Colorado Springs, Colorado (CNN) – Hailing a metal engineering plant that received $2.3 million in stimulus funds as a small business success story, on Saturday Mitt Romney told an audience at the plant the federal recovery program "did not do the job."
Romney said the millions in federal funds granted to Springs Fabrication in Colorado Springs had not created any new jobs at the plant.
NEW YORK (CNNMoney) - Republican leaders in Congress have asked Federal Reserve Chairman Ben Bernanke to refrain from any further monetary stimulus during policy makers' two-day meeting ending Wednesday.
"Respectfully, we submit that the board should resist further extraordinary interventions in the U.S. economy, particularly without a clear articulation of the goals of such a policy, direction for success, ample data proving a case for economic action and quantifiable benefits to the American people," read a letter from Republican leaders and addressed to Bernanke.FULL STORY
NEW YORK (CNNMoney) - Now is the time for action.
That's the message the White House is bringing to Congress as lawmakers return to work this week.
In a major speech Thursday night, President Obama is expected to argue that the government must do more to spur job growth, investment and economic expansion.FULL STORY
Washington (CNN) - February 17th marks the two year anniversary of the stimulus package as well as the two year anniversary of politicians and political organizations using the measure as a political football.
Signed into law by President Obama in February 2009, the bill passed Congress with minimal Republican support. Democrats said it would encourage job creation and promote investment. Republicans criticized the original $787 billion price-tag and argued that it green lighted new spending instead of tax cuts. Thursday GOP groups continued their critique of the measure and President Obama.
Washington (CNN) - Republican Florida Gov. Rick Scott rejected $432 million in highly-touted funding from the Obama administration for an Orlando to Tampa high-speed rail Wednesday. Slamming government for becoming "addicted to spending," Scott listed three reasons why accepting the federal funds would amount to a "recipe for disaster."
In a statement, Scott said "I was elected to get Floridians back to work and to change the way government does business in our state."
(CNN) - In some post-election hardball between the Obama administration and newly-elected Republicans, Transportation Secretary Ray LaHood is threatening to take back stimulus funds from states if they do not follow through on proposed rail projects.
CNN obtained copies of letters LaHood sent to incoming Republican governors in Ohio and Wisconsin who have stated their opposition to rail projects already underway in their states. In the letters, LaHood said a rail link between Cleveland, Columbus, Dayton and Cincinnati in Ohio, and a high-speed rail connection between Chicago, Illinois, and Milwaukee, Wisconsin, are vital to economic growth in both regions.
New York (CNNMoney.com) - Did the federal stimulus plan work in fixing the economy?
That was the question confronting the Senate Budget Committee on Wednesday. The senators summoned some of the most renowned economists in the country to seek the answer - but they failed to find common ground.
The economists – Alan Blinder, co-director of the Center for Economic Policy Studies at Princeton University, Mark Zandi, chief economist of Moody's Analytics, and John Taylor, economics professor at Stanford University – took divergent views.
Washington (CNN) - Vice President Joe Biden heads to New Hampshire Thursday morning to tout what the White House calls a major milestone of the federal stimulus. Teaming up with Biden at the event in Manchester will be the state's two Democratic representatives, who both face challenges at the polls this November.
According to the White House, "Vice President Biden will visit the home of a Manchester, NH family where he'll announce a major Recovery Act milestone – the weatherizing of 200,000 homes under the Recovery Act."
The administration says that their goal is to weatherize nearly 600,000 homes by March 2012 under the Recovery Act, adding that "the Administration is investing about $90 billion through the Recovery Act in clean energy and energy-efficiency projects that cut costs, reduce energy use and create new jobs."
The stimulus was passed by Congress early last year mostly along party lines. Republicans criticize the measure for failing to create jobs and pump up the economy.