“We have rescued this economy from the worst of this crisis,” said Mr. Obama in a statement, reported by CNN. “We acted because failure to do so would have led to catastrophe. We acted because we had a larger responsibility than simply winning the next election. We had a responsibility to do what was right.”
Republicans believe the economic stimulus bill failed to create jobs as seen in the rising unemployment rate of 9.7 percent.
“In the year since the Democrats’ stimulus program was enacted, over three million jobs have been lost, billions of dollars have been wasted, and an unprecedented debt has been passed on to our children – these are not the results that America hoped for,” said Republican Eric Cantor (R-VA), reported by the New York Times. “Struggling small business owners, families and young workers see trillions in debt, on their tab, and still no job creation.”
The Congressional Budget Office, and independent institution endorsed by Republicans and Democrats, believes the bill created 600,000 to 1.6 million jobs in America. “Part of the controversy also is that...millions of Americans are still without jobs, millions more are struggling to make ends meet, so it doesn’t feel like much of a recovery,” said Mr. Obama.
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