WASHINGTON, D.C. – Congressman Eric Cantor (VA-07) today issued the following statement on the 2nd birthday of the failed stimulus:
“Today marks the 2nd birthday of the stimulus that failed to meet the Democrats' promise to create jobs and get our economy back on track. Despite assurances that the stimulus would keep unemployment below 8 percent, today, nearly a trillion dollars later, it’s 9 percent. At the time, House Republicans stood united in opposition to the stimulus, and offered our own plan to spur investment, empower small business people and create private sector jobs. Two years ago, the national debt was $10.7 trillion; today, it is more than $14 trillion. These figures run counter to the philosophy driven by the President and Congressional Democrats that Washington knows best when it comes to spending taxpayer dollars, job creation and economic growth. Yet despite these obvious flaws, the President and Senate Democrats this week pushed a status quo approach for this year’s budget that locks in bloated spending levels which increased 24% over the past two years and ‘invests’ trillions of taxpayer dollars in more stimulus-style spending.
"In contrast, House Republicans are fully committed to using every tool at our disposal to rein in out-of-control spending so that we can foster an environment for economic growth and create jobs. Today, we are wrapping up consideration of the Continuing Resolution which reduces spending by $100 billion and takes a first step toward changing the over-spending culture in Washington. This spring, our budget will take serious action on long-term spending to start getting our fiscal house in order and get people back to work. We cannot afford to continue to gamble away our children's future and back more government-sponsored stimulus efforts.
“On the birthday of the stimulus, let’s step back and recognize that Washington does not always know best. We need to reduce spending and encourage businesses to grow and create jobs in the private sector, not spend more money that we don’t have on big-government programs. To put it simply, less government spending equals more private sector jobs.”