Hatch on Two-Year Anniversary of Failed Stimulus, House Action to Cut Spending

WASHINGTON – On the two-year anniversary of the enactment of the failed near $1 trillion stimulus spending bill, U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, today praised House Republicans for taking action to cut spending and called on the Senate to follow suit. Hatch issued the following statement:

“Two years ago, the White House laid out an unaffordable, $1 trillion stimulus spending bill, claiming it would immediately jolt our ailing economy and stop our unemployment rate from topping 8 percent. Regrettably, after 21 consecutive months of unemployment at or above 9 percent, neither promise turned out to be true – all while spending and borrowing more than our nation can afford.

“Two years later, the American people have made clear they will no longer stand for more of a failed status quo like they witnessed with the President’s disappointing budget. They understand that the more Washington spends, taxes, and borrows, the less opportunity their children and grandchildren will have in the future. They want real leadership and prompt action from Washington to get our spending-fueled debt crisis under control with significant spending cuts. House Republicans have heeded to the will of the American people and advanced legislation to cut job-crushing spending by $100 billion. Unfortunately, Senate Democrats have not - choosing instead to embrace the President’s so-called spending freeze that will lock in the massive 24 percent spending increases instituted by this White House.

“If this White House is serious about getting our fiscal house in order and addressing the economic challenges of today, it’s time to lead – as our nation rightly expects of our chief executive to do. It’s time to dramatically slash spending and start a dialogue about how to fix our broken, unsustainable entitlements whose future was made worse by the $2.6 trillion health spending bill.”

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