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Obama Stimulus – Failure Or Success?

Oh, how time flies when we are having fun. Did you realize that February 17 was the fourth anniversary of President Obama signing the highly touted $821 billion stimulus package that was funded by the tax dollars you and I had no choice in sending to Washington? A lot of promises were included with that stimulus, things like lower unemployment because of all the jobs Obama said the stimulus would either create or save. If this is what stimulus really looks like, I want no part of it. Here is what President Obama had to say at the signing ceremony in Denver.

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(Human Events) In his remarks at the signing, the president said, “But today does mark the beginning of the end — the beginning of what we need to do to create jobs for Americans scrambling in the wake of layoffs;the beginning of what we need to do to provide relief for families worried they won’t be able to pay next month’s bills; the beginning of the first steps to set our economy on a firmer foundation, paving the way to long-term growth and prosperity.”

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StimulusPresident Obama said the billions of dollars in extra spending would help save our country from high unemployment, job losses, and other perceived ills. He claimed the unemployment rate would not rise above 8% because of the spending, but we all know how that has worked out. As if government can really create jobs by spending billions of dollars we do not have. That has never worked in the past and it will not work in the future.

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The current unemployment rate in the United States is 7.9%. It has been over 8% for 43 months, but it was “adjusted” downward, just in time for the election. One thing is clear, the stimulus had little or no affect on the unemployment rate. Another thing that is clear is that jobs were not created as a result of the money we threw down a rat hole. Billions of dollars went to repay Obama supporters via government-backed loans to their companies. Many of those companies were green energy companies and many of them are no longer in business, as they went bankrupt shortly after being infused with stimulus dollars. Yes, the Obama administration did a bang-up job of picking the winners and losers. Obama’s campaign pals were the winners and the American taxpayer is the loser.

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Another thing is abundantly clear. Government is a very poor substitute for the private sector, when it comes to managing money. Republican Congressman Rep. Stephen J. Scalise (R-La.) described it best.

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“Time and time again President Obama’s radical big government proposals have left our nation deeper in debt and have resulted in a more sluggish economy,” he said.

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“Big government is the problem, not the solution.  In the wake of the stimulus, Americans have suffered through higher taxes, a weak jobs market, and the worst economic recovery seen since the Great Depression,” he said.

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The said thing is, many who still believe in the Obama stimulus declare there is one main reason the stimulus didn’t work as it was supposed to work. When faced with the facts of life about the stimulus, almost all of them will tell you we didn’t spend enough. Yeah, that’s what we need, to throw more good money down the rat hole of government intervention. Forgive me if I am not overly enthused about that theory.

About LD Jackson

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LD Jackson has written 2053 posts in this blog.

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Founder and author of the political and news commentary blog Political Realities. I have always loved to write, but never have I felt my writing was more important than in this present day. If I have changed one mind or impressed one American about the direction our country is headed, then I will consider my endeavors a success. I take the tag line on this blog very seriously. Above all else, in search of the truth.

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One Pingback/Trackback

  • ” “But today does mark the beginning of the end …”

    He got that part right, didn’t he?

  • Judging by the increased debt and lackluster economy as well as 4 years of economic analysis, I think we can say “FAIL.”

    • And yet, all we can hear from the left is how the stimulus didn’t work well because we didn’t spend enough money on it. Such ignorance is astounding.

  • Romney said it best during one of the debate when he said something along the lines of the government shouldn’t pick winners and losers, but you pick losers. If only the American people were listening to him.

    • Romney was blasted for making comments like that, but it turns out, he knew what he was talking about. But, you’ll never hear that from the liberal media.

  • Mike

    It’s really difficult to evaluate the impact of any single program on an incredibly global, diverse economy. Did the Bush tax cuts help or hurt the economy? How can you tell? The economy surely suffered but there was 9/11, economic stress, wars, prescription drug expansion, deep recession, etc. Would things have been better or worse without the tax cuts? Ditto for Obama’s stimulus. It’s convenient to make the argument that they failed but what would our economy look like today without them? I really don’t know and neither does anybody else. That decision, like the Bush tax cuts, was the best effort of economic AND political advisors of what would best stimulate the economy. It’s easy to second guess them both.

    As to the comments from Rep Scalise I’d note that, to the best of my knowledge, prior to Jan 1, 2013 the only change in taxes that Americans faced was a 50% CUT in their payroll tax. That ended this year, as well it should, and very very few Americans will face any tax hike under the new law. As to whether this is the worst economic recovery since the Depression — it’s a good sound bite but it’s true only if measured in terms of job growth…and yes that is EXTREMELY important. But business is generally doing quite well and the stock market is at all time highs. The business community is largely bullish — of course that doesn’t make them right. To be continued…

    • Yes, the stock market is at all time highs, but that doesn’t necessarily mean good things for a lot of people. The stock market has been known to become disconnected from the real economy and there are many people who believe that is exactly what we are seeing on Wall Street now.

      It isn’t second guessing them when all we can see is continued high unemployment, higher taxes, and greater debt for our country. I can’t see how that could be viewed as anything less than a complete and total failure.

  • Pingback: Obama Stimulus Could Boost Chinese Economy()