Obama's economic policies have failed royally.
He and his Democrat comrades have brought misery on the nation.
The Obama presidency has been an utter disaster when it comes to the economy.
From the Weekly Standard:
When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.
The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.
Those numbers are stunning.
It's too kind to use "failure" to describe Obama's stimulus.
It has been an unmitigated bust.
2 comments:
If conservative Republicans had been in control, we would be in Great Depression II. Remember the Great Depression of 1929, which happened after 8 years of Republican deregulation and tax cuts for the rich? Republicans controlled the White House, Senate and House from 1929-1933. They claimed the economy would fix itself, just as they do so today. They did nothing, and the Crash of 1929 grew and grew and grew, until we had 25 percent unemployment. Thankfully, the Republicans were not in control this time. They would have done nothing, and Republican posters at The Hill would be begging the streets, their stomachs growling for sustenance.
If conservative Republicans were in control, we would be in dramatically better shape economically right now.
Post a Comment