On Two-Year Anniversary, Sessions Comments On Failed Stimulus
WASHINGTON—U.S. Sen. Jeff Sessions (R-AL), Ranking Member of the Senate Budget Committee, today commented on the second anniversary of the enactment of President Obama’s stimulus package, which spent nearly $1 trillion in a failed effort to revive the economy and bring down unemployment. Sessions made his remarks at a hearing with Treasury Secretary Timothy Geithner, where he also addressed the president’s threat to veto Republican proposals to reduce spending this year:
“Let’s remember: those arguing that we cannot reduce spending are the same ones who argued two years ago that the massive government stimulus would speed our economic recovery. They were wrong. Our recovery has lagged far behind past recessions and unemployment has remained painfully high. The failed effort to revive the economy through a surge in government spending has instead imperiled our economy with a crushing debt that stifles job growth today and threatens our prosperity tomorrow.
So, Mr. Geithner, you will forgive me if I am unconvinced by arguments that we must preserve every cent of this year’s $1.65 trillion deficit.”
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