The REALITY of... "American Recovery and Reinvestment Act"

Obama Promised Unemployment Would Not Rise Above 8 Percent With $862 Billion Stimulus. (Christina Romer and Jared Bernstein, "The Job Impact Of The American Recovery And Reinvestment Plan," 1/9/09)

• REALITY: Unemployment Currently At 10 Percent. (U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 2/4/10)

Obama Promised His Stimulus Would Create 3.5 Million Jobs By End Of 2010. (President Barack Obama, Remarks At The Signing Of The American Recovery And Reinvestment Act, Denver, CO, 2/17/09)

• REALITY: Since Obama Signed Stimulus Last February, America Has Lost 2.8 Million Jobs. (U.S. Bureau of Labor Statistics,www.bls.gov, Accessed 2/4/10)

Biden Promised Stimulus Would Create Construction Jobs. "Road projects, energy projects and construction projects are being started as soon as they pass review, contracts are competitively bid and reporting systems are in place." (Joe Biden, "What You Might Not Know About The Recovery," The New York Times, 7/26/09)

• REALITY: Since Obama Signed The Stimulus Last February, 712,000 Construction Jobs Have Been Lost. (U.S. Bureau of Labor Statistics,www.bls.gov, Accessed 2/4/10)

Obama Claims Stimulus Created Manufacturing Jobs. "That's right -- the Recovery Act, also known as the stimulus bill. Economists on the left and the right say this bill has helped save jobs and avert disaster. But you don't have to take their word for it -- Talk to the window manufacturer in Philadelphia who said he used to be skeptical about the Recovery Act, until he had to add two more work shifts just because of the business it created." (President Barack Obama,Remarks In State Of The Union Address, Washington, DC, 1/27/10)

• REALITY: Since Obama Signed The Stimulus Last February, 847,000 Manufacturing Jobs Have Been Lost. (U.S. Bureau of Labor Statistics,www.bls.gov, Accessed 2/4/10)

Obama Claims Stimulus Created Teaching Jobs. "Because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed -- 300,000 are teachers and other education workers." (President Barack Obama, Remarks In State Of The Union Address, Washington, DC, 1/27/10)

• REALITY: Since Obama Signed The Stimulus Last February, 55,000 Education Jobs Have Been Lost. (U.S. Bureau of Labor Statistics,www.bls.gov, Accessed 2/4/10)

Obama Promised Recovery Act "Will Create Good Jobs That Pay Well And Can't Be Shipped Overseas." (The White House, "Remarks By The President And The Vice President On The American Recovery And Reinvestment Act," 4/13/09)

• REALITY: Recently Distributed Stimulus Funds Going To Foreign Corporations Creating Jobs Overseas. "Nearly half of the $2.4 billion in federal grant money awarded Wednesday to stimulate the U.S. economy and boost the production of hybrid and electric vehicles went to six companies with ties to places as far away as Russia, China, South Korea and France. ... But because so few American companies have the necessary technology, much of the money will initially go toward manufacturing electric vehicle batteries overseas." (Jerry Seper, "Obama Sends Stimulus Aid To Foreign Firms," The Washington Times, 8/6/09)

Obama Promised Stimulus Would Have "Responsibility and Accountability." "'What I will need from [U.S. Mayors] is unprecedented responsibility and accountability on all of our parts,' Obama said. 'The American people are watching.'" (Michael D. Shear, "Obama To Watch Cities' Stimulus Spending," The Washington Post, 2/21/09)

• REALITY: GAO Says Transparency, Oversight Lacking When Keeping Track of Stimulus' Effectiveness. "The Government Accountability Office said in a report that increased transparency and better oversight is needed to track stimulus money being sent to state and local governments. -- 'Questions remained about how to count jobs and measure performance under Recovery Act-funded programs,' the report said." (Rich Edson and Joanna Ossinger, "GAO: More Transparency Needed To Track Stimulus Money," Fox Business, 7/7/09)

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