At times I feel like we are becoming a broken record when it comes to reporting on the total, complete, and epic failure of President Obama’s so-called "Stimulus" package. Let us not forget that in January President Obama said his ‘stimulus’ would "create or save" 2.5 million jobs. And then he would create 4.1 million jobs by 2010. According to the President’s plan – the benchmarks he set himself – unemployment now should be significantly below 8%.
Since its enactment, countless billions of our taxpayer dollars have been paid out, Federal Government debt is at record levels, every child born today is mired in thousands of dollars of debt … for nothing.
The -predicatable – result? In September an additional 263,000 jobs were lost, bringing the total number of unemployed to 15.1 million, and the unemployment rate rose to 9.8%.
Without rubbing it in too much: we told you so! As wenoted previously, all historical comparisons demonstrate that "stimulus" spending completely, totally and utterly fails. Every analysis of stimulus packages this year from the US and from around the world show they fail.
Two weeks ago Vice-President Biden said about the Stimulus package: “In my wildest dreams, I never thought it would work this well". Tell that to the millions out of work because of President Obama’s blind allegiance to the failed big policies of the past.
Stimulus spending has failed, is failing, and will fail. It’s as simple as that.