Monday, July 13, 2009
Obama Rewrites Stimulus Effectivity;
It's The Economy, Stupid!
Pbamanomics: An economic principle, derived from Marxism, whereby various and several government policies are designed and implemented solely to thwart and suppress an emerging and developing free market form of capitalism and free trade.
In his Saturday radio address, Barack Hussein Obama, Junior said the stimulus bill is a success and that it will take over two years for it to work. WSJ:
... facing mounting criticism of the $787 billion stimulus package, [Obama] devoted his weekly radio address to touting the successes of the plan and suggested it had to be given more time to show results.
"The Recovery Act was not designed to work in four months – it was designed to work over two years," Mr. Obama said, after telling listeners that the plan hadn't been intended "to restore the economy to full health on its own, but to provide the boost necessary to stop the free fall."
He concentrated in his remarks on the billions of dollars from a taxpayer-funded plan that will be disbursed this summer, although much what he was described was already in the works, spurring new debate about just how much the $787 billion stimulus package is helping.
"We've done more than ever, faster than ever ... to get the gears of the economy moving again," Obama said. Based on the work done across a broad spectrum of federal agencies during the first 100 days of the administration, the president said, "we're in a position to really accelerate."
On May 27, Obama again said the stimulus is beginning to work. Market Watch:
President Barack Obama on Wednesday marked 100 days since signing his $787 billion economic stimulus package, saying it's created or saved more than 150,000 jobs and unveiling funding for two energy projects.
Here's what Obama said this past January about his then planned stimulus. Chicago Tribune:
"It's clear that we have to act and we have to act now to address this crisis and break the momentum of the recession, or the next few years could be dramatically worse," Obama said.
"There is a happy convergence between what I had pledged during the campaign and what's required for the economy, right now, to put more money into the pockets of ordinary Americans," Obama told reporters.
In January he said it was urgent, we had to rush the legislation through, in order to prevent an immediate catastrophe. Well, if that's true, then why has only eleven percent of stimupork money been released? If we're going to avoid a catastrophe, shouldn't fifty, maybe seventy, percent of the stimulus be flooding the market? It's not. Huh, I guess January was just Obama playing The Financial Fear and Gloom and Doom Cards.
Has he put more money into the pockets of ordinary Americans? No. But he has put money into his Wall Street cronies and he's managed to payback his Blue States, who are fairing much better than the Red States.
Vice President Joe Biden, who said [the stimulus] "shows early progress providing immediate financial relief for American families and jump-starting billions of dollars in job-creating projects." In a press release, Biden claimed the stimulus has so far "created or saved" 150,000 jobs, and that "over 3,000 transportation construction projects have been funded in 52 states and territories."
You don't have to look too hard to find problems with Biden's work. First, nobody seems to know precisely where the figure of 150,000 jobs comes from. When President Obama used it in a speech on April 29, the website FactCheck.org pretty much demolished the claim. Previewing the Biden report on May 11, a "senior administration official" held a conference-call briefing with reporters and seemed unprepared when asked where the created-or-saved jobs actually are. "In terms of exactly where and in what sectors, that's not something I have numbers on," the official said, "because, precisely, we don't yet have any of the reporting."
As far as the 3,000 transportation construction projects are concerned, there are certainly some under way, but nobody seems able to confirm a number so large. "I'll buy lunch for the first person who can get a list of those transportation projects," one Senate Republican aide told me. "That's absolutely not true."
The real news about the stimulus is buried inside the Biden report. It says that as of May 5, $88 billion has been "obligated" for spending. "Obligated" is federalese for money that has been committed but not yet spent. A much smaller number, $28.5 billion, has actually been shoved out the door -- that is, $28.5 billion out of the stimulus total of $787 billion has so far been spent.
And where did it go? More than 95 percent has ended up in just two places: the Department of Health and Human Services and the Department of Labor.
In May, Obama said we're seeing results from the stimulus. CBS News:
The president argued that the bill "has helped to fuel demand that is helping businesses put more Americans back to work" and said it has already saved or created nearly 150,000 jobs.
...the president said the stimulus package was "designed not only to revive the economy in the short term, but to rebuild the economy over the long term."
And the short term revival...where is it? Does anybody know? Is it all those shovel-ready jobs The Libs lied about, because I don't see anything going on. Oh, some bike trail somewhere is being repaved. I heard this on the news. I guess that must be one of those shovel-ready jobs. I bet Wall Street will wake up now, like it received a shot of Viagra, after hearing that a bike path was repaved. Yep. Real jobs for Americans with good wages. Bike paths. Green jobs. The new economy.
Obama has created a total of 25 jobs, in law enforcement, in Columbus, Ohio. And they are not permanent jobs. He has a long, long, long way to go in making up for a couple of million lost jobs that occurred under his watch and are most definitely not part of the Bush economy.
Pbamanomics. Trickle Up. Trickle Down? Trickle Sideways? At a Slant, perhaps? Trickle in a Zig Zag line? Trickle Circular? I bet that's it! It's working great, isn't it?
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