In February 2009, President Obama signed into law the American Recovery and Reinvestment Act, or Stimulus Bill. The $787 billion spending package was sold to the public as the necessary means to revive an economy on the verge of collapse, create millions of new jobs, and keep unemployment from rising above eight percent.
More than three years later, national unemployment is still at 8.2%, unemployment in Nassau and Suffolk Counties is at 7.1%, and according to the annual Long Island Economic Survey and Opinion Poll, 61% of Long Island respondents think we are headed for a double dip recession.
Congressman Steve Israel voted for the stimulus bill, and in a press release dated February 22, 2009 stated of its passing: “With our local businesses, research institutions, and governments leading the way, we can create thousands of new green jobs.”
According to the Federal Government website Recovery.gov, just over $430 million stimulus dollars were spent in the district, but only 181 jobs were created. The town of Dix Hills alone, where Congressman Israel lived at the time, received more than $25 million stimulus dollars, but only four jobs were created. The economically disadvantaged community of Brentwood received $28 million and zero jobs were created. Hauppauge, home to a large industrial base and Congressman Israel’s office, received over $35 million with five jobs created.
These numbers are downright scandalous. Long Islanders were promised by President Obama and Congressman Israel that the Stimulus Bill would revitalize the local economy, and put people back to work. Sadly, millions of dollars were spent, with no meaningful improvement in the lives of our citizens. The people of Long Island deserve an explanation from their elected Representative in Congress as to where these “thousands of new green jobs” went.
Pumping money into big government spending programs has not and will not solve our economic woes. Look no further than the failure of the stimulus to live up to its many promises as evidence of this. What we need is private sector stimulus to increase domestic investment and create high-quality jobs.
As your Congressman, I will spend my first 100 days in office introducing legislation that will incentivize private sector stimulus in the United States. For years, businesses have been stockpiling profits to the tune of $1.3 trillion in foreign countries to avoid the crippling tax rates of the United States.
It’s time to bring that money back home by offering a one time tax holiday to corporations that repatriate offshore funds. In addition, I propose lowering the corporate tax rate so businesses will be encouraged to invest their profits in the United States and not seek offshore tax havens.
We tried the Obama/Israel economic stimulus plan in 2009. All we got was wasteful spending, and limited job creation. It’s time to shift course, and give the private sector incentives, which will generate growth and create jobs.
Local govts grabbed the "stimulus" money and funded their operations, but this was a temporary fix. On the fedl level, social security (pensions for all) and medicare are choking the budget. We're living longer, and need extraordinary medical care in the last year of our lives. This huge pension problem (promises that cannot be kept) is not a political issue; it's a harsh economic reality that faces all of us. China will not continue to fund our overly generous promises to all the retirees; at some point our govt bonds will lose their luster. Raising taxes will not help, because most people are already tapped out.
Punto Final.
You seem to get around!!
If yes, vote for Barry, if no vote for Romney
We've got Long Island's Bonehead calling someone else "meathead". Of course, we could play further derivative games. Were you better off during the Clinton 8 years (wasn't he a Democrat?) or during the Bush 8 years (wasn't he a Republican?), but those comments are as meaningless as the above remarks about Obama and Romney. Why couldn't Tim Pawlenty have run? Oh yeah, the right wing lunatics would have made that impossible for someone with integrity, so we ended up with Romney, who will take position A today, and tomorrow take position Z, and we'll never know what he stands for. At least we can look forward to Chris Christie, or Jeb Bush, or Tim Pawlenty in 2012.
Sure, let's force everyone onto the old US medical system of "if you got the extra cash, then you get the medical care", if not, then too bad, but somebody will pray for you. Sure, let's pretend that one Congressman can fill the empty stores, and can lower unemployment, and can cure cancer and heart disease and every other ill of mankind. It's all pure BS, and all Labate wants is for you to vote for him, instead of Steve Israel, and pretend that he and his fellow Republicans will instantly turn around the economy (but that could only happen if they decided to stop impeding every major proposal of the current Administration, since they created the gridlock which has made full recovery impossible). When Mr Labate condemns those Members of Congress of his own political party who are also part of the Tea Party movement, then we might be able to take seriously some of the pious claptrap that he has been spewing on this site. For my part, I'll be happy when this election is over so that we don't have to listen to him, or Steve Israel, trying to manipulate us.
"As your Congressman, I will spend my first 100 days in office introducing legislation that will incentivize private sector stimulus in the United States. For years, businesses have been stockpiling profits to the tune of $1.3 trillion in foreign countries to avoid the crippling tax rates of the United States. It’s time to bring that money back home by offering a one time tax holiday to corporations that repatriate offshore funds. In addition, I propose lowering the corporate tax rate so businesses will be encouraged to invest their profits in the United States and not seek offshore tax havens. We tried the Obama/Israel economic stimulus plan in 2009. All we got was wasteful spending, and limited job creation. It’s time to shift course, and give the private sector incentives, which will generate growth and create jobs. "
"Steve Labate will work us." No doubt. As they all do.
How do you think Jobs are created? Also, everyone that could not afford Healthcare had access to Medicaid, the same as all the illegals. I don't believe that anyone thinks 1 Congressman can "fill the empty stores, and can lower unemployment, and can cure cancer and heart disease and every other ill of mankind" as you stated, however, as part of a team....we can try.