Tuesday, August 03, 2010

Welcome to the so-called recovery

Over a year ago, Senate Minority Leader Mitch McConnell (R-KY) labeled the stimulus a failure. He was right then, and right now, especially on the day President Obama's Treasury Secretary, Timothy Geithner said he expects unemployment to go up before it goes down.

And in the selling of the $862 billion boondoggle, the Democrats promised that the nationwide unemployment rate would not exceed eight percent. It's now at 9.5 percent.

More from the Senate Republican Communications Center:
"Welcome To The Recovery"
For Over A Year The White House Has Told Unemployed Americans "The Worst May Be Behind Us," & That Their Economic Plan Will "Literally Drop-Kicks Us Out Of This Recession"

SEC. GEITHNER: "Welcome To The Recovery … A Review Of Recent Data On The American Economy Shows That We Are On A Path Back To Growth." (Sec. Geithner, "Welcome To The Recovery," The New York Times, 8/3/10)
Over A Year Ago The Obama Administration Predicted Economic Improvement "Immediately" Or In "Weeks To Months"
PRESIDENT OBAMA: "This Morning, We Received Additional Signs That The Worst May Be Behind Us. … I Am Convinced That We Can See A Light At The End Of Tunnel, But Now We're Going To Have To Move Forward With Confidence And Conviction To Reach The Promise Of A New Day." (President Obama, Press Conference, 8/7/09)
VICE PRESIDENT BIDEN – FEBRUARY 25, 2009: The Stimulus Will "Literally Drop-Kicks Us Out Of This Recession." "This is a monumental project, but I think it's doable. But I just think we got to stay on top (inaudible) and we got to stay on top of that on a weekly basis. Because this is about getting this out and spent in 18 months to create 3.5 million jobs and do -- to set -- tee this up so the rest of the good work that's being done here literally drop-kicks us out of this recession and we begin to grow again and begin to employ people again." (Vice President Biden, Remarks At Recovery Plan Implementation Meeting, The White House, 2/25/09)

· BIDEN – SEPTEMBER 24, 2009: "In My Wildest Dreams, I Never Thought It Would Work This Well." ("Biden On Stimulus: 'Never Thought It Would Work This Well,'" The Wall Street Journal, 9/24/09)

PETER ORSZAG, WHITE HOUSE BUDGET DIRECTOR – FEBRUARY 5, 2009: Americans To See Stimulus Benefits In "Weeks To Months." BLITZER: "If it [the stimulus bill] passes the way you want it, more or less, without huge changes, when do you think the American public will begin to feel some benefit from this? In other words, jobs will stop being lost and maybe some of them will actually be created." ORSZAG: "Well, it's going to take a bit of time, and we have to remember we’re inheriting -" BLITZER: "Define a bit of time." ORSZAG: "It will take weeks to months." (CNN's "Situation Room," 2/5/09)
LARRY SUMMERS, DIRECTOR OF THE NATIONAL ECONOMIC COUNCIL – FEBRUARY 9, 2009: "You'll See The Effects Begin Almost Immediately." BLITZER: "It's a tough call, obviously, right now for these members of Congress. But if the president gets his way and gets this package approved, he signs it into law, how soon before the American public starts to feel results, the creation of jobs?" SUMMERS: "You'll see the effects begin almost immediately." (CNN’s "The Situation Room," 2/9/09)
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