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Brown Comments on Failed Stimulus as it
Leaves 467,000 More Americans Out of Work
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Democrats continue to pass the wrong policies at the wrong times
as the struggling American public searches for real solutions,
not more spending, taxes or unemployment |
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Washington, D.C. – Congressman Henry E. Brown, Jr. (R-SC) issued the following statement after the Bureau of Labor Statistics announced that 467,000 more jobs were lost in June, far more than expected, pushing the unemployment rate up to 9.5% - a 25 year high. The report reveals that job losses are accelerating, with over 100,000 more Americans losing work in June than in May.
“At a time when families are struggling to make ends meet, the rising unemployment rate is further evidence that we cannot borrow and spend our way back to a growing economy.
More than four months after the economic stimulus was signed into law, our country still faces the highest unemployment in almost three decades, and South Carolina itself has a rate of over 12 %, the fourth highest in the nation.
Unfortunately, the Democrats’ answer to near record unemployment is runaway federal spending and a national energy tax that will increase the cost of energy on every household and small business in the country, and send millions of American jobs overseas to places like China and India.
Our nation deserves a strategy for prosperity, not more spending, more taxes and more unemployment.”
Republicans offered a better plan to create more American energy and more American jobs. Learn more here.
FISCAL TIMELINE, 2009
• February 13, 2009: Democrat House passes s$787 billion stimulus without Republican input.
• February 17, 2009: $787 billion stimulus signed by President Obama.
• February 23, 2009: Bipartisan budget summit (Total debt outstanding: $10.839 trillion).
• March 11, 2009: $410 billion appropriations bill enacted, with over 8,500 earmarks.
• March 11, 2009: President announces earmark reforms after passage.
• March 24, 2009: Presidential prime time news conference (Total debt outstanding: $11.046
trillion).
• April 20, 2009: Presidential $100 million savings announcement (Total debt outstanding:
$11.189 trillion).
• April 29, 2009: House passes irresponsible $3.6 trillion budget.
• End of April, 2009: Administration bails out Chrysler.
• May 7, 2009: President submits savings proposal of .5% of the budget (Total debt outstanding: $11.256 trillion).
• End of May, 2009: Administration purchases GM (approx $50-$70 Billion).
• June 4, 2009: House Republican propose $375 billion in common-sense taxpayer savings ti Administration.
• June 9, 2009: President holds a PAYGO summit.
• June 15, 2009: CBO announces that the Kennedy-Dodd Govt. Healthcare bill would cost more
than $1.3 trillion over ten years.
• June 16, 2009: House Democrats pass $100.9 billion Supplemental spending bill, plus $108 billion in “loans” to the International Monetary Fund.
• June 23,24,25, 2009: U.S. Treasury forced to auction a record $104 billion in Treasury notes
to cope with America’s debt obligations.
• June 26, 2009: Speaker Pelosi brings cap & tax legislation - that will cost millions of jobs and impose a crippling energy tax upon working families - before House of Representatives.
• July 2, 2009: Unemployment rate in U.S. reaches 9.5% after 467,000 jobs lost in June. |
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