Honestly, can we please get this administration to stop beating this extremely dead horse? According to a Rueters.com on Wednesday, President Barrack Obama (again) is claiming to have "saved" or "created" 2 million jobs with his porkulous package. He also claimed that it saved us from going into another great depression. I cannot get over how much these people must think of themselves to continue to make these kind of outlandish statements. They have no clue how many jobs they saved or created through the stimulus, because there is no way to know what would have happened without it. A year ago, this administration was saying that the economy was not as bad as they thought. They quickly revised those statements when the stimulus not only failed its stated outcomes, but made the problems far worse then they were. Now, they go back to the old standard bearer - Blame Bush.
Excerpt from Rueters:
Obama launched a sweeping effort to convince skeptical Americans that the stimulus has been beneficial, saying it had created or saved 2 million jobs and attacking Republican critics who doubt its effectiveness.
Here’s the problem: The Congressional Budget Office says those numbers are crap. Every economist admits that calculating "Jobs Saved" is an impossible, and any concrete number is beyond speculation. It is an empty number with absolutely no meaning.
This administration treats the American people like they are morons. It’s easy to spend a trillion dollars and say: " See! Without the stimulus we wouldn’t have that job, or that art, or whatever." But there is a serious problem with that way of thinking. It’s a complete economic fallacy that the government just has money to spend. There are limited financial resources in America, and everything the government does is financed with the productive capital of the private sector. When they spend a trillion dollars, they are taking away a trillion dollars from the private sector. They take even more when borrowing the money because of interest payments on debt.
In these job reports, the Democrats act like the money in the stimulus was just sitting around, available for use but not in use. But it wasn’t. They took it away from the industries that are making money to support the industries that support them. All they did was direct our money to a new place. The jobs saved or created cannot be calculated because there is no way to know what that money would have done in the private market.
It is far more likely, that the stimulus has cost millions of jobs because the private sector is so much more efficient with capital, and much more successful at creating jobs. The fact that this administration continues to hold on to this phantom, “Jobs created and saved" mantra, is truly pathetic. It is an insult to every American, and embarrassment to the Office of the President.
What are we supposed to expect from this incompetent social worker next? Maybe he’ll start delivering sanctimonious speeches about fiscal frugality, and follow that up by authorizing $2 trillion in new borrowing? Oh wait, he just did that.
After he signed a law last week authorizing the U.S. Treasury to borrow an additional $1.9 trillion, President Barrack Obama delivered a characteristically sanctimonious speech. It was all about his deep commitment to frugality. Who does he think he is kidding?
"After a decade of profligacy, the American people are tired of politicians who talk the talk but don’t walk the walk when it comes to fiscal responsibility," he said. "It’s easy to get up in front of the cameras and rant against exploding deficits. What’s hard is actually getting deficits under control. But that’s what we must do. Like families across the country, we have to take responsibility for every dollar we spend."
Is he serious? Hearing these words from Obama is like listening to a morbidly obese person trying to teach a class on healthy living, while eating a bucket full of ho ho’s. To put Obama’s Olympian hypocrisy in perspective, one need only examine the federal budget tables posted on the White House website by Obama’s own Office of Management and Budget. It don’t look good.
Bottom line: Obama is either one of two things. He is either an Ideological scoundrel, or much more likely, an incompetent and inexperienced affirmative action President. Nothing he has done economically has been a success. Everything he has done has prevented new jobs and economic growth. He is not qualified for his position. If you don’t believe me, just look at the GDP. It grew last quarter! That’s right our economy grew. So technically speaking, the recession is over!
Meanwhile: the dollar fell, unemployment went up (nearing 20% in real unemployment) , foreclosures went up, housing prices went down, taxes went up, government employment went up, private sector employment went down, and government spending is at an all time high. So how did the economy grow?
That’s very simple. Almost all of the growth measured is from government spending, paid for with the stimulus. They admit this and even point it out as a positive thing. V.P. Joe Biden defended the stimulus with this very argument. But this is anything but good news. We are coming out of a 3 year recession. We should see large growth right now, especially in the private sector. But we aren’t. We are still shrinking, and the only way to maintain the growth we have seen is to continue spending the stimulus money every single year. It is impossible to maintain, and government will only get more inefficient with it.
Government spending is not growth. It is the retardation of growth. We are doing all the same things that Presidents Hubber and FDR did to extend the great depression. It is ridiculous that after all this time progressives still think these Keynesian theories work. They have failed in every measure every time they are used. They will fail again and we will pay the consequences of living in candyland while our economy hits the fan. But hey, at least while people continue to be laid-off they can bask in the security of Obama’s 2 million saved jobs.
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