White House says that the effect of the stimulus bill has peaked
While we keep waiting for the stimulus bill to stimulate the economy only to see nothing improve we learn that the stimulus bill has already peaked and the effects of the stimulus bill are begining to slow.
This news comes straight from the White House’s top economist.
A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year.
Considering that the stimulus bill did not contribute to any significant expansion this year why should we expect it to next year? Still trying to claim that the stimulus bill had some effect the administration is claiming that the bill created or saved between 600,000 and 1.5 million jobs. In the interest of being fair by using the high number, this amounts to the government spending over $500,000 for every job created or saved. Is that a reasonable price to pay for every job that was supposedly created or saves?
The stimulus bill was an abject failure and Barack Obama should be held accountable for squandering almost a trillion dollars in taxpayer money on nothing.
America's Watchtower 
To be fair — and I am NO fan of this White House — the “Stimulus Plan” was hatched under the previous administration. This administration just rammed it through. Either way, it mortgaged our future for a drop in the bucket.
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I was hard on the Bush administration for beginning this madness. Bush started the bailout mentalllity that this president has taken to a new level.
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I agree. Ironically, the line that the left had about Bush’s deficit spending, and mortgaging our kids’ futures is even more appropriate now… but amazingly silent. Bush was minor leagues compared to Obama when it comes to out-of-control spending.
I reposted an article (won’t add the link here) outlining the debt ride we’re on.
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I don’t have a problem with anyone leaving links here. I think it is a great way to get the message out to the most people.
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It must be Fox News behind this, they sabotaged the printing-presses at the mint so they couldn’t print the money fast enough- yeah that’s it.
I think the shine is off the rose now, Mr P.E…
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The shine IS gone, people are starting to eonder what they did last November.
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On the lighter side, I would have liked one of those $500,000 jobs!
Maybe a new law should be passed that would automatically require the execution of our politicians when they leave office – for the good of the state. Maybe then we would keep out the riffraff and get people who would actually consider the job an honor.
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Somehow I missed out on one of those jobs also. 🙂
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It’s not ALL Obama, LOUDelf is right, a lot started under Bush, but guess who’s NOT here now?
Barack Hussein Obama = Epic Fail…
I am an Opinion Writer, not a News Source… 😛
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It still bothers me that Bush started the bailouts at the end of his term. He laid the ground for the path that Obama is following.
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My understanding is that most of the stimulus money is yet to be spent–if its not working and its quite clear it is not then why not put the rest back into the treasury or have our leaders forgotten where that is!
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Now that sounds like a great idea. If the stimulus failed why not give back the unspent money?
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I know Pres. Bush thought he was doing the right thing, but, wouldn’t it be funny if he really did throw Obama under the bus??????
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At least he would see his grandmother while he was under there, and his favorite reverand.
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