October 11, 2010

New jobless numbers released Friday show the $800 billion stimulus program is a failure, U.S. Rep. Lee Terry said today.

The nation lost 95,000 jobs in September, according to the data released by the U.S. Labor department. Unemployment remains high at 9.6 percent, despite the fact that the architects of last year’s stimulus law said it would hold unemployment to eight percent.

“The stimulus program has only stimulated more government,” Terry said. “I opposed this program since it added $800 billion to the debt. These new jobless numbers unfortunately verify my position on this issue. They show that my opponent is wrong to support this big-government program.” (White’s support of stimulus: news article, Omaha World-Herald, November 4, 2009)

Terry said new hiring is being held back by businesses’ uncertainty over the future of current tax cuts as well as whether out-of-control spending will continue in Washington.

“My opponent said in his television ad that ‘it’s just wrong’ to pile more debt on our children but he then proposes to do just that by adding $800 billion in stimulus costs to the nation’s debt,” Terry said. “My opponent says he will be independent, but then supports the big ticket items of Nancy Pelosi’s liberal agenda,” Terry said.

The jobless numbers show 14.8 million people are out of work. The unemployment rate has been stuck above 9.4 percent for a year now. (“Jobless rate remains at 9.6 percent”, Politico, October 8, 2010) Adding in people who have given up looking for work or are settling for a part-time job when they want to work full-time, the rate jumps to 17.1 percent. (“Job Losses Increase Pressure on Fed,” Wall Street Journal, October 9, 2010)



< Return to News Page