sector, not the federal government.”