Rep Paul Ryan: By Every Objective Measure The Stimulus Has Failed (Video)
Posted by Jim Hoft on Tuesday, July 27, 2010, 5:31 PM
Rep. Paul Ryan (R-WI) recently spoke out against the failed Obama-Pelosi Stimulus Plan at the House Budget Committee Hearing.
It was another excellent speech by this bright young conservative star:
Rep. Ryan on the failed Stimulus Plan:
Over a year ago, Congress enacted a stimulus bill that spread huge spending increases across the government. By every objective measure – from jobs and economic growth to the rising price tag – the stimulus has failed.
It has failed to create the jobs promised. Rather than “save or create” 3 to 4 million jobs, the economy has shed 2.7 million jobs since the stimulus passed. It has failed to keep the unemployment rate below 8% as promised. Unemployment still hovers near 10 percent.
It has failed to revive the economy, as growth remains sluggish and there are growing fears of a double-dip recession.
A year ago, we were told the stimulus would cost us $787 billion. That cost has risen in the latest estimate to $862 billion. The total price eclipses one trillion dollars when you include the borrowing costs.
Rather than acknowledge the limitations of this borrow-and-spend approach, the Administration and this Congress have opted to move the goal posts and to double-down. We will likely be told today – as Americans have been lectured throughout the so-called “Recovery Summer” campaign blitz – that those promises were based on “miscalculations of the severity of the situation.” The proponents will tell us that we should all be grateful that the pain isn’t more acute, and that it is not fair to hold policymakers accountable for the failures of their policies.
The economic models that overpromised on the stimulus were clearly wrong, yet the Administration relies on these same economic models to make the case to double-down on this failed borrow-and-spend economic experiment.
The failed stimulus is unfortunately typical of Washington’s destructive economic agenda. The government cannot spend, tax, and regulate its way into economic prosperity, but that’s exactly the policy course this Majority has chosen. Washington’s economic overreach is paralyzing investment and growth, fostering an environment of anxiety and uncertainty, and further eroding the American people’s trust in their elected leaders. From health care and the financial sector to the auto industry and the costly cap-and-trade national energy tax – this Administration and this Congress seem to believe that the answer to every problem is to explode the size of government and to centralize power in Washington.
And, while the Administration will be quick to highlight what it sees as accomplishments from deficit spending on its stimulus program, we still have no budget. We just learned the Administration’s budget and economic update – due tomorrow – will be delayed this year. We still haven’t received the Trustees report on Medicare and Social Security’s financial health, which we usually receive in April.
The American people are fed up with the relentless push to spend money we don’t have, add to our crushing burden of debt, and evade accountability for the dismal results.
We need to chart a new course. Let’s cancel the remaining stimulus funds, get a grip on runaway government spending, and advance pro-growth economic policies. We need to spur sustained job creation, rebuild confidence in our future, and restart the American engine of prosperity.
More… Young Gun Rep. Paul Ryan (R-WI) schooled Chris Matthews yesterday on Hardball.
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Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 89 Comments
Hedgehog commented:
I really like this guy. He is squared away. He knows what works. But most of all he knows all about the Progressive movement and how evil and insidious it is. And he is not afraid to say what is on his mind. This guy’s got it all.
Jim commented:
The lib answer is – we just haven’t thrown enough mony at the economy, so let’s throw some more. Hey, it ain’t our money.
November is coming.
Chisum commented:
BO is not a job creator.
He is a job DESTROYER!
Robin commented:
Paul Ryan is my choice for 2012. He is never listed in the top 10, but he does have “the whole package”.
xxx commented:
librerals are viruses that destroy all good things. They lie to trick everyone.
ogee commented:
He hit the nail on the head. Lack of confidence is pervasive. Cancel the remainder of the stimulous.
He says it like it is. It is what it is. We need a change. Any hope left?
Bob Grant commented:
We told you so’s — 1
Keynsian Pump Primer’s — 0
Or as Bob Dylan would say
“The Pump don’t work cuz the vandals took the handles”
&
Please say a prayer for Jim to have a successful surgery followed by a speedy recovery.
CattusMagnus commented:
PAUL RYAN IS A POLITICAL DREAMBOAT!!
Bob Grant commented:
Agreed Robin
My dark horse for 2012 & He will at least be on the very short list for VEEP.
BarbaraS commented:
The stimulus was never meant to create jobs. Even Joe (the mouth) Biden said so. All it did and was meant to do was give cash to dim supporters and cronies. And it wasn’t that big a success at that either. Most of the money is still not distributed. As an above poster said “cancel the rest of the stimulus” which is something the dims will never do.
Baroke commented:
well, ahh, but, but, but, he probably stinks at reading a a a teleprompter
Taxpayer1234 commented:
While I really like Ryan and think he has a great future as a conservative leader, his speech sounded more like a 2012 campaign speech. And this from the guy who recently poked the GOP for paying more attention to pollsters than the economy.
ER White commented:
Alex Sink, My Cousin, Proposes an Energy Plan for More Expensive Energy
http://www.practicalstate.com/?p=1318
Something the FL GOP can Rally Around and Oppose
Cheers
Opus #6 commented:
Ryan is attractive, smart and conservative.
What’s not to love?
mark commented:
Paul Ryan is problematic for libs because he’s citing facts. Those always get in the way of lib opinions. Chris Matthews (in the linked video) is confounded by numbers and can’t keep his own attempt at facts separate from his opinions. Rep. Ryan forgot to mention that US Home ownership is now at its lowest level in a decade. Nearly 19 Million homes are vacant right now. Ghost towns. Thanks Barack. And Rep. Ryan—keep up the great work!!
kato commented:
A failure as an economic stimulus, yes. But it was a successful payoff to the Jivemaster’s special interests, including labor unions and all those parasites who get tax refunds even though they don’t pay taxes.
The Jivemaster and this Congress have pulled off the first trillion-dollar theft in history.
xxx commented:
Pennsylvania more people lost jobs from Jan- to July 2010
http://www.bls.gov/eag/
Obama repressive economic plan.
Time to go play some golf.
Chippy commented:
I think we need Ryan right where he is. He can be a great speaker of the house. This socialism began in the house and needs to end there.
donh commented:
You hear stories how that LA City manager was pulling down a 3/4 million dollar salary…How much of that was stimulus funds? How much of the stimulus funds have been spent by Michelle Obama and her chef? You really believe the Clintons are paying 2 million for Chelsea’s wedding out of their own pocket? Barney Frank won’t even pay a $10 fairy boat fare out of his own back pocket. I will bet that wedding comes out of the state department budget.
Larkin commented:
The stimulus isn’t a failure until the sycophant media says it’s a failure.
Politicians aren’t crooks unless the state-run media says they’re crooks.
Communist thugs aren’t really thugs until the red-diaper media says they’re thugs.
That’s modern-day reality, thanks to ignorant Americans…(and a very active fifth column).
Robert commented:
At least none of the stimulus money
has gone to “white construction workers”.
Robert commented:
Last week or so Obama made the claim of x million jobs “saved and created”. He merely claimed from the initial projection, which has proven to be false.
Robert commented:
The Democrat-controlled Congress can’t be
bothered to submit a budget this year.
CommieBlaster commented:
WATCH THE STIMU-LESS VIDEO:
http://www.youtube.com/watch?v=kh42v6790N4
Sojourner commented:
Obama’s Economic Laundry List.
Spend, borrow,
create a crisis.
kill the economy,
send out Biden,
praise..the stimulus.
buy votes,
redistribute, regulate.
destroy free markets,
crony capitalism.
send out Biden,
praise..the stimulus.
Spend, borrow…repeat.
Paul Ryan’s got the goods..he holds great promise to lead us out of the horrific mess we’re in…I’d vote for him in a heart beat..twice. {if I lived in Chicago.}