Stimulator-in-Chief Strikes Again!

September 13, 2010 06:30

Obama’s “second stimulus” is actually his ninth. What has this bought us? Auto and home sales collapsed when these temporary rebates and credits expired. Meanwhile, Gross domestic product growth has sputtered to 1.6 percent. This economy has walking pneumonia.

by Deroy Murdock at Human Events


‘What about Obama’s previous magnum opus? In February 2009, he signed a $787 billion stimulus that has swelled to $814 billion. The Congressional Budget Office on August 24 estimated that this measure “created or saved” between 1.4 million and 3.3 million jobs while spending, so far, about 70 percent of this money. Assuming the rosiest scenario, these $570 billion created 3.3 million jobs at a stunning $172,727 each.’

‘Obama’s “Trains, Planes, and Automobiles” plan is not his “second stimulus,” as claimed by journalists who barely can count to three. After Bush’s first stimulus and his $700 billion TARP bailout, Obama followed his first stimulus with Cash for Clunkers ($2.85 billion), Cash for Caulkers ($5.7 billion), Home Buyer Tax Credits ($23.5 billion), mortgage assistance ($75 billion), up to 99 weeks of unemployment benefits ($34 billion), the Advanced Technology Vehicles Manufacturing program ($25 billion), and last month’s sop to government-school teachers and other public-sector-union members ($26 billion — “paid for” with phony offsets that “would be easiest for Congress to reverse later, such as Food Stamps,” explains Heritage Foundation budget analyst Brian Reidl.)’

‘Add Obama’s so-called “second stimulus,” and these nine stimuli total almost exactly $1 trillion.’


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