Admission of Failure

Tuesday 20 July 2010 - Filed under Economy + Government + Legislation + POTUS

Without question, one should draw the conclusion that Obama’s pandering of jobless folk during his speech in the Rose Garden is a full admission of his failed $1,000,000,000,000 stimulus bill.  An opinion piece in The Wall Street Journal:

Sure, Mr. Obama’s ostensible purpose was to lobby Congress for the eighth extension of jobless benefits since the recession began, to a record 99 weeks, or nearly two years. And he whacked Senate Republicans for blocking the extension, though Republicans are merely asking that the extension be offset by cuts in other federal spending.

But Mr. Obama was nonetheless obliged to concede that, 18 months after his $862 billion stimulus, there are still five job seekers for every job opening and that 2.5 million Americans will soon run out of unemployment benefits. What happens when the 99 weeks of benefits run out? Will the President demand that they be extended to three years, or four?

Only last week Vice President Joe Biden was hailing the stimulus for “saving or creating” three million jobs. This week the White House says we need even more stimulus, in the form of jobless checks, to make up for the jobs his original spending stimulus didn’t create.

I love it when we take nearly a trillion dollars and do the equivalent of fucking burning it. My children, and theirs, thank you.

2010-07-20  »  madlibertarianguy