When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the "Seventh Quarterly Report" on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.
he report was written by the White House’s Council of Economic Advisers, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.
Two and a half years ago, Barack Obama was inaugurated as President of the United States and his promise to you was “Hope and Change”. So, are you better off today than you were two years ago? Unemployment is at 10 percent?
How's that for " Hope and Change"
The deficit is sky high and getting higher! How's that for " Hope and Change" The Housing market is in the toilet. How's that for " Hope and Change" The price of Gas is at $4.00 a gallon. How's that for " Hope and Change" How's That Hope And Change thing working in Harlem,?
How's That Hope And Change thing working in Iowa?
How's That Hope And Change thing working in North Carolina? How's That Hope And Change thing working in New Orleans? How's That Hope And Change thing working in Libya?