Neugebauer statement on American Recovery and Reinvestment Act - KCBD NewsChannel 11 Lubbock

Neugebauer statement on anniversary of American Recovery and Reinvestment Act

WASHINGTON, DC (Press Release) – Congressman Neugebauer (R-TX) issued the following statement today regarding the American Recovery and Reinvestment Act, signed into law February 17, 2009:

"Today marks the two-year anniversary of the passage of the failed stimulus bill created by the Democrat-controlled Congress and President Obama. The President promised our nation that if the stimulus were signed into law, it would create 3.5 million jobs and the national unemployment rate would not exceed 8 percent. With a final price tag of over $1 trillion, which added to our national debt and contributed to a record 21 months of unemployment at 9 percent or higher, the stimulus has clearly failed.

"This week, the President presented a budget that will, according to the House Budget Committee, double the national debt in five years and triple it in ten. We cannot continue to spend our way out of debt, and President Obama's budget proposal does not help our country's dire financial situation. We must cut spending so our economy can start growing again. To that end, on the anniversary of the stimulus legislation being signed into law, House Republicans are acting to cut wasteful government spending by over $100 billion."

Copyright 2011 KCBD. All rights reserved.

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