As predicted by the Political Shaman in an earlier blog the stimulus would not work. Basically the stimulus spending spree was based on FDRs socialist spending ideas from the 1930s during the depression. Considering the Depression existed beyond 3 years as all other recessions before and since were 3 years or less, we can conclude FDR failed.
Here is the problem with the stimulus, socialism doesn't work. Nearly all of the stimulus is earmarked for every socialist program the Democrats have and desire to make. You simply can't take money from those you feel have plenty and give it to those you feel are in need. Additionally, spending this money to support insane things like cap and trade, unions and other bogus regulations only makes the problem worse.
The last problem of the stimulus is where the money went. The consumer represents 2/3rds of the economy. 66% of all money in America is earned and spent by the people, the consumers. Yet, Obama and his liberal comrades threw this money at 1/3rd of the economy. So what did they expect? Is it really surprising that the stimulus failed when your plan is to take trillions from 66% of the economy, reducing their ability to spend and giving it to 33% of the economy? To make this even more of a joke, the consumers got nothing out of it. No break from union insanity, no relief from taxes or reduced costs on say fuel, no new science producing a marketable technology nor even a break from the bad mortgages.
Mortgages are a good example. It would have been cheaper and more effective for Obama to just pay off the bad, near failing or flipped mortgages, than what was done, which was to buy the bad loans from the banks and make these people keep paying. Assuming anything should have been done at all, since the banks could have renegotiated these loans. Still, why should the taxpayers take a risk on bad loans for 30 more years, when it would have been cheaper to just pay them off?
Apparently the American people are not as blind as the used to be. Polls now indicate that the people do not believe the stimulus had any effect or is not working. Additionally, the majority of people would like the unspent money returned. This makes sense as it would either reduce the massive national debt Obama is racking up or return capital to the 66% of the economy that needs it to get us out of this recession.
Too bad what the people want is contradictory to what the Democrats want, if they admit they were wrong and give the money back, they will not be able to achieve their goal of maintaining power and imposing socialism.
Be assured Obama and the democrats will not return a single penny of money they should never have taken or printed in the first place.
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