In what many view as being both a serious blow to the administration of our “Dear Beloved Leader,” Barry “Almighty,” as well as a vindication, of sorts, regarding their claims that Barry’s bogus “stimulus” plan was just that, comes a new report by the Congressional Budget Office (CBO). The report concludes that Barry’s much bragged about economic “stimulus” plan created far fewer jobs than expected and “crowds out” private investment. The new report the CBO released on Tuesday finds that the much ballyhooed American Recovery and Reinvestment Act, a.k.a. “stimulus,” may have boosted the economy in the short run by supposedly “sustaining” some 700,000 jobs at its peak in 2010 but “will reduce output slightly in the long run, by between 0 and 0.2 percent after 2016.”
The report estimates that the total number of jobs the plan produced was far fewer than the 3.5 million the Barry “Almighty” administration predicted during the peak of the massive amount of wasteful spending. The CBO estimates that the stimulus is responsible for “sustaining” between 600,000 to 1.8 million jobs during this quarter, which lowered the nation’s unemployment rate by a whopping, 1 percent. In July, the conservative Weekly Standard estimated that Barry’s bogus “stimulus” package cost taxpayers $278,000 for every job it created. It goes without saying, that there was no immediate comment from the White House on the CBO report, but officials have insisted in the past that the economy would have fallen into a depression without the jobs act. But there’s no way to prove it.
In September, White House press secretary Jay “Dim Bulb” Carney even went so far as to call the results absolutely “uncontestable.” He made the claim that the infrastructure projects that the act created “were very well managed, came in on budget or under budget and led to the creation of many, many jobs” that would not have been created otherwise. CBO, supposedly a nonpartisan agency, has re-evaluated the stimulus every three months with varying estimates of the total price tag, from $787 billion, up to $862 billion and now $825 billion. The agency also has changed its model for the spending's impact on the economy, and in what should come as no surprise is the fact that the new calculations show that the act did less than originally projected.
At the peak of spending from July through September 2010, the American economy sustained between 700,000 and 3.6 million jobs, which lowered the unemployed rate between four-tenths of a percent to 2 percent. An opinion piece in the Atlanta Journal-Constitution acknowledges that the stimulus failed to keep unemployment below 8 percent, as the Barry’s administration had promised if the “stimulus” was passed. However the discrepancy, or the excuse for the failure of the so-called “stimulus,” was blamed on a greater decline in the gross domestic product than previously estimated. “In short, in early 2009 we thought the economy had fallen off a ladder,” the article in says. “In reality, it had fallen off a six-story building.”
So the sad fact of the matter is that once again, we the American people were sold a bill of goods by a corrupt president who has a distinct problem when it comes to telling the truth, and the very corrupt political party of which he is a member. We have been lied to since day one of this administration, and there appears to be no let up in sight. In fact, with the election just around the corner, we can only expect the lies spewing from our defective president to increase in both number and intensity. The man has no record on which he can run, his only hope is to slander any potential rival to the degree that the American people will turn to him in default. This we cannot allow to have happen. We must be prepared to counter the lies, providing proof of just how much destruction has been wrought by Barry “Almighty.”
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