Obama Administration: Stimulus Deficit Spending Has Created Or Saved 1,000,000 Jobs
Of course, the unemployment rate has gone from 7.6% to 9.8% under the Obama administration, but don’t let facts cloud your admiration of Obama’s economic prowess.
WASHINGTON (AFP) – New data provides the first confirmation that President Barack Obama’s economic stimulus plan has so far saved or created more than one million jobs, administration officials said Friday.
Statistics provided by tens of thousands of state and local governments, private firms and universitites detail how a portion of the 787 billion dollar rescue package was spent up until September 30.
Just to give you an idea of these jobs being “created or saved” remember that eight of the jobs were created with an $891,000 subsidy to manufacture creamy peanut butter. What’s going to happen to the nearly 1,000,000 pounds of creamy peanut butter that was subsidized into existence with no apparent customers for it? Who knows.
Also, how about $4.6 million to “save or create” 2 jobs painting hangar floors? And there are some more absurd examples in this CBS news report about the stimulus spending:
I could go on, but the point is this: Any jobs that might have been created by this government spending are really only going to last as long as the spending does. Once the spending is gone so are the jobs, because all we’ve done is subsidize some economic static to give the appearance of recovery.
What’s more, we’re also running up massive amounts of debt that will be a burden against future economic growth. After all, this money the government has been pouring into the economy has to come from somewhere. Right now it’s coming from international creditors like China who are lending the money to us against our future tax payments. Meaning that any “stimulus” we see now will be more than outweighed by our having to pay this money back – with interest – in the future. Tags: Asshats, Domestic Issues, Politics
