Senate Minority Leader Mitch McConnell (R-KY) was in no mood to celebrate the five-year anniversary of President Barack Obama’s stimulus package on Monday.
“Five years later, the stimulus is no success to celebrate,” McConnell said, as quoted by the Associated Press. “It is a tragedy to lament.”
White House economic adviser Jason Furman wrote in a White House blog post that the stimulus, formally known as the American Recovery and Reinvestment Act, had by itself saved or created an average of 1.6 million jobs a year through the end of 2012.
But McConnell said Obama could better secure the nation’s finances by scaling back regulations and giving the green light to the Keystone XL pipeline project, according to the AP.