Nothing New Here: President Obama to Push for More of the Same Failed “Stimulus” Spending
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Press Office
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January 24, 2011
Reports suggest that the President Obama “will call for new government spending” in his State of the Union address tomorrow night, arguing for more “investments” – i.e., more “stimulus” spending – while also talking about the need to reduce the deficit. Sound familiar? It should. It’s the same thing President Obama has been saying for the last two years as he’s led the way on a job-crushing “stimulus” spending binge that’s left us with historic unemployment and the most debt in U.S. history. For example:
- “EVEN AS WE SCOUR THE BUDGET FOR CUTS… I WILL CONTINUE TO FIGHT FOR THOSE INVESTMENTS”: President Obama: “[E]ven as we scour the budget for cuts and savings in the months ahead, I will continue to fight for those investments that will help America win the race for the jobs and industries of the future -- and that means investments in education and innovation and infrastructure.” (Remarks at Forsyth Technical Community College, 12/6/10 [debt: $13.83 trillion, unemployment: 9.4%])
- “COMMITTED TO MAKING THE TOUGH CHOICES,” BUT “NOT CUTTING BACK ON…INVESTMENTS”: President Obama: “I'm absolutely committed to making the tough choices necessary to get us the rest of the way there and bring down our deficits in the long run. But we are not cutting back on the investments that are essential to America's long-term economic growth; education, clean energy, research, and infrastructure.” (Remarks by the President to CEO Business Summit in Yokohama, Japan, 11/12/10 [debt: $13.72 trillion, unemployment: 9.8%])
- “HAVE TO GET SERIOUS ABOUT THE DEFICIT,” BUT “WHAT I WON’T DO IS CUT BACK ON INVESTMENTS: President Obama: “[A]lthough the economic crisis and the steps we took to stop the free fall … temporarily added to our fiscal challenges, it's clear that we're going to have to get serious about the deficit. … What I won't do is cut back on investments like education that are directly related to our long-term economic performance.” (Remarks by the President at a Meeting of the President's Economic Recovery Advisory Board, 10/4/10 [debt: $13.62 trillion, unemployment: 9.6%])
- “VERY DIFFICULT DECISIONS” RE: DEFICIT CHALLENGE, BUT “I DON’T AGREE … THAT WE SHOULD ALSO SACRIFICE CRITICAL INVESTMENTS”: President Obama: “So meeting the deficit challenge will require some very difficult decisions about the largely popular programs that make up the other 97 percent. … On this point, I strongly agree with my friends in the other party. What I don’t agree with is the notion that we should also sacrifice critical investments in our people and our future.” (Remarks by the President on the Economy at Carnegie Mellon University, 6/2/10 [debt: $13.01 trillion, unemployment: 9.5%])
- “WE’VE MADE MASSIVE INVESTMENTS,” BUT “WE ALSO HAVE TO REIN IN THESE DEFICITS”: President Obama: “So even as we've made massive investments to rebuild the economy in the short term, we're going to continue to do what's necessary to spur job creation and economic growth, but we also have to rein in these deficits in the long run.” (Remarks by the President to the Business Council, 5/4/10 [debt: $12.94 trillion, unemployment: 9.7%])
- “WE’VE GOT TO MAKE SOME TOUGH CHOICES,” BUT “WE CAN’T… SACRIFICE… INVESTMENTS”: President Obama: "What I’ve said here in Washington is that we've got to make some tough choices ... What we can’t do, though, is sacrifice long-term growth, investments that are critical to the future. And that's why my budget focuses on health care, energy, education -- the kinds of things that can build a foundation for long-term economic growth, as opposed to the fleeting prosperity that we've seen over the last several years.” (Press Conference, 3/24/09 [debt: $11.05 trillion, unemployment: 8.5%])
The reality is that the Obama Administration and Congressional Democrats have already “made massive investments” which have left us with fewer jobs and more debt. The new House majority, on the other hand, is focused on cutting spending and removing government barriers to job growth. This week alone, the new Republican majority will:
- Hold a hearing to examine the harmful impact ObamaCare will have on job creation, a first step toward developing better solutions that will bring down costs and protect jobs.
- Vote on legislation to save $520 million by terminating taxpayer financing of presidential election campaigns and party conventions – a proposal selected by the American people through the YouCut program.
- Hold a hearing on the REINS Act which will help rein in major federal rules and regulations that are hampering job creation.
- Hold a hearing on three pending free trade agreements that will help new create American jobs by boosting U.S. economic exports by $13 billion.
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