In 2009 President Obama spent what became $814 billion dollars on the Stimulus. The promise for the increase in debt were “shovel-ready” jobs that would turn around the economy. 4 years later the results are:
In the fall of 2011, at the beginning of the 2012 election cycle, President Obama pushed the American Jobs Act. It featured $140 billion in “infrastructure investments” – otherwise known as shovel-ready jobs.
During the 2013 State of the Union Address, President Obama proposed “Fix-It-Now”. The goal was for short-term government spending on roads and bridges to improve the economy. Sen. Patty Murray of Washington took up that concept, and in structuring the first budget since 2008 increased government spending $100 billion to fund this idea.
Thus we have 3 differnt names, 3 differnt amounts of debt-fueled funding, all doing exactly the same thing.
In the middle of the most effective portion of the Stimulus (May 2011) some $260 billion was spent. It created 573,511 jobs nationwide, at a cost of $453,347.89 per job created. Again this was the most effective impact time of the Stimulus. Unemployment was 9.1%.
Shovel-ready, infrastructure investment, Fix-It-Now, or whatever catchy name is attached to the idea has proven to be a failure. Yet it is the ONLY job creation proposal from the White House and Democrats for more than 4 years. By definition that’s doing the same thing over and over.
Is that insanity? What do you think?