Three years ago, newly elected President Obama sat down with Matt Lauer of “The TODAY Show” to discuss the American Jobs and Recovery Act – the “stimulus” bill. The bill, if successful, would spend $1.2 trillion dollars in order to jumpstart our sluggish economy and “save or create 3.5 million” American jobs. Though thousands of Americans were optimistic about the bill’s ability to create a better future for America, Mr. Lauer decided to ask the President that morning what would happen should the bill fail to restart the economy. Interestingly, the President responded that if the bill failed and the economy hadn’t turned around in three years, that he would face “a one-term proposition” as president.

Today, three years to the date since he signed the stimulus bill into law, the American Jobs and Recovery Act has proven to be a miserable failure of a program. In fact, the millions and millions of dollars the Obama administration has spent to restart the economy has yielded none of the results the President promised us. For instance, instead of saving or creating 3.5 million jobs, over 1 million jobs have been lost in the last three years, leaving us with a current unemployment rate of 8.3 percent. Many Americans have even stopped looking for a job; the percentage of Americans looking for work is the lowest it’s been in 30 years.

America’s unemployment reality is not the only bleak situation, unfortunately. Since the President came into office, more Americans have gone on food stamps than ever before in our nation’s history. Our debt has increased by nearly $5 trillion dollars and will be more than $16 trillion dollars at the end of the year, which exceeds our GDP.

This is clearly not the “hope” and “change” that America had expected under an Obama administration. I’m pleased that three years ago, I was able to stand unanimously with my Republican colleagues in voting against the President’s stimulus plan because we are still feeling its dire effects.

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