Thursday, November 12, 2009

Pork Flops

The $787 Billion Flop
Americans seem to know what their leaders in Washington either don't know, don't want to know or refuse to acknowledge — that the economic stimulus they foisted on us has been one big letdown.

Fully two-thirds (66%) of those surveyed in the latest IBD/TIPP Poll said the stimulus has fallen short of their expectations in creating jobs. A little more than one in five (22%) said it has met their expectations, and only one in 15 (6%) said it has exceeded their expectations.

This is not exactly news, given how the results so far compare with the promises made in January. That was when the president's economic advisers assured that unemployment, now at 10.2%, would level off around 8%. But it is worth noting for those in the administration and Congress who still think all the people can be fooled all the time.
I'd say that the Porkulus Bill has done exactly what I believed it would do: dig us deeper into debt and fail to create private sector jobs while stimulating growth in the size and scope of government. To the extent that it has done those things it has met my expectations. However, though it was sold to us a job creation bill by the Administration and the left wing radicals in Congress, but it was painfully obvious at the time that it was anything but. In fact, it has caused unemployment to exceed projections. Meanwhile, the boy genius president apparently is stumped as to why jobs are being created by a bill that constituted nothing more than the looting of America.

Of course, his "jobs summit" will not discuss actual economic growth stimulating policies, such as cutting corporate, capital gains and payroll taxes, easing job-killing regulations and reducing the size and influence of big government. Obama and his ilk will never admit that those ideas have merit because they're so wedded to the idea that big government should dictate winners and losers in the economy as some sort of means to achieve "social justice" which means we're all equally miserable.