With the latest figures from the Bureau of Labor Statistics showing that unemployment has increased to its highest level since the final aftershocks of the 1970s, it has become clear to all but the most dyed-in-the-wool Obama partisans and their media echo chamber (was that a redundancy?) that the “stimulus” has failed to created the new jobs promised when this was passed.
Remember when candidate Barack Obama invoked Dr. Martin Luther King to remind us of the “fierce urgency of now“? Well, once elected, that rhetoric (like much of his campaign) rhetoric has fallen by the wayside, replaced with policies designed to help the special interests who elected him and help the Democrats whose votes he needs to enact his statist agenda.
If Democrats really believed their “stimulus” would spur economic growth, they would have front-loaded it, that is, directed that the money go out immediately when it could most invigorate an ailing economy (as per the rhetoric surrounding the urgency of passage before even most elected representatives (or anyone else for that matter) had a chance to read it). Perhaps, defenders of the “stimulus” will claim that this budget boondoggle has failed to create any new jobs because only 5% of the money has been spent so far.
And the very failure to spend suggests that the purpose of this legislation was not to respond to immediate economic distress, but to the Democrats’ more pressing concern–retaining their majority–for “the bulk of the cash flow will not happen until mid-2010.” Just in time to rev up the economy before the mid-term elections.
(Even though the money has not gone out, at the time of its passage, the President warned us that without its passage, unemployment would increase. Well, it did pass and unemployment has increased to the levels we were told it would have reached had it not passed–and beyond.)
If this bill were about providing immediate help to an ailing economy, we wouldn’t have to wait so long to see the bulk of the cash.