McCotter: Obama's Stimulus has Failed

Thursday, 28 Jan 2010 08:17 PM

By Jim Meyers

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U.S. Rep. Thad McCotter tells Newsmax that President Obama was “contradictory” when discussing the economy during his State of the Union speech — and stated flatly that Obama’s stimulus plan has failed.

The Michigan Republican, Chairman of the Republican House Policy Committee, also chastised Obama for expressing criticism of the Supreme Court during his speech Wednesday night.

See Video: Rep. Thad McCotter slams Obama’s failed stimulus and costly economic programs - Click Here Now

Newsmax.TV’s Ashley Martella noted that Obama spoke at length about jobs in his speech, and that Michigan’s unemployment rate is the highest in the nation. He asked Rep. McCotter if he heard Obama say anything that made him feel optimistic.

“I’m very concerned, actually, because of the contradictory nature of the speech,” said McCotter, a member of the Committee on Financial Services.
“On the one hand the president says the stimulus is working, it’s the best thing since sliced bread, and in the next breath he says he wants a jobs bill.

“The stimulus, which is supposed to bring employment and protect jobs and allow the economy to grow, has failed. The president’s refusal to admit this while there is still $500 billion in taxpayers’ money to be expended does not give us much prospect that somehow this administration has a plan other than spending. And as we know, spending is not a plan for economic recovery; it’s an obstacle to it.

“My largest concern is that the president’s fundamental premise on economic policy is that prosperity comes from the government. And as we all know, prosperity comes from the private sector, not the public sector.”

Martella asked what Obama is not doing that he should be doing in regard to the economy.

“I think you have to look at some of the meat and potatoes things that have hindered job creation and production in the United States,” McCotter responded.

“[We need] regulatory reform, litigation reform, tax relief for families, for small businesses, much of which was put in the stimulus alternative that House Republicans put forward over a year ago at the president’s request.
“That advice was not followed, and what we are seeing is a trillion-dollar spending bill that I think is actually going to impair job creation down the road and potentially lead to stagflation.”

In his speech, Obama blasted the recent Supreme Court decision that political ad spending by corporations and unions is protected by the First Amendment, Martella observed.

“I think the president should be reminded that we have three separate, equal branches of government, and if one wishes to facilitate change and cooperation and conciliation in Washington, the executive branch should not attack the judicial branch, nor the legislative branch,” McCotter said.

“This does not seem to be a particularly fruitful way to go about getting a better environment to do the job for the American people.”

McCotter said Scott Brown’s victory in the Massachusetts in the race for Ted Kennedy Senate seat was not the result of a “right-wing revolt” but a “centrist revolt against one party, the Democratic Party, having an overwhelming majority and trying to drag the country to the left.”

He also said he hoped Americans would reject “the president’s call to trust in Washington politicians and start seeing Washington trust the American people. Because in every decision this administration has made to date, they have come down on the side of expanding government at the expense of the American people, and that is absolutely antithetical to keeping this the greatest country on earth.”

See Video: Rep. Thad McCotter slams Obama’s failed stimulus and costly economic programs - Click Here Now

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