THE HUMBLE LIBERTARIAN

Mind your business.

Wednesday, October 21, 2009

Obama's Stimulus Is Not Working!


Conservative Anti-Stimulus T-shirts: Get yours here.

Mr. Drudge had two important and related headlines today:

7 Months After Stimulus 49 of 50 States Have Lost Jobs
That's right! This press release by the Ranking House Ways and Means Committee Republican, Dave Camp shows that America is "Now Over 6 Million Jobs Shy of [the Obama] Administration's Projections" and says the following:

The table below compares the White House's February 2009 projection of the number of jobs that would be created by the 2009 stimulus law (through the end of 2010) with the actual change in state payroll employment through September 2009 (the latest figures available). According to the data, 49 States and the District of Columbia have lost jobs since stimulus was enacted. Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs. To see how stimulus has failed your state, see the table below.




So it's no wonder that Mr. Drudge also links us to new Rasmussen poll data, showing Obama's ratings are sinking again with an approval index near all-time lows. Bottom line: Your stimulus package isn't creating jobs, Mr. President, and America knows it, and we're holding you responsible!

The entire argument for the trillion dollar stimulus package that passed into law back in February, was that even though it would dry up productive capital and result in a net loss to the economy over the long run, in the short run it would create much-needed jobs to alleviate the distress of working class Americans.

It hasn't even done that! It was a completely worthless, piece-of-trash legislation that rewarded corporate lobbying interests at the expense of American productivity, true economic recovery, and as we now see, even jobs! I WARNED YOU ABOUT THIS!


I really did....

Back in February, I outlined seven detailed, well-reasoned arguments that the stimulus package would do just this to America's economy. I offered a sane, effective, and libertarian alternative stimulus package. I lost my freaking mind with anger when the House passed the stimulus bill.

Then in March, I reiterated the fundamental flaw in the economic thinking behind the stimulus package. And when the geniuses in Congress started talking about a possible second stimulus package, I offered some more creative, libertarian alternatives that would create real stimulus for the economy.

And I'm just a random kid with a blog! Can a random nobody like me really know more than the U.S. President about economics? How come I knew this would happen, and Congress didn't? Are our Congressmen that monumentally stupid, or did they know this would happen and not care because they did it to reward the lobbyists who will fund their reelection campaigns?


Angry Rant:

Democrats reading this- please, please get this through your mind: I am not a partisan hack, reactionary obstructionist, redneck racist, or whatever else you want to call me. I really want America to be wealthy and prosperous. I really care deeply about working class and impoverished Americans and I want what's best for them. This is not what's best for them.

Obama is not a populist savior. If he really was, I wouldn't have as big a problem with him. I rail against him for the same reasons you Democrats railed against Bush (and hey, while you were railing against Bush, I was right there with you): because Mr. Obama is a guardian of moneyed, corporate interests and is waging a war on America's poor to reward his buddies. Period.

The job numbers should set the record straight once and for all on "economic stimulus" packages. If they involve spending billions of dollars of taxpayer money, printed reserve notes, and hogged up credit to reward corporate interests with fat government contracts to do rushed work of questionable value to anyone: THEY WON'T WORK!