The Obama administration likes to repeat the made-up statistic crediting their failed stimulus spending plan with “saving or creating” 150,000 jobs. In the real world, where “hope” is quickly fading and “change” has been for the worse, 2 million jobs that existed when Obama rammed his spending plan through Congress have evaporated into thin air.
16,000 jobs a day lost, with an unknown number prevented.
Yet the media can’t help but parrot the strange and entirely fictional “saved or created” number. And, according to Politico, another Obama-run outlet reporting the “saved or created” number without question, Barack Obama is set to gin up stimulus spending to 4 times the current 2-million-job-destroying level.
He says the plan will “save or create” an additional 600,000 jobs, which only means they’ve made up a new number. Who knows how many jobs will actually be “lost or prevented?”
The spending plans include National Parks, summer youth jobs, veterans’ medical centers, police and teachers.
Because when I think of economic stimulus, I immediately think of our National Park system.
As it turns out, the tide on the issue of out of control government spending may be turning.
For the first time, a majority of respondents [in a new Gallup Poll] disapprove of Obama on the issue of “controlling federal spending” (51 percent to 45 percent).
Vodkapundit provides the most coherent explanation I’ve seen of why stimulus spending hasn’t worked, will never work, and is causing the problems we already have to get worse.
Look, stimulus spending can’t work, because of one of three things happens:
1. That extra spending means extra taxes which means the whole thing is a wash. (Government spending having some “multiplier” effect unknown to consumer or business spending is a big, fat lie.)
2. That extra spending means extra debt, which drives up interest rates, which chokes off growth.
3. That extra spending means extra money being printed, which means inflation which means any growth is illusory.
Of course, there’s no rule saying you can pick only one result. Mix and match up to all three to suit yourself! If I had to bet, I’d say we will indeed get all three.
Even the Associated Obama Press is noticing that Barack Obama’s economic policies are having a negative effect.
[B]ig government spending programs are turning out to have the opposite effect. Rates for mortgages and U.S. Treasury debt are now marching higher as nervous bond investors fret about a resurgence of inflation.