Forgotten about in all this controversy over the health care disaster? The stimulus disaster. The stimulus has been an absolute catastrophe. There have been very few jobs created and the majority that have been created have been temporary government jobs. The private sector is in shambles. The unemployment rate is at 9.4% and will continue to grow. Additionally, the number of people with an actual job has been declining since January, in my opinion a more accurate stat of true unemployment. All this mind you, because if we didn’t rush the stimulus through, unemployment would hit – gasp! – 8%. Well, it’s currently 18% over that projection with this pork-riddled boondoggle in place.
And as unemployment numbers head toward Great Depression levels, Obama expects us to ignore this hard data when he says, with a straight face, the stimulus is working great and has “saved or created” a million jobs, or 2 million jobs depending on who’s listening that day. Of course, “saved” jobs can’t be measured but it’s cute when Obama throws out make believe numbers that mindless followers digest as scripture but fact check websites rip to shreds.
Let’s also not forget what the stimulus has done to the deficit and national debt. This week, the White House revised their deficit projections to the tune of a 27% increase. Turns out they were off by a couple of trillion; merely some pocket change in the grand scheme of the Obama agenda. Nonetheless, since the Obama takeover, we have become the 3rd most indebted developed nation in the world. When you hear people say we’re ruining our future with this out of control spending, they’re not talking 20-30 years from now…they’re talking like next Tuesday. According to last month’s IMF report, our government debt as a percentage of GDP will rise from 63 percent in 2007 to 88.8 percent this year and hit an unimaginable 99.8 percent of GDP next year. That is INSANE! Throw in a $trillion “cost cutting” health care initiative (ha!) and Obama will be appointing a national bankruptcy czar relatively soon.
An interesting fact from abroad: the vast majority of the world’s biggest economies grew in the 2nd quarter, signaling an end to their recessions. The three countries that experienced a contraction were the U.S., Great Britain and Italy…and what do they have in common? They all had expensive stimulus plans to “help” their economies grow.
Unfortunately, the outlook doesn’t look any brighter as future fiscal and political disasters lie ahead in the pipeline of Obama’s extremist agenda: cap and trade II, amnesty for all illegals, mandatory recruitment camps community service for our children and the creation of a national civilian security force as well funded as our military, to name just a few.
Hopefully the stimulus and health care disasters reduce his political capital significantly enough that Congress can feel a little more comfortable laughing in Obama’s face the next time he wants to toss trillions around for some asinine plan of his.