3 Years of Obama Stimulus Has Been A Failure

Hope n’ Change in Midstream
Toon by A.F. "Tony" Bronco

After three year, it is extremely obvious to democrats (barring liberal progressives), republicans, and independents that President Obama 2009 Stimulus has been an abject failure. All we have to do is look at our neighbors, friends and family and our economy. Question: Barring President Obama and his friends and family, Are Americans better off today that when the Barack Obama signed his 2009 Stimulus bill? For the majority, the answer is NO.

If readers need source information beyond which has been provided over the last few days, below are more links.

Stimulus: 3 Years Later

President Obama’s Stimulus Package Has Not Delivered The Jobs His White House Claimed It Would

5 Million Jobs Short Of White House Stimulus Claim

WHITE HOUSE REPORT: “Aggregate Effect of the Recovery Package on GDP and Jobs in 2010Q4 … With Stimulus … Payroll Employment: 137,550,000.” (Christina Romer & Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,” P.4, 1/9/09)

·         In Jan. 2012 payroll employment was 132,409,000. (U.S. Dept. Of Labor, “Employment, Hour, And Earnings From The Current Employment Statistics Survey (National),” Accessed 11/28/11)

428,000 jobs have been lost since the stimulus was signed (Feb. 2009 – Jan. 2012). (U.S. Dept. Of Labor, “Employment, Hour, And Earnings From The Current Employment Statistics Survey (National),” Accessed 11/28/11)

CBO: Unemployment ‘Will Remain Above 8 Percent Until 2014’

The unemployment rate has stood above 8% for 36 months (Feb. 2009 – Jan. 2012). (“The Unemployment Situation – January 2012,” Bureau Of Labor Statistics, 2/3/12); (BLS, Accessed 1/24/12)

·         “CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking for work for more than six months -- referred to as the long-term unemployed -- topped 40 percent in December 2009 and has remained above that level ever since.” (CBO Report, 2/16/12)

OLD STIMULUS CLAIM: Unemployment Won’t Exceed 8 Percent

WHITE HOUSE REPORT: Obama officials claimed that the “unemployment rate with… the recovery plan,” would not exceed 8 percent. (Christina Romer & Jared Bernstein, “The Job Impact Of The American Recovery And Reinvestment Plan,” P.4, 1/9/09)

PRESIDENT OBAMA: “It's a plan that will save or create up to 4 million jobs over the next two years.” (President Obama, Town Hall Meeting, Fort Myers, FL, 2/10/09)

VICE PRESIDENT BIDEN: In “18 months” stimulus will “create 3.5 million jobs … literally drop-kicks us out of this recession.” (Vice President Biden, Remarks At Recover Plan Implementation Meeting, The White House, 2/25/09)

·         BIDEN: “In my wildest dreams, I never thought it would work this well.” (“Biden On Stimulus: ‘Never Thought It Would Work This Well,’” The Wall Street Journal, 9/24/09)>

SEN. HARRY REID (D-NV): “This bill creates 3.5 million jobs.” (Sen. Reid, Press Conference, 2/11/09)

Stimulus: 3 Years Of ‘Investment’

President Obama’s Stimulus Is ‘Remaking The American Landscape,’ One ‘Million Dollar Yacht’ At A Time

PRESIDENT OBAMA: “…we are remaking the American landscape with the largest new investment in our nation's infrastructure…” (Remarks By The President And The Vice President At Signing Of The American Recovery And Reinvestment Act, 2/17/09)

Stimulus ‘Investment In Our Nation’s Infrastructure’

$489,000 To Renovate ‘A Million Dollar Yacht,’ The Angelena II, Owned By The City Of Los Angeles

“…Los Angeles is the proud owner of a million dollar yacht and it is about to undergo hundreds of thousands of dollars in renovations at taxpayer expense… The port is using $489,000 in federal taxpayer stimulus money that is supposed to go create jobs…” (“Taxpayer Money Used To Maintain Million-Dollar Yacht,” KCAL-TV [Los Angeles, CA], 2/6/12)

$54 Million For A Napa Valley Wine Train

“The Napa Valley wine train, to tourists a great way to see America’s most celebrated wine region, to others exhibit a in what’s wrong with the stimulus… 54 million stimulus dollars to build a new rail bridge, elevate and relocate 3,300 feet of tracks and put flood walls around the train's main station.” (ABC News’ “Good Morning America,” 2/2/10)

$1 Million For The ‘The Sunset Strip’ ‘Nose Job’

“Sunset Boulevard, also known as ‘The Sunset Strip’ and one of the most famous streets in the world, will be getting a $7 million facelift after more than 75 years of use, with a free million dollar nose job coming from Uncle Sam. The City of West Hollywood Council received one million dollars in federal funds from the Federal American Reinvestment and Recovery Act (ARRA)...” (“Feds Stimulus Sunset Strip Beautification Project,” WeHoNews, 9/28/09)

$150,000 For A Bridge That ‘Doesn’t Go Anywhere’ And ‘Ends In A Sheer, 8-Foot Drop’

“A historic stone arch bridge that received more than $150,000 in federal stimulus funds this year has fallen short of some people's expectations -- mainly because it doesn't go anywhere. The bridge, which dates back to the 1860s, ends in a sheer, 8-foot drop after it crosses the Contoocook River. Traffic no longer crosses the span, which parallels a modern bridge near the intersection of Routes 202 and 149.” (“$150 Thousand For 'Bridge To Nowhere,'” The Union Leader [NH], 8/12/10)

$2 Million To Extend And Restore “The Crookedest Railroad In The World”

“A $2 million grant went to extend an antique tourist train line, the Virginia & Truckee Railway, built during Nevada's silver mining boom. The line currently ends near Mound House, home to several legal brothels, including the Kit Kat Guest Ranch and the Moonlight Bunny Ranch, but would go to Carson City.” (“Stimu-Loss For Words - This Bunch Of Clowns Getting Federal Grants,” The New York Post, 12/9/09)

Money For ‘Jumping Fish’ Art

“Jumping fish are now on display at Volland and Canal. It's not an aquarium. It's pieces of art in this median. This is the final touch to the first phase of ‘The Columbia Park Overlook Project.’ Stimulus money paved the way. Phase ‘two’ calls for new sidewalks, and better bike access from Fisher to Volland on Canal Street.” (“Fish Art And Other Kennewick Stimulus Projects,” KEPRTV [Pasco, WA], 9/8/09)

Stimulus: 3 Years Of Editorial Criticism

Editorial Pages Across The Country Have Been Criticizing President Obama’s Stimulus Package Ever Since It Passed

An ‘Indisputable Flop,’ ‘A Demonstrated Failure’

THE CHICAGO TRIBUNE: “If the federal government can't responsibly manage the money it's doling out in the name of economic stimulus, then it has no business doling out the money — period… Public investments… must be based on due diligence. Not big money politics. Not stimulus rollout timetables. Not sun-struck ideology….A nickel's worth of business sense and a dime's worth of caution might have saved Uncle Sam millions — and the Obama administration a heap of trouble.” (Editorial, “The Solyndra Saga,” The Chicago Tribune, 9/15/11)

LOS ANGELES TIMES: “…some economists are questioning not only the size and composition of the $787-billion stimulus package that Congress approved in 2009, but also the economic theory behind it.” (Editorial, “A Stimulus Strangled In Red Tape,” Los Angeles Times, 9/22/10)

THE DENVER POST: “…did little to slow the economic slide, and they piled an unacceptable amount of debt...” (Editorial, “Second Stimulus Isn't In The Cards,” The Denver Post, 8/19/11)

·         “Obama and others have bragged about how the stimulus created or saved millions of jobs. The boast of ‘saving’ jobs is a dubious, at best…” (Editorial, “We Don't Need A Second Stimulus,” The Denver Post, 2/21/10)

·         “Just a little over one year ago… President Obama touched down in Denver to sign a massive federal spending bill to stimulate the economy… One year later, it's still tough to judge. But one thing is clear: We don't need another one…” (Editorial, “We Don't Need A Second Stimulus,” The Denver Post, 2/21/10)

·         “…we've learned not to trust the government's accounting on the massive stimulus bill just yet. The jobs figures are wildly misleading…” (Editorial, “Fuzzy Math So Far On Stimulus,” The Denver Post, 11/3/09)

CHATTANOOGA TIMES FREE PRESS: “Nationwide, the counties that got the most road work money per capita from the $862 billion stimulus created no more jobs for construction workers than counties that got no stimulus money. Other spending from the stimulus has been equally non-stimulating.” (Editorial, “Tax Increases, More 'Stimulus' Won't Work,” Times Free Press [TN],” 9/6/11)

THE ORANGE COUNTY REGISTER: “Considering the indisputable flop of 2009’s massive infusion of tax money, why would spending less this time fare better?” (Editorial, “Less Of The Same Old Stuff From Obama,” The Orange County Register [CA], 8/9/11)

·         “It is almost difficult to parody the incoherence of the Obama stimulus plan… The distance from reality could hardly be more dramatic…” (Editorial, “What Economy Are They Talking About?,” The Orange County Register [CA], 6/10/09)

·         “If Obama really wanted to jump-start the economy he would cancel the stimulus spending…” (Editorial, “What Economy Are They Talking About?,” The Orange County Register [CA], 6/10/09)

THE NEW YORK POST: “It was an $800 billion misadventure that will be wreaking havoc on the economy for years to come. No, not the war in Iraq, where an American combat-troop presence officially comes to an end tomorrow. We're talking about President Obama's economic-stimulus program.” (Editorial, “Bam's Spending Spree,” The New York Post, 8/30/10)

·         “… the president's panacea turned out to be an $862 billion bottle of snake oil -- and it cost $100 billion more than the entire Iraq campaign to date.” (Editorial, “Bam's Spending Spree,” The New York Post, 8/30/10)

THE RICHMOND TIMES-DISPATCH: “Just before the Thanksgiving holiday, the Congressional Budget Office released its latest estimates of the economic effect from the Obama stimulus package, and guess what: The stimulus did less good than earlier estimates suggested. There's a big shock.” (Editorial, “Stimulus: Correction,” The Richmond Times-Dispatch [VA], 11/29/11)

THE DAYTONA BEACH NEWS-JOURNAL: “… the $800 billion Stimulus I bill passed by Congress in 2009 did not live up to its billing. Despite this massive infusion of deficit spending, the economy has continued to sputter.” (Editorial, “Obama's New Stimulus Won't Revive Economy,” The Daytona Beach News-Journal [FL], 9/10/11)

THE WALL STREET JOURNAL: “Why did his first jobs plan—the $825 billion stimulus—so quickly result in the need for another jobs plan?” (Editorial, “Why The Stimulus Failed,” The Wall Street Journal, 9/8/11)

·         “The new jobs Democrats promised still haven't arrived, and while the recovery should finally produce job growth this year, Americans know they have received little for their $862 billion in ‘stimulus.’” (Editorial, “Another Liberal Crackup,” The Wall Street Journal, 2/17/10)

THE SAN FRANCISCO EXAMINER: “At the time Solyndra received its grant, Vice President Joe Biden declared that the Solyndra investment is ‘exactly what the Recovery Act is all about.’ Events have proven Biden right. Now that Solyndra is a demonstrated failure like the stimulus package as a whole, the administration still wants to continue the waste.” (Editorial, “Solyndra Bankruptcy Shows Stimulus Failure,” San Francisco Examiner, 9/1/11)

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