The Buzz

Boehner: 5 years ago TODAY, the stimulus bill was signed into law...and it hasn’t worked

On the fifth anniversary of President Barack Obama signing the stimulus bill, House Speaker John Boehner today ripped the measure as having had little impact on the economy.

“Five years and hundreds of billions of dollars later, millions of families are still asking, ‘Where are the jobs?’” Boehner said in a statement.

“More Americans are living at or below the poverty line. Median household incomes are down. Prices on everything from gas to groceries are higher. A new normal of slow growth has set in, with most now saying the worst is yet to come. And to think that the White House said the stimulus would make things better `almost immediately.’”

Is Boehner right? Three years ago, a Washington Post blogger

checked out nine studies

that had looked at the stimulus’ impact and came to this conclusion:

“Six find that the stimulus had a significant, positive effect on employment and growth, and three find that the effect was either quite small or impossible to detect.”

For another view,

go here.

Of course, others, including The New York Times’ Paul Krugman, have long maintained that the stimulus should have been bigger.

Boehner didn’t mention any studies today.

“Rather than push for solutions to get us back on track, the president seems content serving up slogans and photo-ops,” he said. “We should set our sights higher, and aim to restore America as a nation of builders. Whether it’s improving job training, building the Keystone pipeline, or expanding markets for American exports, there are a number of areas ripe for bipartisan action.

“We sent the president a letter after the State of the Union outlining areas of common ground, and we await his reply. In the meantime, the House will continue to listen to the American people and focus on passing good jobs bills that promote growth and opportunity.”