[...] Cory Booker! Whatever would g...
Did White House threaten Cory Booker for criticizing Obama’s attack ad? « Full Metal Patriot on Obama threatens to withhold Social Security checks despite sufficient funds [UPDATED] Social Security Chief Actuary exposes Obama deception
Obama’s Miracle Snake Oil
Ring around the rosy, a pocket full of FAIL:
President Barack Obama’s $814 billion economic stimulus plan is meeting its targets for spending and job creation, White House officials said on Friday, however unpopular it may be with the public.
Seventy percent of the plan’s funds were paid out by Sept. 30, with $308 billion spent and $243 billion in tax breaks provided, they said, adding that every spending deadline Congress set for the funds was met on time or ahead of schedule, with little fraud or abuse.
Polls have shown the plan is unpopular with much of the public and has fallen short of expectations for the economy, even though the nonpartisan Congressional Budget Office estimates it boosted real gross domestic product in the second quarter by up to 4.5 percent and raised employment by up to 3.3 million jobs.
Jared Bernstein, chief economic adviser to Vice President Joe Biden, and former White House economist Christina Romer wrote a paper in early 2009 contending that the stimulus would cap the jobless rate at 8 percent.
With the unemployment rate at 9.6 percent in August and expected to have inched up to 9.7 percent in September — data will be released next week — that paper has given Republicans a powerful weapon to argue that the Recovery Act failed.
“The administration predicted that unemployment wouldn’t rise above 8 percent if the trillion-dollar stimulus became law,” Senate Republican Leader Mitch McConnell said.
“We know how that turned out: Unemployment, now at 9.6 percent, has hovered near double digits since the stimulus passed; we took on an additional trillion dollars in debt, and Americans’ confidence in the administration’s economic arguments never recovered.”
WORSE WITHOUT IT?
The administration contends that the nation would have been far worse without the plan, given the dire state of the U.S. economy when Obama took office in early 2009.
“No piece of legislation would have been capable of filling that hole,” White House spokesman Robert Gibbs said.
However, the concept has proven difficult to sell to the public, and Republicans in the House of Representatives recently vowed to cancel all unspent money from the economic stimulus plan.
Uh, yeah, I think this is exactly the kind of Democrat policy that has “proven difficult to sell to the public”:
Gov. Waste: Stimulus Money Went to Prisoners, Dead People
17,000 prison inmates received checks courtesy of the $800 billion stimulus package, notes the Associated Press. $18 million in checks went to dead people.
The stimulus also contained giveways to wealthy trial lawyers, who are some of the biggest donors to liberal politicians. It expanded welfare and largely repealed welfare reform. It has paid for abandoned bridges to nowhere and unnecessary government buildings in cities with rapidly shrinking populations.
The Obama administration claims the stimulus created or saved lots of jobs, but those jobs exist only in their imagination. The administration’s own web site showed tens of thousands of phantom stimulus jobs being created in 440 imaginary congressional districts.
As noted earlier, the stimulus package actually destroyed thousands of real world jobs by triggering trade wars that killed jobs in America’s export sector (for example, the stimulus package barred a measley 97 Mexican truckers from U.S. roads, a minor NAFTA violation that triggered massive Mexican retaliation against U.S. exports of 40 farm products and kitchen goods worth $2.4 billion). Unemployment rose rapidly after passage of the stimulus package.
Instead of repeatedly trying to sell us on his Hopenchange tax&spend crap sandwich, perhaps Chairman Zero could take a look at how extending the Bush Tax Cuts is infinitely less expensive than his failed Keynesian policies.
Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
[...] Obama’s Miracle Snake Oil [...]
I facepalmed pretty hard at this whole article.
When you’re ready to come back to reality, let us know.
[...] Republicans attempt to fix the financial mess created by rampant Democrat spending and imprudent “stimulus” [...]