Diary

Obama Economic Policy Failing

In yet another attempt to spin a failing policy into a success Barack Obama announced that his stimulus plan has ,”saved or created,” 150,000 jobs during a time when the economy LOST 1.5 million jobs. Using an arbitrary number that he created from nothing Obama cannot prove or disprove the saving of any job and when asked this during his announcement he stumbled and stated that the press could just ask the people whose jobs were saved.

Now he promises that in the next 100 days his stimulus will ,” save or create,” 600,000 jobs, which like the first number is an arbitrary figure pulled out of his magic political hat with no bases on fact or any way to prove or disprove. Neither of these numbers are backed by or used by the Labor Department nor any other agency that gathers job statistics. But Obama still spins this as success and the drooling adoring press gives him a pass without questioning him.

To date only 5% of the $787 billion dollar stimulus package has been spent. This after Obama in a move to create panic claimed that if his package was not quickly passed the economy would collapse. He would not even give members of Congress 48 hours to read the bureaucratic monstrosity. Now several months later and with the economy stabilizing WITHOUT his massive government spending package he once again is claiming disaster unless more money is released.

Of course this is part of the build up to pushing through his Health Care government take over plan once again creating panic to force through his legislation. On the jobs front when Obama was trying to push through his stimulus his promise was that if passed it would prevent unemployment from surpassing 8%. The May unemployment numbers pushed that figure to 9.4% and economists state that this figure will continue to climb through the rest of this year reaching at least 10% before leveling off early next year

In fact according to Obama’s recovery plan when he was pushing for passage, if passed unemployment would level off at almost 8% in the second quarter of this year and begin falling. With the government doing NOTHING the same measurement had unemployment leveling off at 9% by the first quarter of 2010 and then dropping . With the economic policies of Obama stepping in the actual figures show unemployment rising to 9.4% in May and still climbing. So in actuality Obama’s economic policy has caused greater unemployment than if NOTHING had been done. So much for ,” saving or creating,” 150,000 jobs !

The good news is that the American people are beginning to understand his failings and not buying into the spin. According to a new Rasmussen polls 45% of Americans now trust Republicans more on economic matters with only 39% trusting Democrats. The GOP also holds a six point lead on the question of which party is more ethical and less corrupt. This is an eleven point shift from just one month ago. Adding to Democrat economic woes the GOP holds a 44% to 39% lead on the issue of taxes.

Obama’s spin may play well to his loving and adoring press fans but the American people understand that his economic policy is creating problems rather than solving them. Creating deficits that are skyrocketing faster than the Space Shuttle achieves orbit with no end in sight. Especially now that Obama is personally pushing his government take over of the Health Care industry to create yet another massive entitlement which will expand government and the deficit even more than has already happened during his first six months in office.

Ken Taylor   http://theliberalslies.blogspot.com