Obama's Stimulus Failure

[Sinatra]

The backlash against Obama and the Democrats regarding the near-trillion dollar special interest boondogle known as the Obama stimulus plan has been nothing short of an outright failure of policy that has done far more harm than good.

As can be seen and heard from this MSNBC video link - "The Stimulus Failed."
____

And from Heritage:

For objective observers the failure of President Obama’s $862 billion stimulus has become increasingly difficult to deny.

...Our nation’s unemployment rate is hovering near 10% not because of record job losses, as Biden suggests, but because of record job non-creation. Private sector employers have gone on strike. Contrary to what the President’s economic wizards and New York Times columnists believe, massive government deficit spending does not stimulate job creation. President Obama does not have a secret vault of money he can just throw at the American people. The resources the government spends come from the economy. When the government increases spending, it crowds out the resources that business owners could have invested in their enterprises. Private investment falls sharply when government spending rises. According to Sherk, annual private fixed nonresidential investment has fallen by $327 billion since the recession started— a 19 percent drop. Less private investment means less hiring.
_____

Hot Air Video: “The stimulus failed”

 

[Sinatra]

Nancy Pelosi saying they had to pass the healthcare bill to find out what was in it.

That pretty much sums up the loopy-strange universe this current crop of neo-progressive libs are residing in.

 

[boedicca]

No MSNBC linky?

 

[Sinatra]

MSNBC link is within the HotAir link...

 

[syrenn]

Nancy Pelosi saying they had to pass the healthcare bill to find out what was in it.

That pretty much sums up the loopy-strange universe this current crop of neo-progressive libs are residing in.

Rather like her calling the country a refrigerator and its citizens idiots.

”It’s like the back of the refrigerator. You see all these wires and the rest,” said Pelosi. “All you need to know is, you open the door. The light goes on".

 

[RDD_1210]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

 

[xsited1]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

Some people say Bush's stimulus package was necessary to prevent a total meltdown of the banking industry. I disagree. But you do make a good point which brings me to my favorite bumper sticker:

 

[theDoctorisIn]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

Some people say Bush's stimulus package was necessary to prevent a total meltdown of the banking industry. I disagree. But you do make a good point which brings me to my favorite bumper sticker:

I have a question. How can Obama simultaneously be Bush's third term, and a far-left Marxist/Socialist?

 

[xsited1]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

Some people say Bush's stimulus package was necessary to prevent a total meltdown of the banking industry. I disagree. But you do make a good point which brings me to my favorite bumper sticker:

I have a question. How can Obama simultaneously be Bush's third term, and a far-left Marxist/Socialist?

Considering that Bush was an LBJ-style Democrat, I wonder.

 

[theDoctorisIn]

Some people say Bush's stimulus package was necessary to prevent a total meltdown of the banking industry. I disagree. But you do make a good point which brings me to my favorite bumper sticker:

I have a question. How can Obama simultaneously be Bush's third term, and a far-left Marxist/Socialist?

Considering that Bush was an LBJ-style Democrat, I wonder.

Wait, so you're saying that Bush was a far-left Marxist/Socialist?

 

[Jarhead]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

First learn to know what you are talking about.
TARP was not a stimulus plan. It was a poorly advised loan to banks.

 

[theDoctorisIn]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

First learn to know what you are talking about.
TARP was not a stimulus plan. It was a poorly advised loan to banks.

Bush's stimulus plan was to mail everyone a check for a couple hundred bucks.

That didn't really work either, though.

 

[Jarhead]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

First learn to know what you are talking about.
TARP was not a stimulus plan. It was a poorly advised loan to banks.

Bush's stimulus plan was to mail everyone a check for a couple hundred bucks.

That didn't really work either, though.

That was not right before he left office. That was early 2008.

And it was a political move, and a waste of money and time.

Who the hell is going to spend an extra 500 on goodies when they are seeing people get laid off all around them?

 

[theDoctorisIn]

First learn to know what you are talking about.
TARP was not a stimulus plan. It was a poorly advised loan to banks.

Bush's stimulus plan was to mail everyone a check for a couple hundred bucks.

That didn't really work either, though.

That was not right before he left office. That was early 2008.

And it was a political move, and a waste of money and time.

Who the hell is going to spend an extra 500 on goodies when they are seeing people get laid off all around them?

Yep.

 

[xsited1]

I have a question. How can Obama simultaneously be Bush's third term, and a far-left Marxist/Socialist?

Considering that Bush was an LBJ-style Democrat, I wonder.

Wait, so you're saying that Bush was a far-left Marxist/Socialist?

Not as far left as Obama, but nobody would accuse him of being a conservative and he certainly was a lot like LBJ. It's interesting to see how much alike people like Bush, LBJ and Obama really are. I'm still amazed at how many people were duped into believing that Bush or Obama would actually be good Presidents.

 

[boedicca]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

Bush pushed through TARP, which was not a stimulus plan - it was a disaster mitigation plan to loan money to large financial institutions with conditions of repayment.

The Stimulus bill is pure pork. Most of the money spent to date has gone to bailout out bloated local and state government, forestalling but not preventing the reductions in force which are necessary for their financial solvency, and to transfer payments for the un and underemployed. The only thing it stimulated was employment in and dependency upon Bigger Government.

 

[The Rabbi]

Please explain the difference between the Stimulus plan bush passed through before he left office and Obamas stimulus plan.

Bush pushed through TARP, which was not a stimulus plan - it was a disaster mitigation plan to loan money to large financial institutions with conditions of repayment.

The Stimulus bill is pure pork. Most of the money spent to date has gone to bailout out bloated local and state government, forestalling but not preventing the reductions in force which are necessary for their financial solvency, and to transfer payments for the un and underemployed. The only thing it stimulated was employment in and dependency upon Bigger Government.

He had a stimulus plan, largely egged on by Nancy Pelosi, earlier. As part of getting it passed he agreed to "stimulus checks" ala Carter. They didnt work any better than Carter's did and were a complete waste of money.
So we have two, possibly three, stimulus plans already passed by Democrats and the economy gets worse.
Japan embarked on a course of stimulus plans, infrastructure spending, and ultra low interest rates. The result has been nearly 20 years of stagnation. We are in for the same. And this was predicted when the Obama stimulus plan was floated in an ad by 200 economists in the WSJ.

 

[Sinatra]

Correct- the Bush stimulus bills were joint efforts with the Democrat dominated Congress.

TARP was the controversial bank bailout plan that both Republicans and Democrats signed on to. TARP at least appears to be paying the taxpayers back with interest.

Now the Obama stimulus bill was, as some have already pointed out, a near-trillion dollar special interest political slush fund that served to impliment the Democrat wish-list of the last 30 years. It has only expanded government, taken hundreds of billions from the private sector, which in turn has resulted in minimal real-jobs growth. What we now have then is a stagnant economy with real unemployment actually far higher than the roughly 10% we see advertised.

As the MSNBC comments pointed out, the Obama White House had no long term idea regarding the economy - just some very expensive short term government spending that has proven to be a complete failure.

And is anyone surprised? Just look around the world - Spain, Greece, Portugal, etc - the socialized system of government is simply not sustainable, and yet, America currently is being run by a group of Big Government liberals who wish to expand just such a system here at home - a very-very dangerous path they are attempting to lead us...

 

[WillowTree]

I've come to the conclusion that obie wan has the "reverse mida touch" sorta..