Obama Stimulus Not Stimulating
Posted on July 31, 2009
As the Obamacare balloon loses air, and Obama’s numbers crash, a driving factor is the failed stimulus.
President Obama’s $787 billion stimulus plan is having little effect on job creation within the general-construction industry, the trade association for the sector said Thursday.
Construction spending was “disappointingly slow” five months into the recovery program, with firms working on stimulus-funded construction projects hiring at no greater rates than those without such work, according to the Associated General Contractors of America, known as AGC…
While few new jobs were reported, 60 percent of firms surveyed by the AGC said they had saved jobs because of the stimulus package, which the AGC estimates is worth $135 billion in construction contracts.
And yet another Obama project falls apart:
The Obama administration is telling lawmakers that its much-touted “cash-for-clunkers” program is already running out of money
, according to three Senate aides familiar with the discussions.
The program — aimed at giving a boost to the U.S. auto industry — was supposed to expire at the end of October. But in the one week since it took effect, it appears to have run dry of the $1 billion allocated to it, aides said Thursday.
What can Obama do but retreat?
Conventional wisdom always makes straight-line projections. They are always wrong. Yes, Obama’s aura has diminished, in part because of overweening overexposure. But by year’s end he will emerge with something he can call health-care reform. The Democrats in Congress will pass it because they must. Otherwise, they’ll have slain their own savior in his first year in office.
But that bill will look nothing like the massive reform Obama originally intended. The beginning of the retreat was signaled by Obama’s curious reference — made five times — to “health-insurance reform” during his July 22 news conference.
Reforming the health-care system is dead. Cause of death? Blunt trauma administered not by Republicans, not even by Blue Dog Democrats, but by the green eyeshades at the Congressional Budget Office.
» Filed Under Anti-Capitalism, Barack Obama, Democrats, Economy, Government malfeasance/misfeasance, Healthcare, News, Polls, Recession/Depression, Research/surveys, Socialism, Taxes, economic stimulus, liberalism
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2 Responses to “Obama Stimulus Not Stimulating”
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Now, in the latest taxpayer funded height of irresponsibility, we’ve bought thousands of people new cars. So, how do “clunkers” become clunkers ? Failure to properly maintain, failure to properly licence and register, and failure to drive responsibly. And all these new cars will soon become the next generation of “clunkers” at which point, the cycle starts again. Just like the temporary welfare system has expanded and become a permanant fixture for politicians to buy off generations of irresponsible American voters. We federalized the auto industry, so now we’re federalizing the purchase of their vehicles. Way to go, America !
Clunkers are clunkers because cars are designed to last about 12-15 years. After that it becomes difficult (and not cost-effective) to maintain one as a daily driver.
People still have to qualify for a new car loan or have the money upfront to buy a new car. Not everyone is going to qualify for the program so don’t worry about your welfare recipients trashing new cars.