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February 23, 2012 - 10:15 AM

Charlotte Observer Op-Ed - Recovery Act hasn't worked (Senator Richard Burr)

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Recovery Act hasn't worked
By Senator Richard Burr, Charlotte Observer, February 23, 2012

In case you missed it, check out Senator Richard Burr’s op-ed on the failed stimulus in the Charlotte Observer this morning:
 
Three years ago, President Obama signed the American Recovery and Investment Act, better known as the stimulus bill, into law, promising the American people that his $825 billion spending package would create shovel-ready jobs, keep the unemployment rate below 8 percent, and turn the economy around. 
 
These claims, however, have amounted to nothing more than broken promises.  Shovel-ready jobs are still nowhere to be found, and unemployment has exceeded 8 percent every month that he has been in office, hitting a national record of 36 straight months.  
 
I do not blame the President for the economic difficulties he inherited, but I do hold him accountable for the ineffective, expensive, job-killing policies he has forced onto the American people over the last three years.  It is time for him to face the facts – his policies have failed, and they are making our economy worse. 
 
Despite clear indicators like our national unemployment rate, the Administration still refuses to acknowledge that the stimulus failed to deliver.  President Obama and others in the Administration, including Vice President Biden in this very paper, continue to tout the success of the stimulus bill, asserting that their expensive law not only overcame the economic hurdles they inherited, but also jolted our economy back to life.  One has to wonder what evidence they are looking at that could lead them to such a misguided perception.
 

 
More government spending has not spurred job growth over the past three years, and it won’t work now.  President Obama promised that the stimulus would create 3.5 million jobs, but 1.2 million jobs have been lost since he took office.  Close to 20 million Americans are unemployed.  He promised that the stimulus would lift 2 million Americans from poverty, but 6.3 million Americans have fallen into poverty under his watch. 
 
The bottom line is that the stimulus wasted taxpayer money and failed to deliver on its promises.  Billions of dollars went to companies and projects connected to Democrats’ political allies and donors, including half a billion dollars  to now-bankrupt Solyndra, which laid off 1,100 workers last year. 
 
Rather than acknowledging the gravity of our economic challenges and making tough choices to get our economy back on track, the President’s budget for the 2013 fiscal year proposes more of the same egregious spending, imposes tax hikes that will hurt job creators and our economy, ignores the pending insolvency of Medicare and Social Security, and fails to reduce the debt and rein in spending.  I have news for the president: words alone are not enough to turn our economy around and put Americans back to work.
 

 
President Obama needs to realize that turning our economy around is not about how much money Washington bureaucrats can spend. It is about getting government out of the way and creating the climate for growth and jobs.
 
Read the full op-ed here: http://bit.ly/zgONLC





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