Big Government Hubris Brings Failure
May was month 16 of the Obama “stimulus” or Recovery Act. This is the second part of a two part progress report. The first is here
This progress report will focus on some explicit promises made by President Obama and his economic team to sell us his massive stimulus scheme.
Lets not forget the origins of the stimulus, in Barack Obama’s hubris. Back in the Presidential campaign he set lofty expectations for the Utopian potential of big government under his leadership:
America, this is our moment. This is our time. Our time to turn the page on the policies of the past…I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on earth.
Millions of voters bought it and fully expected miraculous results.
Before he was even sworn in Obama, with absolutely no relevant experience believed his own hype and arrogantly directed Congressional leaders to enact the $787 Billion borrow-and-spend stimulus or recovery act. Congress passed the recovery act in the third week of his administration with such urgency they couldn’t even wait for it to be printed in final form, much less take the time to read it.
Big government schemes to seize control over the economy and lives of citizens are always based on extravagant promises of great benefits, conjured up by those “experts” who are way smarter than us ordinary mortals. Obama’s “experts” regaled us with a report, published for all to read, ten days before his inauguration.
The establishment media has shown little interest in reminding voters of the promises in this report so it is left to us to hold Obama and his experts accountable. Below are just a few of the projections in the expert report compared with actual results.
Expert Projection:
“Certain industries, such as construction and manufacturing, are likely to experience particularly strong job growth under a recovery package that includes an emphasis on infrastructure, energy, and school repair.”
Actual results:
.
Expert Projection:
…jobs are likely to be created in all sectors of the economy…More than 90 percent of the jobs created (more than 3.3 million) are likely to be in the private sector.
