Tag Archives: stimulus

Thou Shalt Not Have Strange gods…

Eleven million taxpayer-funded dollars.  Supposedly to help 400 people in Detroit find jobs.  Even if every one of those 4o0 people found a job, that would be $27,500 in taxpayer money spent, per job.  Ludicrous enough, no?

Well, what if only TWO (2) of those 400 people found jobs?

A chunk of an $11 million stimulus grant meant to provide low-income Detroit residents with clothing for job interviews reportedly aided just two people — far short of the 400 job-seekers the money was meant to help.

The findings were part of a new audit on the city’s Department of Human Services, according to The Detroit News.

That, my friends, comes to a cost of $5.5 MILLION dollars.  Per job.  Nice return on investment there, Barry.
Fast forward to yesterday (emphases added):

In the wake of lobbying by President Obama and Senate Democratic leaders, the Senate Thursday defeated legislation to speed up construction of a U-S.-Canadian oil pipeline.The White House victory came after the president started personally calling Democratic senators Wednesday night. The vote underscored the extent to which rising gas prices and energy supply have become a central political issue.

So, to Barack Obama, a stimulus program that costs taxpayers hundreds of millions, and which is a failure by any clear-thinking person’s standards is hailed as a success; while killing a program that creates at least 25,000 jobs, all without a dime of taxpayer money, is somehow considered a ‘victory.’

To Barack Hussein Obama, nothing can be successful; nothing can be true and real unless it is a direct machination of government. No matter how big the failure a government program is, it is still a success, because to a statist like Obama, nothing is possible, nothing is real unless it has its underpinnings in government.

To Obama, Government is reality. The government is the source of all that is good and just in the world.  The private sector is what is contrived. To Obama, the private sector is an anomaly; an abomination that must be controlled so as not to infringe upon the government’s influence in people’s lives. The god of Government is a jealous god. Thou shalt not have strange Gods before it.  Even religion itself takes a back seat to Obama’s real religion.

(image credit here)

After all, in order to appease the god of Government and to gain its good graces, one must certainly give alms:

More than half of Obama’s 47 biggest fundraisers, those who collected at least $500,000 for his campaign, have been given administration jobs. Nine more have been appointed to presidential boards and committees.

At least 24 Obama bundlers were given posts as foreign ambassadors, including in Finland, Australia, Portugal and Luxembourg. Among them is Don Beyer, a former Virginia lieutenant governor who serves as ambassador to Switzerland and Liechtenstein.

….

Obama has appointed 59 ambassadors who were not career Foreign Service officers, and of those, 40 percent were bundlers.

Welcome to the church of Obama.

God help its heretics.

Obamunism! Worst Recovery, Ever

From Investors Business Daily:

…By consensus, the most recent recession ended in June 2009, less than six months after Obama took office.

According to the NBER, in the 60 years prior to Obama’s tenure, we had 10 recessions.  In the two years following those respective recessions, average real (inflation-adjusted) quarterly GDP growth was 5%, according to federal government figures. In the two years of Obama’s “recovery,” average real quarterly GDP growth has been just 2.4%, less than half of the historical norm coming out of a recession…

And, honestly, if you take out the bogus effects of money-printing, we’ve probably had little or no real growth.  Obama’s economic policies didn’t get us out of the recession (his policies could not have taken effect quickly enough) but they have ensured that the recovery, such as it was, failed to deliver the necessary growth to restore American prosperity.

And now Obama is proposing more of the same – the news has it that Obama will propose a $300 billion jobs plan, most of which amounts to extending various tax credit already enacted…while, of course, tacking on a few more “shovel ready” jobs (watch the speech – Obama will not say the word “stimulus” nor the phrase “shovel ready”; they have been banned from Democrat talking points…because they failed and Democrats don’t want to admit it).  The GOP will have to respond in some manner so that we’re not tagged as “anti-job”, but whatever it is Obama wants will have to be offset by spending reductions elsewhere.  For the most part, though, I don’t think that the people will care what Obama says…especially as he’ll say nothing new.

2012 can’t get here fast enough…

Obamunism! $4 Trillion in New Debt

From CBS News:

The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch

The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion

It’s the most rapid increase in the debt under any U.S. president.

The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama’s four-year term…

Obama has been President for 2 years, 7 months and 3 days…I calculate this works out to about $4 billion dollars in new debt each day Obama has been in office.  That is just an incredible figure – and made worse by the fact that all we’ve got for it is money for liberal interest groups.  No real economic growth, no real jobs, no real wealth creation.  Its all been a bust – and a bankrupting bust, in to the bargain.

So, what is the new plan, liberals?  Start piling up $8 billion in debt per day?  Would that work?  You tell us…how much further in to debt do we need to go in order to make liberal economic policy works?  And can you give us a date certain while we’re borrowing that much where we’ll be done and prosperity will result?

2012 can’t get here fast enough…

Mmmmm, Toasted Obama: My Favorite!

From James Pethokoukis at Reuters in response to Goldman Sachs lowering GDP projections:

…Alarms bells must be ringing all over Obamaland today. Unemployment on Election Day about where it is right now? Sputtering — if not stalling — economic growth? To many Americans that would sound like the car is back in the ditch — if it was ever out. Maybe Goldman is wrong, but economists across Wall Street have been growing more bearish.

And recall that back in August of 2009, the White House — after having a half year to view the economy and its $800 billion stimulus response — made an astoundingly optimistic (PDF) forecast. Starting in 2011, with Obamanomics fully in gear and the recession over, growth would take off. GDP would rise 4.3 percent in 2011, followed by … 4.3 percent growth in 2012 and 2013, too!  And 2014? Another year of 4.0 percent growth. Off to the races, America…

Do take a look at that “astoundingly optimistic” White House forecast – as far as Obama and Co were concerned, the stimulus was going to get us rip roaring in to boom economic times.  It is all there – carefully laid our projections about how wonderful things were going to be.  I can only guess that they really believed it – after all, they were being rather arrogant in their assumptions of 2012 victory back there when questions first arose about the effects of the stimulus.  Only people who really believed in it could have looked at the 2010 data and assumed that 2011 would have 4.3% GDP growth (if we’re lucky – very lucky – we’ll see official growth at 2.5% for the year 2011; which is not nearly enough to get things rolling).  The big question:  do they still believe it?

As Pethokoukis notes at the end of his article, there is still a very short time left for Obama to change course and have a chance at a reasonably good economy for election day, 2012.  But I mean he’d really have to move fast – in the next few weeks we’d have to see serious proposals to cut the tax and regulatory burden on wealth creation for it to have a noticeable positive effect by election day.  Wait until the end of August and it will be too late – the good news would start to roll in around January of 2013, just as we’re swearing in President Bachmann.  But if they are still retaining their faith in the stimulus, then they’ll do nothing and just cross there fingers that some how, some way, what has thus-far failed will start to work in an astounding manner over the next 15 months.

And if that is the case, then the good news is that Obama won’t be re-elected – the bad news is that the economy will be very much worse before we get rid of him.