Sunday, August 22, 2010

Stimulus failed - Even liberals now see

The heart of liberalism admits what the data clearly show: Obama's stimulus failed. Daily Beast
Billions in stimulus money have failed to make the economy soar. Douglas Schoen on how Obama has hurt the recovery by flooding America with free cash. Recent reports from the Federal Reserve, the Labor Department , and the Commerce Department clearly and demonstratively show that the Obama Administration’s policies have not succeeded – indeed they have failed in ways that are clear and unambiguous. The Obama administration’s policies and programs are not producing real, long lasting results, and there has been no real growth. Put another way, an unprecedented degree of federal government spending and intervention vis-à-vis the $787 billion dollar economic stimulus package, the $81 billion dollar bailouts of GM and Chrysler, and the enactment of health care and financial regulatory and reform bills have done nothing to stimulate our anemic recovery and have fundamentally failed at creating private sector jobs, or generating economic growth necessary for a sustainable, healthy recovery. The net result of Obama's failed policies is that consumers are reluctant to spend, entrepreneurs are reluctant to invest, and employers are reluctant to hire to the degree necessary to spur economic growth. Indeed, they have done little more than generate an unsustainable national debt, which now exceeds $13 trillion. ...

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