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Chairman Camp Releases Report on Failure of Democrats’ Stimulus Plan

January 19, 2011

Washington, DC – Ways and Means Chairman Dave Camp (R-MI) today made the following statement in response to the release of the report, It’s Official: On Unemployment and Jobs, Democrats’ 2009 Stimulus Was a Huge Failure:

“In January of 2009, President Obama’s chief economic advisors put together an analysis predicting that the Democrats’ stimulus package would ‘save or create’ at least 3 million jobs by the end of 2010.  The purpose of this report is to compare the Administration’s projections for what would happen in the two years following their 2009 stimulus plan with what the country actually experienced.  As the findings of the report indicate, it’s not a pretty sight.  Since that time, the unemployment rate has remained above 9 percent for 20 consecutive months, and there are 6.8 million fewer jobs than the economic advisors’ analysis predicted.  In the 112th Congress, House Republicans will pursue an agenda that creates the climate of certainty necessary to usher in a new era of private sector job creation.”