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Chief WH Economic Advisor Admits $Trillion Stimulus Job Creation Plan is a Bust!
Flopping Aces ^ | 10-24-09 | Mike's America

Posted on 10/24/2009 10:44:25 AM PDT by Starman417

Yet, we're supposed to believe their promises for health care reform?

Readers may recall that the same White House bunch promising a "deficit neutral" health care plan promised that if we passed the $787 billion stimulus ($one trillion after debt cost) that we would save millions of American jobs. They even put out a chart which showed their projections state by state on the jobs they expected to be created.

Earlier this week, I posted a report from the House Ways and Means Committee Ranking Member which shows that instead of creating millions of new jobs, we have lost an additional 2.7 million since the stimulus bill was rushed through congress.

A reasonable person might say: well, perhaps more jobs will be created later as the stimulus spending increases? That would conflict with the statement of Christina Romer, Chair of the WH Council of Economic Advisors. In prepared testimony she delivered before Congress on October 22, 2009 she dropped this bombshell:

[VIDEO AT SITE]

"Most analysts predict that the fiscal stimulus will have its greatest impact on growth in the second and third quarters of 2009.By mid-2010, fiscal stimulus will likely be contributing little to growth."
So, we spent a trillion taxpayer dollars and exploded the deficit only to lose 2.7 million jobs? It gets worse. Romer concluded:

"We enter the fourth quarter of 2009 with the unemployment rate nearing 10 percent and likely to remain severely elevated."
In the video posted at right you can hear the incredulity expressed by the panel of the Fox News program Special Report. No wonder the White House wants to silence Fox News!

(Excerpt) Read more at floppingaces.net


TOPICS:
KEYWORDS: porkulus; romer; stimulus

1 posted on 10/24/2009 10:44:26 AM PDT by Starman417
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To: Starman417

I guess the ‘hold’ on the ACORN $8.5 billion of your money in the stimulus package will be released at the end of this month...ACORN can go back to ‘stimulating’ (mostly)Black neighborhoods where they’re sitting on their front porch anxiously waiting.


2 posted on 10/24/2009 10:52:29 AM PDT by blam
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To: Starman417

That’s because it wasn’t a stimulus in the first place, it was hording by Washington to keep it’s policies afloat and payoff their followers.


3 posted on 10/24/2009 11:06:17 AM PDT by Earthdweller (Harvard won the election again...so what's the problem.......?)
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To: Starman417

Porkulus was the correct term for it. It was the largest pork package ever passed. It all went to the unions, and the gov employees, and ACORN, and the other friends of the Democrats—as well as into their own pockets.

And that pork was in addition to the mountains of pork routinely inserted into the regular budget.


4 posted on 10/24/2009 11:33:06 AM PDT by Cicero (Marcus Tullius)
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To: Starman417

When you spend more than you have; what do you expect?


5 posted on 10/24/2009 11:43:29 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: Starman417

how about we audit and find out where the money went


6 posted on 10/24/2009 11:43:47 AM PDT by dalebert
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To: Starman417

I would like to see someone take a poll on how many believe the stimulus worked or did any good. While I am wishing, I would like to see the Media drive home the point that not a single Republican Representative in the House voted for this piece of ****.


7 posted on 10/24/2009 11:50:49 AM PDT by sportutegrl (If liberals could do math, they would be conservatives.)
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