Failed President Alert: Economists Say Stimulus Did NOT Help

You wouldn’t mind if I took $862 billion dollars of your money – actually $3.27 TRILLION if truth be told – and totally pissed it away, would you?

No, you don’t mind?  Good.  That’s a relief.  I mean, a lot of people would be a little upset that I’d bankrupted the country and ended up with absolutely nothing to show for it.

Obama, the White House, and the Democrats told massive and outrageous lie after massive outrageous lie to sell their load of porkulus crap.  But the American people didn’t believe it: a poll by the New York Times and CBS revealed that only 6% of Americans believed that the Obama stimulus created any jobs at all.

And now the economists are figuring out what the people understood all along:

Economists: The stimulus didn’t help
By Hibah Yousuf, staff reporterApril 26, 2010: 3:56 AM ET

NEW YORK (CNNMoney.com) — The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years — but a majority of respondents felt the fiscal stimulus had no impact.

NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House’s Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year.

That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won’t affect payrolls, while 30% expect it to boost hiring “moderately.”

But the economists see conditions improving. More than half of respondents — 57% — say industrial demand is rising, while just 6% see it declining. A growing number also said their firms are increasing spending and profit margins are widening.

Nearly a quarter of those surveyed forecast that gross domestic product, the broadest measure of economic activity, will grow more than 3% in 2010, and 70% of NABE’s respondents expect it to grow more than 2%.

Still, the survey suggested that tight lending conditions remain a concern. Almost half of those polled said the credit crunch hurts their business. To top of page

The Democrat argument is that the economy is doing better; ergo sum the stimulus worked.  The problem is that that’s rather like saying that the economy is doing better; ergo sum the fact that I had a good bowel movement worked.  There’s simply no reason to correlate the one thing with the other.

I would also ask this: name the recession that lasted forever.  The closest we can come is the Great Depression under FDR.  His failed policies prolonged the depression and a lot of needless suffering for seven years.

The other thing I would say is that we are by no means out of the recession that we are in.  There is still abundant evidence to believe that we may very well be headed into a double dip recessionwith Obama’s failed policies being completely responsible for that second dip.

Long term, I believe that Obama has doomed this country.  If we can’t undo the damage caused by his ObamaCare boondoggle before it begins to seriously take effect, I think it will amount to the anvil that broke the camel’s back.  And even if we CAN undo ObamaCare, the massive debt this president has imposed on us due to his now demonstrably failed policies will be like a cancer that will eat away at our way of life.

It is possible that there may be a jobless recovery.  But Obama slit the hamstrings of the recovery we COULD have had when he pissed away what will ultimately cost us more than three trillion dollars.  That money – which didn’t create any jobs – is going to consume jobs by way of opportunity costs.  Businesses COULD have used that money to grow and hire; but instead Obama seized it, and poured it down the drain.  And now we get to experience the joys of the gift that keeps on giving as we pay billions of dollars in interest payments, which is money that again COULD have been used to create jobs but never will.

Whether the economy looks a little better or a lot worse than it did, we will not even possibly be able to grow under the massive debt load that Obama has forced upon us with his massively failed stimulus.

We need to hold him accountable for his failure, or he will continue to stockpile one disaster on top of another.

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2 Responses to “Failed President Alert: Economists Say Stimulus Did NOT Help”

  1. Spirit Leveller Says:

    “And even if we CAN undo ObamaCare, the massive debt this president has imposed on us due to his now demonstrably failed policies will be like a cancer that will eat away at our way of life”.

    Don’t make me laugh! Why don’t you tell your readers that George Bush (a Christian hypocrite in your own mold) TRIPLED the national debt in seven years to pay for the illegal, commerce-driven invasion of Iraq, whilst simultaneously claiming that Egypt and Saudi Arabia were part of the ‘coalition of the willing’, even though they supplied the vast majority of the September 11 bombers?

  2. Michael Eden Says:

    Good grief, you really are ignorant, aren’t you. First of all, I notice that you are an anti-Christian bigot. You would be ashamed, if your shriveled little soul had that capacity.

    Secondly, the difference between the massive Obama deficits and anything Bush came up with is a twisted joke.

    From the Wall Street Journal:

    Mr. Obama cannot dismiss critics by pointing to President George W. Bush’s decision to run $2.9 trillion in deficits while fighting two wars and dealing with 9/11 and Katrina. Mr. Obama will surpass Mr. Bush’s eight-year total in his first 20 months and 11 days in office, adding $3.2 trillion to the national debt. If America “cannot and will not sustain” deficits like Mr. Bush’s, as Mr. Obama said during the campaign, how can Mr. Obama sustain the geometrically larger ones he’s flogging?

    Click on this link and see the difference between Bush’s and Obama’s deficit in one scary picture and try to sustain your ludicrous fool argument.

    USA Today said:

    WASHINGTON — This is change, whether you believe in it or not. And not just pocket change.

    Following through on many of his campaign promises, President Obama wants to spend about $3.6 trillion next year to pull the nation out of recession and begin major new initiatives in health care, energy and education.

    All that and more is contained in a 134-page budget request for 2010 and beyond that is unprecedented in size, breathtaking in scope and sure to have a major impact on millions of Americans — if he can get much of it through Congress.

    And, yeah, unprecedented compared anything Bush even DREAMED of. Another picture.

    So I hope you don’t mind if I simply mock you as an imbecile.

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