The Locker Room

Gingrich examines the impact of Obama's stimulus measures

Posted by Mitch Kokai at 08:21 AM

Newt Gingrich's latest column posted at Human Events looks at the numbers associated with the Obama administration's stimulus plan:

It has been 25 months since the Obama stimulus was signed into law.

During this time we have lost a net of 2.1 million jobs.

1.96 million of those jobs were in the private sector.

That’s why the uptick in the number of private sector jobs created in February is good news. It shows that businesses are hiring again and willing to invest in their companies.

This begs the question, though, what changed? After so many months of stagnation and job loss, what was it that sparked the private sector job creation?

Liberal Democrats aren’t going to like the answer.

The last significant economic policy enacted by President Obama was the extension of the 2001 and 2003 tax cuts through 2013. Finally, businesses and investors were given some tax certainty and knew they would have extra money for the next two years with which to create jobs.

President Obama is certainly entitled to share in the credit for passing this extension. But he should be asked a few follow-up questions.

If he’s willing to take credit for the job creation spurred by keeping taxes low, why does he want to raise taxes again in 2013? Why does he want to put small business owners and investors in the same position they were in throughout 2010 – facing a looming tax increase – in 2012? How will that help the recovery? And what does the success of keeping taxes low mean for the rest of his agenda?

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