When Barack Obama started telling us about jobs that his economic policies would “save or create,” many noted those first two weeks. I mean, how can he measure the number of jobs saved? He can tell us that, well, his economic program is succeeding because if we hadn’t had it, we would have lost 3,500,000 more jobs than we did.
Now, touting the success of his program, he’s asking to do it all over again. So, maybe that’ll help save another few million jobs because the last one sure didn’t create any. We’ve lost over 2.8 million jobs since the first one passed in February. Apparently convinced that more government money will help continue the progress made by the first “stimulus”, “President Obama will propose using $200 billion from the Troubled Asset Relief Program (TARP) to support creating jobs“.
His own words notwithstanding, guess the Democrat is not really aware of the private sector’s capacity to create jobs.
As Jim Geraghty puts it, “Obama’s plan to deal with unemployment at 10 percent is exactly the same as his plan to deal with unemployment when it was 7.6 percent.”
Some people just never learn.
You didn’t think he would return the TARP money to the taxpayers or put toward the debt, did you?
Just said the following to a few friends’ thought it would be worth sharing here.
Why “Stimulus” can’t and doesn’t work – I came across this today and can’t recommend it enough: http://www.europac.net/whitepapers/BewareOfObamanomics.pdf
It summarizes the truth about our economy. The government creates booms and busts. When the government “stimulates” – through spending, and through low interest rates – it makes bubbles. The bubbles are unsustainable. They are based on false economic signals from the government, not on reality. They look good for awhile, so politicians get re-elected. But when the bubbles pop, the mess is worse than ever. Free markets must clean up the mess. If free markets are allowed to clean up the mess, without further “stimulus”, the economy gets real again, or back on its feet. The government solved the Depression of 1920 and the Potential (but Avoided) Depression of 1946 by *not* “stimulating”. Read the whole thing.