Obama: $ 787 Billion Economic Stimulus “Has Worked As Intended”
President Barack Obama said his $787 billion stimulus bill â€œhas worked as intendedâ€ as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.
â€œIt has already extended unemployment insurance and health insurance to those who have lost their jobs in this recession,â€ Obama, who is traveling today in Ghana, said in his weekly Saturday radio and Web address. â€œIt has delivered $43 billion in tax relief to American working families and business.â€
Were it not for the stimulus program, the president said, â€œstate deficits would be nearly twice as large as they are now, resulting in tens of thousands of additional layoffs — layoffs that would affect police officers, teachers, and firefighters.â€
In the weekly Republican response, House Minority Whip Eric Cantor of Virginia said the stimulus bill was â€œfull of pork- barrel spending, government waste and massive borrowing cleverly called â€˜stimulus.â€™â€
â€œThe plain truth is that President Obamaâ€™s economic decisions have not produced jobs, have not produced prosperity, and have not worked,â€ Cantor said.
He said the Republicans want reductions in tax rates that he said would help middle-class families.
In asking for public patience, Obama said the recovery act â€œwasnâ€™t designed to restore the economy to full health on its own, but to provide the boost necessary to stop the free fall.â€
I thought the economic stimulus pushed by the Democrats and Obama was all about JOBS? You know, like in putting people back to work.
Not to bailout bloated state governments, like California, who refuse to live within their means without more and more taxes.
The spin is not going to play too well and the polls reflect the public’s displeasure. But, to spin results and ask for patience?
This is not going to fly, Mr. President.
Listen to Republican Congressman Eric Cantor from Virginia:
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