February 17, 2010

Carly Fiorina Issues Statement on Anniversary of Failed Economic Stimulus Package

SACRAMENTO, CA – U.S. Senate candidate Carly Fiorina today issued the following statement about the one-year anniversary of the $862 billion economic stimulus package championed by Barbara Boxer:

“One year ago, Barbara Boxer promised California new jobs and economic recovery in exchange for $862 billion of our taxpayer dollars. One year later, our nation is deeper in debt, unemployment in California has soared to 12.4 percent, and we have yet to see the jobs we were promised.

“If Barbara Boxer is serious about job creation and economic stimulus, her focus should be on cutting taxes and reducing regulatory burdens. However, for the last 18 years she has done the opposite by supporting taxpayer-funded growth in the size and reach of government. Clearly it is time for a change in thinking in Washington, and that starts with changing the people we send there.”

A few facts about Barbara Boxer’s record on the stimulus:

In February 2009, Boxer Said The Stimulus Would “Put Californians To Work Now.”
“Senator Boxer said, In the face of the worst economic crisis since the Great Depression, the Congress has acted today to save or create jobs in California and across the nation. With so many Californians anxious about the economy, this legislation offers help and hope. This bill will put Californians to work now building the highways, bridges, transit and rail systems, and renewable energy sources of the 21st century.” (Senator Barbara Boxer, “Boxer Praises Passage Of Economic Recovery Legislation,” Press Release, 2/13/09)

California’s Seasonally Adjusted Unemployment Rate In December 2009 Was 12.4%. (California Employment Development Department, Accessed 2/17/10)

In February 2009, California’s Seasonally Adjusted Unemployment Rate Was 10.6%. (California Employment Development Department, Accessed 2/17/10)

In December 2009, California’s Seasonally Adjusted Unemployment Rate Was 2.4% Higher – “Significantly Different” According To The Bureau Of Labor Statistics – From That Of The U.S. (U.S. Bureau Of Labor Statistics, http://www.bls.gov/news.release/pdf/laus.pdf, Accessed 2/16/10)

The Most Updated Cost Of The Stimulus Is $862 Billion, A $75 Billion Increase From Last Year’s Cost Estimate. (“The Budget And Economic Outlook: Fiscal Years 2010 To 2010,” Congressional Budget Office, 1/26/10; Douglas Elmendor, Director, Congressional Budget Office, Letter To Speaker Nancy Pelosi, 2/13/09)

The National Debt Is Already Over $10 Trillion, Or Roughly $32,787 For Every Man, Woman And Child In The United States.
(U.S. Department of the Treasury, www.treasurydirect.gov, Accessed 2/13/09; U.S. Census Bureau Website, www.census.gov, Accessed 2/13/09)

Top Economists Say The Compromise “Stimulus” Bill “Won‚Äôt Stimulate Economic Activity.”
“The compromise economic stimulus plan agreed to by negotiators from the House of Representatives and the Senate is short on incentives to get consumers spending again and long on social goals that won’t stimulate economic activity, according to a range of respected economists. I think (doing) nothing would have been better, said Ed Yardeni, an investment analyst who’s usually an optimist, in an interview with McClatchy. He argued that the plan fails to provide the right incentives to spur spending.” (Kevin G. Hall, “Will The Stimulus Actually Stimulate? Economists Say No,” McClatchy Newspapers, 2/12/09)

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About Carly Fiorina

Carly Fiorina is running for the U. S. Senate because she knows fiscal conservatism and a focus on jobs is the way to return America to greatness. More

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