Rep. Mike Pence took to the House floor and lambasted President Obama, charging “since the stimulus was enacted, more than 3 million jobs have been lost in this country", despite the administration saying quite the opposite. Pence notes the administration is not basing their jobs figures off actual numbers, but rather "what economists say is a highly-inflated projection of how much economic growth is created for every government dollar that's spent". He says if you want to get an idea of the real job numbers, you have to go to the Bureau of Labor statistics and they tell a completely different story-- a net job loss of 2.4 million jobs.
In the worst economy in a quarter of a century, American families are hurting, businesses are struggling in the city and on the farm. And that's obvious to almost everyone in this country except the Obama Administration. Remarkably, yesterday, the White House issued a report saying that the stimulus bill that passed a year and a half ago, had ‘saved or created 2.5 to 3.6 million jobs.’ As my three teenagers might say to me in like circumstances, ‘Really?’ Two point five to 3.6 million jobs? Unemployment was 7.5 percent when the stimulus was passed, it's 9.5 percent today. It's important the American people know that the report, issued by the administration yesterday, isn't even based on actual numbers. It comes from what economists say is a highly-inflated projection of how much economic growth is created for every government dollar that's spent. The facts come from the Bureau of Labor Statistics. They speak for themselves. Since the stimulus was enacted, more than 3 million jobs have been lost in this country. A net job loss of 2.4 million jobs. Enough with the talk. The stimulus bill has failed. It's time for new ideas. Across the board tax relief and fiscal discipline now.