SOTU FACT: If Government Spending Created Growth, Our Economy Would Be Booming
CLAIM: We need more ‘stimulus’-style government spending to boost the economy.\
- “Tonight, I’ll lay out additional proposals that are fully paid for and fully consistent with the budget framework both parties agreed to just 18 months ago. Let me repeat – nothing I’m proposing tonight should increase our deficit by a single dime.” (President Obama, State of the Union Address, February 12, 2013)
FACT: After an unprecedented four-year spending binge by Washington, millions remain unemployed, prices are rising, and our debt threatens long-term growth.
- The unemployment rate is 44 percent higher than Democrats predicted it would be without the president’s ‘stimulus’ spending binge.
- “There were about 200,000 more people looking for work this January than four years ago,” reports Fox News.
- The Obama economy is “having a crushing impact” on Americans under 30, “with just 62 percent working, and of those, half are toiling at part-time jobs.”
- At 35 weeks, “the average length of unemployment is far higher than any time between World War II and the Obama era.”
- The Congressional Budget Office (CBO) estimates the unemployment rate will remain far above what Democrats predicted it would be with all of the ‘stimulus’ spending, hovering around 8 percent for the rest of the year.
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BOEHNER QUOTE: “If government spending were what causes economic growth, as the president believes, then the economy today should be booming, and the unemployment rate in America should be plummeting.” (Speaker Boehner: Wrong Time for POTUS to Scrap Jobs Council & Delay Budget, 2/1/13)
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