Myth Debunked: Obama Stimulus Failed

[Too Tall]

The only thing powerful enough to get us out of the Great Depression was the largest government spending project in history.

It was called WWII.

We could have made the bombs and dumped them into the ocean, but the stimulus would have functioned the same. It would have put people back to work, and those people would have spent money, and all this spending would have forced the capitalist to innovate and add jobs in order to capture that money.

The Right did not want the Obama stimulus to work. So they made sure that 1/4th of it was tax cuts; and then they proceeded to crush all his jobs bills.

The US needed a massive stimulus and the right made sure it never happened. And now they're repeating the mistakes of Europe: expansionary austerity.

The Democrats had large majorities in the House and the Senate when the stimulus bill was passed.

 

[Listening]

Stimulus prevented a depression and saved the auto and financial sectors

Not too shabby

Saved the auto industry. If GM had shut down all of their plants, a venture capitalist would have bought them and had the production lines back running in a week.

Only without the unions.

Which was not going to work in Obama's re-election math.

 

[P@triot]

Only 22% of American households say the economy is headed in the right direction, the lowest percentage since January, a Bloomberg survey finds.

 

[oreo]

Myth Debunked: Obama Stimulus Failed

4. Obama’s stimulus failed.

This has become a GOP talking point, repeated by everyone from John Boehner to Karl Rove to Romney. It isn’t true.

Objecting to various provisions of the stimulus or believing that it worsened the deficit isn’t the same as deeming it a failure. When the Obama administration was little more than a year old, three of the best-known economic research firms — IHS Global Insight, Macroeconomic Advisers and Moody’s Economy — all said the stimulus, which almost every Republican in Congress opposed, would create more than 2.5 million jobs. Last August, the nonpartisan Congressional Budget Office estimated that the stimulus package created between 1.4 and 4 million jobs. Even Mark Zandi, one of McCain’s economic advisers in 2008, has called the stimulus “a significant benefit to the economy’s performance.”

Five myths about Barack Obama - The Washington Post

Unemployment in June 2012 remains at 8.2%. In fact the measley 80 K jobs that were grown in the economy was replaced with 85k people going on social security disability in the same month. If we count the people that are no longer receiving unemployment benefits the real unemployment rate stands at 10.5%.

More workers joined the federal government's disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation's jobs picture is after three full years of economic recovery.

The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.

The disability ranks have outpaced job growth throughout President Obama's recovery.

3.1 Million Workers Join Disability Ranks Vs. 2.6 Million That Got Jobs In Obama Recovery - Investors.com

 

[Listening]

Only 22% of American households say the economy is headed in the right direction, the lowest percentage since January, a Bloomberg survey finds.

Of course that represents just the most insane on the left.

If Romney had any qualities worth getting excited about, this race would not even be close.