Evaluating the Stimulus effect
Monday, July 13th, 2009Our Dear Leader and his democrat cronies are backpedaling and trying to lower expectations on their massive porkulus program funded by skyrocketing massive federal debt.
The fact that the pork ladened democrat driven stimulus bill is not stimulating the economy or creating jobs shouldn’t be a surprised.
Harvard economics professor Greg Mankiw pointed out back in January that almost two thirds of the stimulus money is not scheduled to be spent until after 2010. For Americans suffering under the Obama Economy, that is not good news. It is clearly designed to delay economic benefit until the beginning of the 2012 election cycle.
It isn’t helping the economy now, because only 8% of the one trillion dollar porkulus program is scheduled to be spent in 2009! We are now learning that the money is being spent much more slowly than planned, and appears to be directly funded to areas and organizations that were strong supporters of our Dear Leader. Yup, hardly surprising that there is more than whiff of corruption associated with the democrats porkulus program.
It’s interesting to look back at what the Congressional Budget Office had to say about the economy back in February. They projected an unemployment peak of 9.2% hitting in early 2010. That was if the federal government kept its mitts off the economy. Given the liberal democrat meddling, we hit 9.5% at least six months early. The CBO predicted that the economy would be on the mend by late 2009. So it is clear that our Dear Leader‘s meddling has made things worse for the American people.
The important thing to remember is that Obama’s goal is not to fix the economy, but to fundamentally change the role of government in the United States of America.
Update: Keith Hennessey has an excellent fisking of our Dear Leader’s statement on the economy.
Tags: Barack Obama, democrat, economy, incompetent, Obama economy, Politics, Worst President Ever