Friday, October 23, 2009
A Trillion Dollars Down The Drain
The stunning or stupid remarks by Dr. Christina Romer White House Economic Adviser when she said that the best of the stimulus bill has already been felt. Romer told a Congressional panel Thursday that by the middle of next year the $194 billion in stimulus funds spent in second and third quarters of this year will no longer be contributing to economic growth. Congressman Eric Cantor asked a simple question whether the stimulus plan has had the desired effect. Romer indicated that nearly $200 billion has been expended, another $150 billion allocated or already obligated. Cantor said, "But, really do the American people see the jobs? What is it that stimulus money really done? This is the final nail in President Obama coffin when it comes to the 787 billion stimulus bill. The stimulus bill was a payback to all the Unions and community organizations that supported President Obama during his campaign in 2008. The President and Christina Romer promised the American people that the unemployment rate would not go over 8.0%, but it has exceeded there projections and it stands now at 9.8% and is quickly moving towards 10%. This could be the worse use of federal dollars in the history of our great republic if this so-called stimulus plan does not meet the President expectation of creating 3-5 million new jobs. Therefore, if there are no jobs created by the spring or summer of next year there should be a full investigation on how the stimulus dollars were spent. This investigation will never happen because Rep. Pelosi and Sen. Reid will protect the "Messiah" and his failed economic policies. This is the Chicago-Style politics at it's best. The President learned his lesson well while in Chicago, make sure you payoff all your friends and they will always stay on the ship even if the ship is sinking. I will pray for our children's sake that our great country is still solvent after President Obama leaves the White House.