CONGRESSMAN LONG: THE STIMULUS HAS FAILED02/17/11
Washington, DC– Today, Representative Billy Long released the following statement on the second anniversary of the President’s failed stimulus bill becoming law:
“President Obama promised our nation that if the “stimulus” package was signed into law, our national unemployment rate would not exceed 8 percent and it would save or create 3.5 million jobs,” said Long. “Instead, unemployment has been at 9% or higher for a historic 21 months and 2.5 million jobs have been lost. Our nation now finds itself in a spending-driven debt crisis.”
“Since President Obama was sworn in, the national debt has grown from $10.7 trillion two years ago, to more than $14 trillion today. This mountain of debt, nearly the size of our entire economy, threatens not just Missouri families and businesses, it threatens a new financial crisis. Unless Washington acts, massive tax hikes, economic stagnation, and national bankruptcy will rob our children of the American Dream.”
Congressman Long made reducing Federal spending one of his top priorities when he came to Washington. Congressman Long supports a minimum of $100 billion in cuts to non-security discretionary spending though an upcoming Continuing Resolution to fund the government through the end of this fiscal year.
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