The Obama administration warned at the height of the stimulus debate that without the recovery package, the jobless rate would hit 8.8 percent in 2010 -- advisers had said the recovery package could hold unemployment to 7 percent. But that rate hit 8.9 percent in April, and then 9.4 percent last month.
House Minority Leader John Boehner said Friday that the administration was "ripping off the American people."
Alabama Sen. Richard Shelby, ranking Republican on the Senate Banking Committee, told "FOX News Sunday," the deficits the administration is producing represent the "most serious" the country has ever seen.
"I can tell you if we get to a $20 trillion debt, this country -- and we're headed down that road -- our ability to pay and service that debt is going to be questioned all over the world," he said.
Monday, June 08, 2009
Stimulus plan has been worse than doing nothing
As with most things, government intervention has made things worse. A nice long vacation by Congress would have had a better effect on the economy.
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