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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (87826)7/22/2010 2:39:15 PM
From: JakeStraw4 Recommendations  Read Replies (1) of 224754
 
Obama's Failing Presidency

The stimulus was supposed turn the economy around, limit unemployment to 8%, and prevent a deepening recession. It has accomplished nothing of the sort. The economy is effectively frozen, with business mesmerized by Obama's increasingly frenetic antics. Unemployment is officially above 10%, and in truth much higher. Though commentators keep insisting that we're not in for a double-dip recession, it's apparent to anyone with two eyes that the second slump actually kicked in at the end of Spring. The reasons for this aren't difficult for anybody apart from a government economist to work out. Much of the $860+ billion (simply trying to nail the exact number down is a chore in itself. I've found anything from $787 billion to $866 billion) was awarded to Obama's supporters in the financial industry and the unions, which automatically removed it from any productive use. The remnant was scattered across the country with no rational form of targeting, going to things like earmarks, environmental programs, and affirmative action projects. For all the effect it's had, that money may as well have been taken and tossed into the Marianas Trench. The sole thing that the stimulus succeeded in doing was to remove three-quarters of a trillion dollars from the working economy, where it could have been used for capitalization and hiring, and to pay down debts.
americanthinker.com
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