Stimulus Was A Bust

Money down the toilet

Didn’t take a brilliant economic strategist to know that the “Stimulus” Act of 2009 was going to do nothing to improve our economy:

Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

Jeffrey Anderson at The Weekly Standards reports how Obama’s plan to stimulate the economy is actually causing the economy to shed jobs. 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 only added to our debt.

The White House’s Council of Economic Advisors  (their web site states: “Laying the Foundation for Recovery & Growth”, cough, cough) wrote the report, 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”, the “stimulus” has added or saved just under 2.4 million jobs  at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.   

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

The “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now.  In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

Unemployment is up to 9.1% and our national debt is now over $14 TRILLION. That’s what we get for voting for “hopeandchange” instead of an actual experienced leader. I know it’s early, but I am officially counting down the days until the 2012 election (490).

DCG

5 responses to “Stimulus Was A Bust

  1. Gomer Pyle voice:

    Surprise, surprise, surprise!

    Like, who didn’t see this coming well before it even passed?

    -Dave

  2. Every one of the dirty bastar%#$ lined their pockets thats what. I’m looking forward to justice for each and every one of them,that’s a promise.

  3. I predict a coming double dip economic collapse that will make this one look like the prologue. All they did was print money and throw it around, no problems were solved, and some are deep routed. All this money will also come due and the only thing allowing us to print this money is the fact that the world uses US dollars as its reserve. Take warning, that is changing, some countries have already stopped dealing in US dollars and others are following, leaders are openly calling for a new global currency reserve. China which owns us is secretly dumping their US reserves, not by trading but by using them up to buy investments, real estate, etc… the future looks grim . The USA actually has the largest debt and lowest earning GDP to debt ratio on the planet. China is the best. Look out people, it’s gonna be a long hard fall, better start practicing your chinese. You ain’t seen nothing yet!

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