Skip to comments.Ahead of Election, Obama Stops Releasing ‘Stimulus’ Reports
Posted on 10/19/2012 9:42:08 AM PDT by Snuph
The $831,000,000,000 economic stimulus that President Obama spearheaded and signed into law requires his administration to release quarterly reports on its effects. But the most transparent administration in the history of our country is now four reports behind schedule and has so far not released any reports whatsoever in 2012. Its most recent quarterly report is for the quarter than ended on June 30, 2011.
One wonders how the administration would treat a private citizen who acted like such a scofflaw in response to one of Obamas principal legislative initiatives. It certainly appears that this administration, which is so very fond of regulating Americans lives witness the 13,000 pages of Obamacare regulations it has already penned doesnt hold itself accountable to the same set of rules that its so eager to compel the American people to obey.
(Excerpt) Read more at weeklystandard.com ...
I fully expect the Regime aided by it's allies in the liberal media intend to steal this election by any means necessary. With the resources of the Justice Department and it's political ally Eric Holder, we can expect a crisis of governance.
The Occupy movement and Anonymous have already made plans to occupy our capitol building on November 5th 2012.
” The $831,000,000,000 economic stimulus that President Obama spearheaded and signed into law requires his administration to release quarterly reports on its effects. But the most transparent administration in the history of our country is now four reports behind schedule and has so far not released any reports whatsoever in 2012.”
You won’t get anything out of Obama. He and his gangsters STOLE a great deal of this money.
Thats really the only word we can use to describe the release of a sensitive and confidential 57 page memo, written by then soon-to-be U.S. Treasury Secretary Larry Summers in December 2008, about what became President Obamas signature economic program in the first year of his presidency: the stimulus package.
James Pethokoukis has summarized some of the most significant aspects of the memo, which weve excerpted below, and which reveals the Obama administrations thinking behind what became an over 821 billion dollar boondoggle. The bold text represents Pethokoukis summary of that thinking, which is directly followed by a supporting quotation from Larry Summers memo:
1. The stimulus was about implementing the Obama agenda. The short-run economic imperative was to identify as many campaign promises or high priority items that would spend out quickly and be inherently temporary.... The stimulus package is a key tool for advancing clean energy goals and fulfilling a number of campaign commitments.
2. Team Obama knows these deficits are dangerous (although it has offered no long-term plan to deal with them). Closing the gap between what the campaign proposed and the estimates of the campaign offsets would require scaling back proposals by about $100 billion annually or adding new offsets totaling the same. Even this, however, would leave an average deficit over the next decade that would be worse than any post-World War II decade. This would be entirely unsustainable and could cause serious economic problems in the both the short run and the long run.
3. Obamanomics was pricier than advertised. Your campaign proposals add about $100 billion per year to the deficit largely because rescoring indicates that some of your revenue raisers do not raise as much as the campaign assumed and some of your proposals cost more than the campaign assumed.... Treasury estimates that repealing the tax cuts above $250,000 would raise about $40 billion less than the campaign assumed.... The health plan is about $10 billion more costly than the campaign estimated and the health savings are about $25 billion lower than the campaign estimated.
4. Even Washington can only spend so much money so fast. Constructing a package of this size, or even in the $500 billion range, is a major challenge. While the most effective stimulus is government investment, it is difficult to identify feasible spending projects on the scale that is needed to stabilize the macroeconomy. Moreover, there is a tension between the need to spend the money quickly and the desire to spend the money wisely. To get the package to the requisite size, and also to address other problems, we recommend combining it with substantial state fiscal relief and tax cuts for individuals and businesses.
5. Liberals can complain about the stimulus having too many tax cuts, but even Team Obama thought more spending was unrealistic.
As noted above, it is not possible to spend out much more than $225 billion in the next two years with high-priority investments and protections for the most vulnerable. This total, however, falls well short of what economists believe is needed for the economy, both in total and especially in 2009. As a result, to achieve our macroeconomic objectivesminimally the 2.5 million job goalwill require other sources of stimulus including state fiscal relief, tax cuts for individuals, or tax cuts for businesses.
6. Team Obama thought a stimulus plan of more than $1 trillion would spook financial markets and send interest rates climbing. To accomplish a more significant reduction in the output gap would require stimulus of well over $1 trillion based on purely mechanical assumptionswhich would likely not accomplish the goal because of the impact it would have on markets.
2008 Candidate Barack Obama told us on the campaign trail: " The problem is, that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents, # 43 added $4 trillion by his lonesome so that now we have over $9 trillion of debt that we are going to have to pay back, $30,000 for every man woman and child. Thats irresponsible. Its unpatriotic."
REALITY CHECK Obama presided over the biggest political heist in US history. The Obamanations (insiders and politicians) sucked up trillions under the guise of inheriting the "Bush financial crisis."
THIS MADE ME LAUGH OUT LOUD Obama COS Rahm Emanuel "suddenly" discovered he wanted to be Chicago's mayor---the little turn went before the mics and announced his campaign "raised $10 million in just a few weeks." Rahm also controlled the US Treasury as COS.
2012 TEAM OHAHA IN CHICAGO MODE---MASSIVE VOTER FRAUD AHEAD
Remember, voter fraud is the Chi/mobs' specialty---do NOT underestimate Rahm and Axelrod (both running O's reelection), and Valerie whatsherface in the WH.
Let us not forget----the minute they hit the WH, the Chi/mob went into action: the WH Chi/mob took over the census---and now have all the CV they need to file phony FEC reports using stolen federal dollars falsified as campaign contributions.
Do not underestimate the wealth of cash the Ohahas/Chi-mob can come up with to rig the election......remember, these are the kingpins of corrupt Chicago politics. At one time, conscientious FEC investigators verified money was coming from legal citizens....but if Obama wins there will be no investigations.
There are billions unaccounted for in Obama's "stimulus" packages (some used in the last election cycle).....the Ohaha kingpins have tons of money stashed away for 2012.
POINTS TO PONDER
<><> author Dean Koontz estimates there's about $90 billion missing from the US Treasury.
<><> Ohaha's ex-COS Chi/Mayor Rahm Emanuel is running the reelection campaign---this Wall Street turd knows where all the money is hidden. Rahm also controlled all US Treasury assets (at Obama's behest) when he was COS.
WATCH FOR PHONY FEC REPORTS from "Obama for America" and two other DNC-joint fundraising committees the "Obama Victory Fund" and the "Swing State Victory Fund,"......and whatever other voter frauds they dream up.
2012 Team Ohaha is using the 2008 Anita (Mao) Dunn strategy to manipulate voters, to downplay Ohaha's destructive policies ....and his scary plans for the next term. Dunn said later, THEY, and only THEY, decided what the media should know about 2008 candidate Ohaha.
In a fair accounting, President Obama is responsible (along with the then-Democratic Congress) for the $1.3 trillion in deficit spending in 2010 and the estimated $1.6 trillion in deficit spending in 2011. He [Obama] should not get credit, moreover, for the $149 billion in TARP (Troubled Asset Relief Program) repayments made in 2010 and 2011 to cover most of the $154 billion in bank loans that remained unpaid at the end of the 2009 fiscal yearloans that count against President Bushs 2009 deficit tally.
The Treasury Department says that all but $5 billion of the TARP bank loans has now been repaid. The portion of repayments that was for loans issued in 2009 should be deducted from Bushs deficit tally, not credited to Obama as deficit savings. There is some astounding number crunching in this article, and a chart of modern day presidents average annual deficit spending ........a frightening conclusion of what happens if Obama has an 8 year term.
Obama’s final scenes remind me of Animal House’s Blutarski saying; “Seven years in college, wasted!”
$831 Billion dollars in economic ‘stimulus’ spending and what do we have to show for it? Unemployment over 8% for 43 consecutive months.
If Team Romney can’t push that glaring failure front and center in the minds of voters over the next three weeks, then they’re nearly as worthless as the criminals who pulled off this heist.
Get on it, Mitt. This is the biggest button you can push.
I used to pull up and glance through the stimulus reports once a week - even posted a couple of weeks of posts here at FR on the asinine spending - then they became hard to find on the site I was using and now-apparently - poof.
I am hoping that Romney & Ryan have enlisted a volunteer army of forensic accountants, regular accountants, retired judges & others to clean house in Washington & to get a frull accounting of where EVERY SINGLE DIME of that stimulus money went.
I am convinced that millions were skimmed off my Obama, Holder, and others.
I want indictments and prison for those criminals.
I just dug up the way I used to get those stimulus updates - it is working again - just downloaded the file - stimulus allocated/paid up to this morning.
(took a while :(
Uh, Mr. President, penny for your thoughts?