Armey Speaks to House Committee on Oversight and Government Reform
Click for the PDF of the testimony.
Today, Former House Majority Leader Dick Armey testified in front of the House Committee on Oversight and Government Reform, speaking of the failure of President Obama's stimulus plan.
From the press release:
Washington, DC - Former House Majority Leader and FreedomWorks Chairman Dick Armey will testify as the minority witness before the House Committee on Oversight and Government Reform this morning.
The hearing will review the “Recovery Act” and the failed stimulus program as unemployment surges past ten percent. When the stimulus was rushed through in February, the administration predicted the unemployment rate would peak at just under 8 percent in 2009.
Based on the unemployment numbers, the stimulus failed and our children will be saddled with catastrophic levels of debt. Chairman Armey is saddened that the economic legacy we are leaving our children is higher taxes and morbid rates of economic growth caused by tens of trillions of dollars in debt and unfunded liabilities.
The latest scandal regarding the stimulus funds and the lack of, well, real districts in which our money is being spent. The story saw it's first rumblings on the blogosphere Monday morning, and was eventually blown open by ABC.
Not that anyone should be surprised. There were no controls set up, and no way to enforce the soft regulations that were put in place.
From Congressman Armey's testimony
According to the government website set up to track stimulus funds—Recovery.gov—stimulus spending is directly responsible for “saving or creating” 640,329. Shortly after this figure was announced, however, it came under intense scrutiny. ABC News uncovered some misleading figures. Of the money spent to “save or create” new jobs, Recovery.gov reports:
· $761,420 was spent to create or save 30 jobs in Arizona’s 15th district
· $34 million was spent in Arizona's 86th congressional district in a project for the Navajo Housing authority
· $0 were spent in Connecticut's 42nd district but 25 jobs were created
· $8.4 million was spent in the 99th congressional district of the U.S. Virgin Islands to create 40.3 jobs.
· $1.5 million spent in the 69th district and $35 million in the 99th district of the Northern Mariana Islands with .3 jobs created and 142 jobs created respectively.
· $47.7 million spent in Puerto Rico's 99th congressional district to create 291 jobs.
According to ABC News, “none of these districts actually exist.”
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