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AP kinda sorta admits: The stimulus isn’t working

posted at 8:08 pm on June 8, 2009 by Allahpundit
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Yet. It’s not working yet. Just wait until next year when the spending really kicks in. After the economy’s, er, already started to recover.

Plus, it’s already “created or saved” not quite one-tenth the total number of jobs lost. That’s worth upwards of a trillion dollars, isn’t it?

Neither the acceleration nor the jobs goal are new. Both represent a White House repackaging of promises and projects to blunt criticism that the effects haven’t been worth the historic price tag. And the job estimate is so murky, it can never be verified.

The economy has shed 1.6 million jobs since the stimulus measure was signed in February, far overshadowing White House announcements estimating the effort has saved 150,000 jobs. Public opinion of Obama’s handling of the economy has declined along with the jobs data.

For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic…

Some analysts believe the White House is still not being realistic, that Obama will be lucky if any real job creation from his recovery effort is seen by the end of the year, let alone the employment explosion he predicts.

“I think these estimates are overly optimistic,” said Arpitha Bykere, a senior analyst with RGE Monitor…

Several economists said Monday the economy is unlikely to see much boost from the stimulus before next year.

Via Frank Strategies, a quickie recap of poor economies then and now. Rest assured, if/when unemployment does start to bounce back, Papa O’s generosity with our money will be given ample credit. No matter when it happens.


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Comment pages: 1 2

Obama lied, the economy died!

Jeff M (Formerly Jeff_McAwesome) on June 8, 2009 at 8:09 PM

Blasphemy! Racist!

Upstater85 on June 8, 2009 at 8:10 PM

July the forth time for another Tea day ?

Or rename it taking back America day

William Amos on June 8, 2009 at 8:10 PM

Can we all admit that Rush doesn’t need to hope Obama fails anymore???

Upstater85 on June 8, 2009 at 8:10 PM

Obama lied, the economy died!

Jeff M (Formerly Jeff_McAwesome) on June 8, 2009 at 8:09 PM

Ha!

Obama spent, the economy went!

Obama spoke, now we’re broke!

Obama’s a liar, our deficit’s on fire!

SouthernGent on June 8, 2009 at 8:12 PM

Well done. When is it going to air on prime time?

/

katy on June 8, 2009 at 8:13 PM

An ounce of prevention is worth more than a pound of the cure. Dammit people! pay attention and do your damned job and we wouldn’t have even had to find this out!

daesleeper on June 8, 2009 at 8:14 PM

Mercifully, the second 100 days will begin to demonstrate to the world that the Obama administration is a dismal failure. If we’re lucky, the rise and fall of Obama-Ra will be complete within the first year.

JiangxiDad on June 8, 2009 at 8:15 PM

History lession and prediction.

“The problem with Communism isnt that it doesnt work but that Stalin was a terrible spokeman for it”
/1989 lefties

The problem with socialism isnt that it doesnt work just that Obama was a terrible spokeman for it”
/2010 Democrat.

William Amos on June 8, 2009 at 8:16 PM

For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimisticLies…

Fixed.

Del Dolemonte on June 8, 2009 at 8:18 PM

To quote my offspring: “DUH!” What a doof our Putz in Chief is! I don’t think we need to wait another hundred days for the world to get a clue. I think they had him pegged after his first apology tour. Tea party on July 4th? yah sure you betcha!

Driefromseattle on June 8, 2009 at 8:19 PM

If we’re lucky, the rise and fall of Obama-Ra will be complete within the first year.

JiangxiDad on June 8, 2009 at 8:15 PM

I pray to my statute of Michelle Obama everyday for this to happen…

Upstater85 on June 8, 2009 at 8:20 PM

Obama spent.

The economy’s rent.

Mason on June 8, 2009 at 8:21 PM

you ain’t seen nothing yet.

rob verdi on June 8, 2009 at 8:22 PM

Whichever R ends wins the White House in 2012 will be able to claim that he/she inherited a giant deficit and a broken economy.

But at least he’ll be able to say it with a straight face.

innominatus on June 8, 2009 at 8:22 PM

Barney Frank in a Mystique costume would have done more stimulating…. but something sure is stimulating interest rates since January.

Chuck Schick on June 8, 2009 at 8:23 PM

In the next 100 days more homeless will be stimulated with new card board boxes to sleep in. We have more probably new bridges to sleep under.

seven on June 8, 2009 at 8:23 PM

0bama yapped, economy cr@pped.

Dark-Star on June 8, 2009 at 8:24 PM

Well, since what we’re doing isn’t working……
…..we should do lots more of it!

The country’s in the very best of hands.

cruadin on June 8, 2009 at 8:24 PM

I pray to my statute of Michelle Obama everyday for this to happen…

Upstater85 on June 8, 2009 at 8:20 PM

I pray to the mountain of paperwork and red tape Obama gave me in exchange for my liberty. :(

FloatingRock on June 8, 2009 at 8:26 PM

The economy has a brain freeze, and Odumber is telling us we have to drink WAY FASTER!

innominatus on June 8, 2009 at 8:26 PM

And the job estimate is so murky, it can never be verified.

Yet, under Bush, if the 3rd shift cashier at IHOP lost her job it made front page news.

Obambi job losses = murkey, unverifiable

Obambi avoided lost jobs = fact, certain, front-page

BacaDog on June 8, 2009 at 8:28 PM

I am with Kudlow in repealing the crap sandwich. If the GOP wanted to really be heroes, they would first begin filing lawsuits and next begin a campaign to stop the Porkulus.

We are having a tea party on the 27th of this month. Our second one.

With the taxes he is going to jack up, socialized medicine, and crappy defense from those religious nuts, who shall remain nameless, I doubt sincerely Zero is going to be heralded, and carried around with a laurel leaf wreath around his head. Despite his best efforts to become Caesar, or King of all Czars, the American people are going to be very, very mad when the light bulbs go off, and they will clip his yittle wings!

Crashing to Earf is going to hurt!

freeus on June 8, 2009 at 8:29 PM

The Obama Recession.

pearson on June 8, 2009 at 8:31 PM

Rising energy costs are robbing the advantages of lower interest rates and lower gasolene. Drill baby drill.

seven on June 8, 2009 at 8:32 PM

People who think the economy is going to magically recover next year are out of their minds. The best case scenario for our economy is a deep and prolonged L shaped recession. The worst case scenario is a catastrophic global meltdown followed by humanity’s enslavement by superintelligent apes.

Okay maybe not…

Still free wheeling consumerism, cheap and easy credit, and the American industrial base are sliding into history. American exceptionalism and dynamic, free market capitalism will soon follow.

Mike Honcho on June 8, 2009 at 8:33 PM

“Rest assured, if/when unemployment does start to bounce back, Papa O’s generosity with our money will be given ample credit.”

That’s all well and good…………

………… but will he take responsibility for this?

Seven Percent Solution on June 8, 2009 at 8:33 PM

Even if Ozone “saved” 1 million jobs at an average annual rate of $40,000 (ok I’m generous)that would amount to $40 billion, folks he spent at least a trillion! Big descrepency.

hip shot on June 8, 2009 at 8:41 PM

AP kinda sorta admits: The stimulus isn’t working

NO SHIITE. Whoever advised Barry Soetoro that Keynesian economics will straighten this economy out, deserves a trillion kicks in their ass. It didn’t work for FDR in the 30s, and won’t work now. Of course, if looting the treasury was the original intent, then shoving billions to the top will always achieve that goal, with very little ever reaching the bottom where it’s badly needed.

BTW Barry, socialism has broken many European countries, and is also a failed path and policy to follow. Capitalism has always been the backbone of any country’s growth. And yes Barry, there has to the rich to provide the jobs, and not an area that the government needs to meddle in.

byteshredder on June 8, 2009 at 8:41 PM

The media isn’t in the tank for god Obama, nah. Nah.

Daggett on June 8, 2009 at 8:41 PM

Not only is it NOT working, it’s making things worse.

roninacreage on June 8, 2009 at 8:45 PM

Just wait until the bond market goes full tilt…. Billions and Billions of more treasury debt being sold at auction this week…. Should be a wild ride.

BPD on June 8, 2009 at 8:48 PM

Psssssssssssssst, the stimulus was never supposed to work.

Pass it down.

-Dave

Dave R. on June 8, 2009 at 8:48 PM

What??? It’s not working???? Proof!!! I want proof!!! It has to be working. God is going to create, and save 600,000 jobs in the next 100 days. I’m shocked at these traitorous thoughts by the AP.

And a big ol DUH to the AP

capejasmine on June 8, 2009 at 8:51 PM

Clearly the problem is that I have not ordered the printing presses to print money at a high enough warp speed. I will instruct Tim to increase money printing to warp 8. It also looks like I didn’t fire enough CEO’s nor take over enough companies either. I’ll get with Emanuel and Dave and get right on that. I should probably also have a crash program to build more windmills. I should probably appoint a few more Czars too. Looks like that damned Bush got us into a much bigger hole than I had thought. Just hold on America, help is on the way. You aint seen nothing yet.
- Barackito Obamalini

MB4 on June 8, 2009 at 8:52 PM

YEEEEEEE-HAAAAAAAAAA!!!

……….. Aint this a wild ride!

Break out the whiskey and get ready to shoot your guns in the air………

YEEEEEEEEEEEEEEEEEEEEEEEE-HHHHHHHHHAAAAAAAAAAAAAAAAA!!!!!!!!

Seven Percent Solution on June 8, 2009 at 8:57 PM

MB4 on June 8, 2009 at 8:52 PM

“I” will soon disappear from Ogabe’s lexicon while “you” takes center stage as Ogabe cleans house. Those ranks of oiled czars are there for a reason; to act as fall guys.

“Don’t look at me, you dumb effers screwed it up.”

Bishop on June 8, 2009 at 8:58 PM

I should probably also have a crash program to build more windmills.
- Barackito Obamalini Don Quixote

MB4 on June 8, 2009 at 8:52 PM

FIFY… ;p

doriangrey on June 8, 2009 at 8:59 PM

We elected a joke…
Now we’re all broke.

Herr Obama was inaugurated…
Now the economy can’t be resuscitated.

Obama’s in power…
Now we’re all f*cked.

hillbillyjim on June 8, 2009 at 9:02 PM

American “journalism” died last year….who are those people?

d1carter on June 8, 2009 at 9:02 PM

Upstater 85 is spot on- the dirty Obama lie was that Porkulus was a giant payoff to those unaccounted millions in his election coffers. Pay for Play Chicago-style
Barry is gonna learn a hard lesson- politicians like to get re-elected no matter who’s president.
With the GOP now more trusted on the economy, Mr 52% will start to see rats coming up to the deck from red and purple states.

jjshaka on June 8, 2009 at 9:03 PM

Meant to credit Dave R.
Both posters are awesome regardless

jjshaka on June 8, 2009 at 9:05 PM

Under the reverse barometer theory…Were Scroooooood!

ronsfi on June 8, 2009 at 9:06 PM

Meant to credit Dave R.
Both posters are awesome regardless

jjshaka on June 8, 2009 at 9:05 PM

Ha thanks… I was VERY confused for a second there.

Upstater85 on June 8, 2009 at 9:06 PM

When we start getting jobless numbers of 9.99999%, then maybe the media will start worrying about 10% unemployment…

Upstater85 on June 8, 2009 at 9:09 PM

When we start getting jobless numbers of 9.99999%, then maybe the media will start worrying about 10% unemployment…

Upstater85 on June 8, 2009 at 9:09 PM

Would that be before or after they tell us how good for the economy having a 10% unemployment rate is???

doriangrey on June 8, 2009 at 9:12 PM

Ha thanks… I was VERY confused for a second there.

Upstater85 on June 8, 2009 at 9:06 PM

For a second??? heh heh heh ;p

doriangrey on June 8, 2009 at 9:13 PM

Things that would be nice….

A conservative spokesperson who would talk about American
Exceptionalism. Every Day.

Someone to keep pointing out which parts of the plan aren’t working, along with course corrections… this would force the administration to come out in favor of “staying the course;” (delicious irony!)

A general agreement among conservatives to honor Reagan’s 11th commandment.

massrighty on June 8, 2009 at 9:14 PM

The adults are in charge now!

What a bunch of crap, where is dear getalife?

M-14 2go on June 8, 2009 at 9:15 PM

Would that be before or after they tell us how good for the economy having a 10% unemployment rate is???

doriangrey on June 8, 2009 at 9:12 PM

Eh… it all clashes together. When clicking through the “news” channels one hears it all at once.

What a bunch of crap, where is dear getalife?

M-14 2go on June 8, 2009 at 9:15 PM

RIP getalife… hope she gets to lick Teh One’s toe jam in the next troll-life.

Upstater85 on June 8, 2009 at 9:19 PM

Should I go ahead and copyright “The double-dip was an inside job!” and get ready to rake in the bumper-sticker revenue?

I’m actually worried about the idea of Summers leaving. Summers has actually got a big enough ego to tell The One to his face if he thinks he’s full of it. I cannot imagine him regarding Obama with anything approaching deep reverence. There’s simply not a person on earth that Larry Summers thinks is smarter than he is.

DrSteve on June 8, 2009 at 9:22 PM

Sadly getalife is stuck shovelling coal in the boiler room of the HMS Obamic and her Birkenstocks are getting wet.

jjshaka on June 8, 2009 at 9:26 PM

Sadly getalife is stuck shovelling coal in the boiler room of the HMS Obamic and her Birkenstocks are getting wet.

jjshaka on June 8, 2009 at 9:26 PM

Ha, I don’t even think she knows what a Birkenstock is. I’m thinking she goes for the free stuff on the side of the road…

Upstater85 on June 8, 2009 at 9:28 PM

Just wait until next year when the spending really kicks in.

I’d like to add to that. Just wait until next year when the for-rich-only-evil-Bush tax cuts expire.

Those people living paycheck to paycheck are going to have a hard time explaining to their pot smoking 30 year old children playing xBox in the basement why they, the children, now have to get a job down at Burger King to bring in a little extra scratch to pay for food and electricity. And they, the children, are going to have a ball competing with the illegals already working there.

BowHuntingTexas on June 8, 2009 at 9:32 PM

Under the reverse barometer theory…Were Scroooooood!

ronsfi on June 8, 2009 at 9:06 PM

Scroomed! (screwed + doomed)

MB4 on June 8, 2009 at 9:34 PM

And the job (saved) estimate is so murky, it can never be verified.

Au Contrair, mi cherry!

The state of California knows exactly how many government jobs will be lost it they don’t come up with a few tens of billions of dollars. If The Obama administration were to give California those few tens of billions of dollars, they know exactly how many government jobs will be saved.

Skandia Recluse on June 8, 2009 at 9:36 PM

I’ll soon take all my troubles over to Obama Rue
You know The One with the teleprompter and the never ending Hope and Change shtick
He’s got a pad down on Pennsylvania avenue
He’ll be passin’ out little bottles of Obama Potion Number Nine

I’ll tell him that I’m having trouble with doctor’s bills and my mortgage payments
It’s gotten even worse in these last few weeks
He’ll kiss me on the cheek and he’ll made a magic sign
He’ll say “What you need is Obama Potion Number Nine”

He’ll turn around and gave me a wink
He’ll say “I’m gonna have my lovely Michelle make it up right here in the White House sink”
It’ll smell like Chicago, it’ll look like socialist printer’s ink
I’ll hold my nose, I’ll close my eyes, I’ll take a drink

I won’t know if it is day or night
I’ll start grabbin’ all the trillions that are in sight
But when a wheel barrel full of them won’t even buy a BigMac
It’ll break my little bottle of Obama Potion Number Nine
Obama Potion Number Nine
Obama Potion Number Nine
Obama Potion Number Nine

MB4 on June 8, 2009 at 9:38 PM

The recession is over!

Now the Depression caused by massive federal spending can begin!

PattyJ on June 8, 2009 at 9:59 PM

This isn’t the stimulus package I thought I knew

-The One

DrW on June 8, 2009 at 10:00 PM

I’m just stunned! I thought for sure that a half-black, half-white man, with the richness of his life experience, would have been able to make wise decisions on the economy that would be far above that of any previous white president.

Star20 on June 8, 2009 at 10:11 PM

What’s with Biden’s head?

bloggless on June 8, 2009 at 10:28 PM

With the GOP now more trusted on the economy, Mr 52% will start to see rats coming up to the deck from red and purple states.

jjshaka on June 8, 2009 at 9:03 PM

Let’s hope it starts tomorrow.

-Dave

Dave R. on June 8, 2009 at 10:35 PM

1st denial, then anger, then acceptance.

GarandFan on June 8, 2009 at 10:36 PM

Psssssssssssssst, the stimulus was never supposed to work.

Pass it down.

-Dave

Dave R. on June 8, 2009 at 8:48 PM

*passes down*

And I’m sure Rahm is giddy, er really worried about how he won’t let the emergent serious crisis go to waste.

pannw on June 8, 2009 at 10:40 PM

Things that would be nice….

A conservative spokesperson who would talk about American
Exceptionalism. Every Day.

Someone to keep pointing out which parts of the plan aren’t working, along with course corrections… this would force the administration to come out in favor of “staying the course;” (delicious irony!)

A general agreement among conservatives to honor Reagan’s 11th commandment.

massrighty on June 8, 2009 at 9:14 PM

I nominate Fred Thompson.

onlineanalyst on June 8, 2009 at 10:44 PM

If anyone really wants to know if the stimulus worked, here’s a tool you can use to find out one way or another.

And yes, we really said that about Obama….

ironman on June 8, 2009 at 10:49 PM

great post. Thanks for sharing. it is amazing the difference personal opinions make reporting the news less than objective.

It is really sad.

ThackerAgency on June 8, 2009 at 10:53 PM

A general agreement among conservatives to honor Reagan’s 11th commandment.

massrighty on June 8, 2009 at 9:14 PM

That would result in the R party continuing it’s race to the left with the D party. Is status quo really what you want?

FloatingRock on June 8, 2009 at 11:04 PM

In this article the AP also admits that Obama’s spending bills have caused future problems with inflation, which will also drive up mortgage rates and keep the housing market in a slump.

However, the writer still misses the point saying,

“…Kick-starting the economy requires higher spending…”

Kick starting the economy requires higher spending by consumers not the government especially if the government has to borrow to do so or requires significant increases in taxes on the producers in the economy to support it. Increased taxes won’t cover Obama’s spending spree, however. And anyone who was paying attention knew what these huge spending bills would do.

Sensible Mom on June 8, 2009 at 11:06 PM

Was getalife laid off from the LMglasfiber windmill plant in arkansas? 80 others were. They lost a reliable source of wind in the Testing department if it is so.
Firing green workers now. Share the wealth pain.

seven on June 8, 2009 at 11:23 PM

It’s not AP’s function to say whether it is or isn’t working. Just report verified data and interviews with those that have knowledge in certain areas.

Old habits die hard I guess.

Dr. ZhivBlago on June 8, 2009 at 11:31 PM

I heard getalife went on funemployment.

edshepp on June 8, 2009 at 11:58 PM

President who goes to bed with stimulus on mind
Wakes up with solution in hand

MaiDee on June 8, 2009 at 11:58 PM

I’m actually worried about the idea of Summers leaving. Summers has actually got a big enough ego to tell The One to his face if he thinks he’s full of it.

DrSteve on June 8, 2009 at 9:22 PM

Obama is not “full of it”, he’s an empty suit. It’s not that he doesn’t know things, it’s that he doesn’t know that he doesn’t know.

Profit/Earnings ratio. Egad.

PackerBronco on June 9, 2009 at 12:01 AM

OT:

WTF is wrong with Newt? I do not trust a single GOP leader outside of Sarah Palin and Jindal and a few others. I know this sounds sick but we have got some house cleaning to do. Newt is defending Colin Powell, the man WHO VOTED FOR OBAMA instead of McCain. Obama is the most leftists extremist to ever hold the office. How can Powell be considered a good conservative after this? It is mind boggling. And then in the next breathe Newt says he wants Obama to succeeded (to stick a knife in Rush’s back) but Newt says he wants SOME of Obama’s polices NOT TO FAIL but to be STOPPED.

Talk about splitting hairs. Newt you are joke. Go sit on that Global Warming couch with Pelosi.

Mark Levin went after newt today and I am so glad he did.

Geochelone on June 9, 2009 at 12:21 AM

The same stimulus bill that NOBODY READ BEFORE THEY PASSED IT! You were maybe expecting a different outcome?

Dadzilla on June 9, 2009 at 12:38 AM

Some analysts believe the White House is still not being realistic, that Obama will be lucky if any real job creation from his recovery effort is seen by the end of the year, let alone the employment explosion he predicts.

Golly gee Mrs. Cleaver, we had no idea.
I wish somebody would have mentioned this before the democrats pushed through a 1000 page spending bill that dwarfed the 8 years of spending by Bush without even reading it.

Oh wait…..there were plenty of warnings that this would not stimulate the economy.

We were called “right wing extremist” for bringing this up though.

Look at these “right wing extremist”:


Obama’s Stimulus Package Will Increase Unemployment

Tuesday , February 03, 2009
By John R. Lott, Jr.
http://www.foxnews.com/story/0,2933,487425,00.html
get_a(300,250,”frame1″);

President Obama and the Democrats’ “stimulus” package will increase the unemployment rate. The changes they propose will also make us poorer, with fewer, less productive jobs.

But this can’t be.
Mr. “Enchanted” himself said that spending this money would make everything alright.

Obama told us that we needed this money to keep unemployment at 8%.

Rising Unemployment Rate Undermines Obama’s Goal to Create 3.5M Jobs

The unemployment rate of 8.9 percent already exceeds assumptions made by President Obama’s economic advisers when they pushed for a $787 billion stimulus package that they said would be critical in reviving the slumping economy.
FOXNews.com
Saturday, May 09, 2009

http://www.foxnews.com/politics/2009/05/09/rising-unemployment-rate-undermines-obamas-goal-create-m-jobs/

Well that’s not working out to well now that we are at an even higher rate of 9.4%.

Got to be Bush’s fault!!!

Hope the press does not look into these numbers to carefully,it might just look worse:

Temp work helps mask joblessness among Americans

AP News

Jun 5, 6:44 AM (ET)

By FRANK BASS
But consider these numbers:
_

The 8.9 percent April unemployment rate was based on 13.7 million Americans out of work. But that number doesn’t include discouraged workers or people who gave up looking for work after four weeks. Add those 700,000 people, and the unemployment rate would be 9.3 percent.

_

The official rate also doesn’t include “marginally attached workers,” or people who have looked for work in the past year but stopped searching in the past month because of barriers to employment such as child care, poor health or lack of transportation. Add those 1.4 million people, and the unemployment rate would be 10.1 percent.

_

The official rate also doesn’t include “involuntary part-time workers,” or the 2 million people like Noel who took a part-time job because that’s all they could get, plus those whose work hours dropped below the full-time level. Once those 9 million workers are added to the unemployment mix, the rate would be 15.8 percent.


All told, nearly 25 million Americans were either unemployed, underemployed or had given up looking for a job in April.

Don’t pay attention to any of these distractions.
Did everyone see how “enchanted” Obama looked taking the wife out for dinner and a play in NY at over $100,000 pop to the tax payer or catch him walking on the water of the Seine
this weekend before the wife went off shopping during the “worst economy since the Great Depression”.
Wonder if she bought another $500 pair of shoes?

It is just so hard to believe that Obama was not warned that this would not work.
Especially when even his own top economic advisor said it probably would not create jobs:

Top Obama Economic Adviser Admits Stimulus Bill Might not Create Jobs

2009 February 4
http://americaswatchtower.com/2009/02/04/top-obama-economic-adviser-admits-stimulus-bill-might-not-create-jobs/

by Mr Pink Eyes

The great secret about President Obama’s stimulus bill is that it is not a stimulus bill. With only 12 cents on the dollar going to actual stimulating projects this bill is actually the biggest spending bill ever proposed in congress. And people wonder why Democrats are called tax and spend liberals. A close look at this bill is justification of that label.

Now that has changed again because according to this article President Obama’s top economic adviser is admitting that there is “considerable uncertainty” in regards to any of Obama’s claims of job creation. And this is coming from the woman who created that number in the first place.

It should be understood that all of the estimates presented in this memo are subject to significant margins of error,” they said. “There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress. But, there is the more fundamental uncertainty that comes with any estimate of the effects of a program. Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode. Furthermore, the uncertainty is surely higher than normal now because the current recession is unusual both in its fundamental causes and its severity.

What happened to all of that “pragmatism” the press is always bragging about Obama possessing.

This country sure could have used Obama changing his position on this bogus spending bill before he helped drown our future in trillions of dollars in debt for years to come.

Baxter Greene on June 9, 2009 at 1:35 AM

you ain’t seen nothing yet.

rob verdi on June 8, 2009 at 8:22 PM

No kidding, Jennifer Granholm, governor of Michigan said exactly that at a state of the state address a couple years ago…after she ripped a huge hole in Michigan’s economy.

Spiritk9 on June 9, 2009 at 3:01 AM

For the first time, the administration admitted the economic forecasts it used to sell the stimulus were overly optimistic…

“The Adventures of Pinocchio”

Johan Klaus on June 9, 2009 at 3:05 AM

About what, less than ten percent of stimulus funding has actually been sent out to the states?

When this stimulus package was made a national emergency of the most extreme kind, we were told two things.

The first, that it had to be passed immediately…so important was it to get the cash out to the states and get the stimulus programs working…fast…so fast that no one in Congress had time to read the bill that became law.

Then we were told that there were hundreds of “shovel ready” projects just waiting for the necessary influx of funds.

Both of these Obama assertions were…lies.

Ten percent or less, depending on whose figures one uses, have actually been “spent.”

There are no shovel ready projects.

Yet, the Obama Administration keeps taking more and more from an imaginary cash box, to the tune of over ten trillion in debt thus far…and the stimulus isn’t working?

Sometimes you need to knock the bottle from the alcoholic’s hand, intervene and get them to rehab, no matter how painful it may be for them….as it has become too painful for the rest of the family and friends to deal with.

Yet, here we are five months into this thing, and the only thing we hear from the White House is “we need more!”

Stop drinking…that’s the first step in treating alcoholism. It is also the toughest step. But, without it…nothing else matters.

Time to close the bar at 1600 Pennsylvania Avenue…and in Washington in general.

If we are going to treat this addiction…we are going to have to take some painful necessary steps, the first one being no more money to be taken from the people…our kids and grand kids and great grand kids. The second is to stop the spending of any more “stimulus” funds unless each program is fully justified before the people…fully…and “we need it” isn’t a reason.

Third, we need to let the market make the decisions…painful as many will be.

Lastly, we need to replace every single politician who foisted this stimulus canard upon all of us…and where it can be proven, or established, hold each one accountable under law for their misdeeds…well beyond merely voting them out of office.

The 2010 elections start soon…make them count. The 2012 elections start shortly after that…let’s make them count as well.

coldwarrior on June 9, 2009 at 4:57 AM

Oh yeah?

What was their first clue: the rapidly rising unemployment or the sluggish stock market?

Wonder if they’ll ever have the guts to admit that the general public, by and large, no longer views the AP as a creddible news source…

SuperCool on June 9, 2009 at 5:23 AM

One of the networks will have a hard hitting piece on Michelle Obama’s arms within the next day or two.

BPD on June 9, 2009 at 5:42 AM

One of the networks will have a hard hitting piece on Michelle Obama’s arms within the next day or two.

BPD on June 9, 2009 at 5:42 AM

After seeing the pic of that look she shot at Sarko’s wife, if I were a simpering media coward, I’d wanna stay on her good side too.

Built like a linebacker and got that “Jack Lambert” look in her eye…twenty bucks says she hits harder than Barry…Bonds…ON steroids.

SuperCool on June 9, 2009 at 5:48 AM

Just wait until next year when the spending really kicks in. After the economy’s, er, already started to recover.

That’s a tremendous fear of mine: the economy recovers in spite of Obama’s shenanigans. He gets all the credit and, in four years, we’ll be looking nostalgically at how well European socialist countries had it.

Physics Geek on June 9, 2009 at 8:03 AM

Some analysts believe the White House is still not being realistic, that Obama will be lucky if any real job creation from his recovery effort is seen by the end of the year, let alone the employment explosion he predicts.

Doesn’t matter. With liberals it is all about intent. Sure the filthy in the liar destroyed the nation but he meant well which gives him a pass as far as his propagandists (the MSM) are concerned.

highhopes on June 9, 2009 at 8:25 AM

And to think the commercial real estate sector is coming to a head, inflation will continue to rise, T Rates are rising and the home construction sector (should have) peaked by the end of Q2…

In the immortal words of Banana Rama it’s going to be a “Cruel, Cruel Summer”…

Odie1941 on June 9, 2009 at 8:44 AM

Drudge has at least 9 separate story headlines which criticize the economy, Obama’s idiot administration, or the clownish press vis a vis Obama, all at the top.

It’s one siren short of a red headline screaming “Fraud!”

Heh.

Jaibones on June 9, 2009 at 8:54 AM

Well if we do have another independence revolution, I say we need to schedule it on July 4th. That way we don’t have to get a new holiday. Just saying…

jeffn21 on June 9, 2009 at 9:17 AM

It’s time to place the blame for this robust economy equally to all those worthy of mention. That is to say Obama, NBC, CBS, ABC, CNN and PBS and members of the United States Congress. The media is in a position to improve the truthful knowledge to better mankind, but instead has chosen to aid and abet a biased socialist movement and to destroy the greatest economy ever to exist.
TRANSPARENCY MY A$$

bluegrass on June 9, 2009 at 9:26 AM

Just imagine if we had a trillion dollar tax cut

CMonster on June 9, 2009 at 9:26 AM

And the job estimate is so murky, it can never be verified.

Ahh, the ultimate CYA.

Brill.

bluelightbrigade on June 9, 2009 at 9:39 AM

Jimmy Carter is ecstatic!!!! He’s no longer the most incompetent president in recent memory!!!

landlines on June 9, 2009 at 9:48 AM

The recession is over!

Now the Depression caused by massive federal spending can begin!

PattyJ on June 8, 2009 at 9:59 PM

Hoover/FDR retread:
The failure to understand that unemployment is a surplus of workers caused by wages being too high and inflexible. The failure to understand that companies that go out of business are inefficient and it only reduces GDP to prop them up.

Do not try to defend Hoover — he chose poorly — but FDR went on to push even harder at Hoover’s failed ideas. That is what the Great Depression was about, and why P.BO is driving us toward it again (with the help of Bush’s last six months of economic policy).

Count to 10 on June 9, 2009 at 10:58 AM

Just imagine if we had a trillion dollar tax cut

CMonster on June 9, 2009 at 9:26 AM

Would not have been nearly effective as a trillion dollar spending cut, but at least it is not a step in the wrong direction.

Count to 10 on June 9, 2009 at 11:00 AM

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