Remember the days when President Obama said his ‘stimulus’ would "create or save" 2.5 million jobs? And then when he upped the ante and promised he would create 4.1 million jobs by 2010?
So. According to the President’s plan – the benchmarks he set himself – unemployment in August should have been below 8%. How did this work out?
According to the Bureau of Labor Statistics, unemployment in August… wait for it… skyrocketed up to 9.7% – the highest it has been in 26 years!
How many times must we say "told you you"?
The so-called "stimulus" has been exposed as a lie. We have morgaged our future on a policy that has utterly, abysmally, failed in every respect.
As the Heritage Foundation noted, "Employers with profitable businesses, investing and creating wealth. The stimulus bill was a grab bag of traditional liberal priorities that did nothing to encourage private sector employers to invest or create jobs. If anything the stimulus discourages investment and job creation. The enormous increase in federal spending that President Obama has undertaken raise the prospects of vastly higher taxes or rapidly rising inflation."
If we are to have any hope of reversing this economic decline, we must change course before it is too late, and abandoned the failed and outdated ideologies of the past.
The only way forward is to free business from the shackles of government overregulation, cut taxes, and reduce the size of government.
Repeal the stimulus and return the money to the taxpayer before it is too late.